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Tax relief for meals provided to remote seafood industry employees.

New rules change how seafood and fish processing companies can deduct meal expenses for their employees. Businesses operating on fishing vessels or at specific remote fish processing facilities will now be able to deduct 100% of meal costs, instead of the previous 50%. These changes apply to tax years beginning after December 31, 2019, potentially allowing for adjustments to past tax filings.
Key points
Seafood and fish processing companies can deduct 100% of employee meal costs, up from 50%.
This applies to meals provided on fishing vessels or at fish processing facilities located north of 50 degrees north latitude, outside metropolitan areas.
The changes are retroactive, applying to tax years beginning after 2019, potentially impacting past tax returns for businesses.
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Additional Information
Remote Seafood Employee Meals Tax Parity Act
Print number: HR 6295
Sponsor: Rep. DelBene, Suzan K. [D-WA-1]
Process start date: 2023-11-08