A bill to amend the Internal Revenue Code of 1954 with respect to the treatment of expenses of attending foreign conventions.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to revise the rules for the deductibility of expenses for attendance at a foreign convention. Requires a taxpayer, in order to deduct expenses incurred in attending any convention held outside the United States, to establish and substantiate that: (1) the purpose of the convention is directly related to the active conduct of his trade or business; (2) the time spent at the convention is primarily devoted to business-related activities; (3) such expense is not the cost of personal activities incidental to such convention; and (4) such expense is not lavish or extravagant under the circumstances. Disallows the business expense deduction for meetings held in countries which do not provide similar deductions for its citizens attending meetings in the United States Defines, "foreign convention" as any convention, seminar or similar meeting held outside the United States.…