Restaurant Federal Relief Updates

The Small Business Administration (SBA) launched the Shuttered Venue Operators Grant program yesterday, but, unfortunately, the application site crashed within hours and remains offline. As they work to repair the technical glitches, we are hopeful that they will get it up and running for affected operators quickly. This temporary setback will also provide better practices and insight for the RRF launch expected later this month. Additionally, the SBA Inspector General released an emergency report the night before the launch expressing concerns that the program does not have enough anti-fraud protections. No news yet on how this may affect the program. 

The IRS and Treasury Department issued guidance allowing a 100% business deduction for food or beverages purchased from restaurants, from January 1, 2021 to December 31, 2022. For clarity, the term “restaurant” means a business that prepares and sells food or beverages to retail customers for immediate consumption, regardless of whether the food or beverages are consumed on the business’s premises.