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Expense Account Curbs Not So Drastic
Washington observers note the new IRS travel and entertainment deduction rules issued by Commissioner Mortimer Caplin are less harsh than feared. The 1963 regulation lets agents decide on deductibility case by case, preserves some lavish limits, and aims to balance business needs with curbing abuses. Public hearings will refine it for a 30 day effective date.
MENTIONED IN THIS ARTICLE
Washington
Mortimer M. Caplin
Internal Revenue Service
Caplin
IRS
National Restaurant Association
Tas
Congress