IRS Prop. Reg.: Comments Submitted on Business Interest Limitation (IRC §163)

Sixty-five public comments released February 26 and February 27 on REG-106089-18 that would implement the new business interest expense deduction limit, as modified by the 2017 tax act, Pub. L. No. 115-97. The proposed regulations would provide that the deduction for business interest expense would generally be limited to the sum of the business interest income, 30% of adjusted taxable income, and floor plan financing interest. Commenters include the American Petroleum Institute, Pamela Olson of the Section 163(j) Working Group, SIFMA, the Real Estate Roundtable, American Automotive Leasing Association, NAREIT, and the American Chemistry Council.

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