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

Public comments released April 23 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. [Comments from ACE Hardware Corp., Comments from National Multifamily Housing Council and National Apartment Association]

Reference:
View ACE Hardware Comments, View NMHC and NAA Comments.