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Substantiation of hotel restaurant charges paid by credit card
June 14, 2022
Q. If a hotel restaurant’s charge comes through on a credit card statement under the hotel’s name, would a detailed receipt be required by the IRS to substantiate a meal that is under $75?
A.
(Answered by a 3rd party, independent advisory services firm offering experienced and practical help for tax regulatory compliance for Forms W-9, W-8, W-2, 1099, 1098, 5498, 945, 1042, 1042-S, and state reporting.)
The answer hinges on whether the company's whole process satisfies substantiation…
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