The American Institute of CPAs testified Wednesday during an Internal Revenue Service hearing on proposed regulations for implementing the limitation on the deduction for business interest expense ...

In long-awaited guidance on Section 163(j) post-tax reform, the Treasury and IRS present taxpayers with an expansive definition of “interest,” subjective anti-abuse rules, complex computational ...

Generally, the limit applies at the taxpayer level, but in the case of a group of affiliated corporations that file a consolidated return, it applies at the consolidated tax return filing level.