Georgia Association of Convenience Stores

IRS Issues Proposed Regs on Business Interest Expense Deductions

News Image

​December 6, 2018

Courtesy of Moore Colson

In April 2018, the IRS released temporary guidance on the amended limit on deductions for business interest expense for tax years beginning in 2018. Taxpayers were allowed to rely on that guidance while waiting for regulations. The IRS has now published proposed regulations that taxpayers can rely on until final regs are released. The proposed regs significantly expand on the temporary guidance. They include, among other notable provisions, a broader definition of interest than businesses have applied in the past.

Read more.


Comments

Leave A Comment