IRS Sheds Some Light on Business Interest Expense Deductions

Here’s a recent post from OMA Connections Partner, Clark, Schaefer, Hackett: “The Tax Cuts and Jobs Act (TCJA) imposes a limit on deductions for business interest for taxable years beginning in 2018. The limit, like other aspects of the law, has raised some questions for taxpayers. In response, the IRS has issued temporary guidance in Notice 2018-28 that taxpayers can rely on until it releases regulations. While the guidance provides some valuable information, it also leaves some questions unanswered.”