The Treasury Department Anticipates Releasing a Notice on IRC 163(j) in the Near Future
Krishna Vallabhaneni, Treasury deputy tax legislative counsel, recently stated that the Treasury Department plans on issuing a notice in the coming weeks to address some of the recent issues related to amended IRC 163(j) (interest expense deductions). Some of the specific issues the notice will address include the treatment of carryovers and limitations under the previous section 163(j), its application to partnerships, and whether the provision will be applied on a consolidated group basis.
Read more: Interest Expense Deduction Notice Expected in Coming Weeks