IRS Issues Proposed Regulations on Business Interest Deduction Limitations

Proposed regulations under Section 163(j) governing business interest deduction limitations confirm prior guidance and expand the scope of its application in some important respects.

On November 26, 2018, the Treasury and the Internal Revenue Service (IRS) released proposed regulations (Proposed Regulations) implementing the business interest expense limitation rules under new Section 163(j), enacted last year as part of the Tax Cuts and Jobs Act (TCJA). Section 163(j) generally limits a taxpayer’s business interest deductions to 30% of “adjusted taxable income” (ATI).

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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