Boston Bruins in battle with IRS over player meals
The Boston Bruins may change the way your company treats its employees, and not because your boss is planning to give away his tickets.
Bruins owner Jeremy Jacobs is taking on the IRS in US Tax Court for the Bruins’ right to deduct the full cost of feeding Bruins players on team trips, Bloomberg BNA reports.
Tax attorney Philip Garrett Panitz told The Boston Globe that case could affect businesses that pay for off-site meals.
The IRS told the Bruins that they owed more than $85,000 in taxes from 2009 and 2010, because the team deducted the full cost of players’ meals. The IRS caps such deductions at 50 percent.
Bloomberg said that the Bruins feel that the IRS section of the tax code for “entertainment, amusement or recreation’’ should not apply to them, since feeding Zdeno Chara and company is an essential part of running the team.
Read the full Bloomberg report here.
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