IRS Debt Interest Rules May Need Tweaks After White House Review

IRS officials may need more time to work on proposed rules for the 2017 tax law’s cap on debt interest payment write-offs once the White House Office of Information and Regulatory Affairs finishes its review, an agency official said.

That could include “a little tweak” or small changes, Ned Blanchard, a senior counsel at IRS, said Thursday at a tax conference in Washington.

• “Even when the proposed regs come back from OIRA, there still may be a delay, just because there’s more things that have to be done to get the regulations out,” Blanchard said.
• The proposals—for a restriction under ...