Final Regulations on Business Interest Expense Deduction Limitation Published in the Federal Register

business news

WASHINGTON, D.C. — The final regulations for the business interest expense deduction limitation published in the Federal Register this week. The final regulations vary slightly from the document released on IRS.gov on July 28, 2020.

The Treasury Department and the IRS released a version of the final regulations on the business interest expense deduction limitation on IRS.gov on July 28, 2020. The version released on IRS.gov contains a disclaimer that the document had been submitted to the Office of the Federal Register for publication, and notes that the version of the final regulations may vary slightly from the document published in the Federal Register.

The version of the final regulations published in the Federal Register contains minor editorial changes. In response to questions from taxpayers and practitioners, the final regulations published in the Federal Register clarify that taxpayers may rely on the final regulations for any taxable year beginning after Dec. 31, 2017, provided that certain conditions are met.

READ:  IRS Highlights Employer Credits for Businesses

The document published in the Federal Register is the official document.

For more information about this and other TCJA provisions, visit IRS.gov/taxreform.

Thanks for visiting! MyChesCo brings reliable information and resources to Chester County, Pennsylvania. Please consider supporting us in our efforts. Your generous donation will help us continue this work and keep it free of charge. Show your support today by clicking here and becoming a patron.

Buy Us a Cup of Coffee
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments