IRS Issues Proposed Regs on Business Interest Expense Deductions

From OMA Connections Partner Clark Schaefer Hackett (CSH): “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.”

Read more from CSH about the changing deduction limit and the new definition of interest.12/7/2018