Finance & markets · 14/09/2020

IRS Proposes Rules on Business Interest Expense Deduction for US Shareholders of Controlled Foreign Corporations and Foreign Persons

The IRS has released proposed regulations addressing the limitation on business interest expense deduction for US shareholders of controlled foreign corporations and foreign persons with effectively connected income, as well as passthrough entities and regulated investment companies, following the Tax Cuts and Jobs Act and the Coronavirus Aid, Relief, and Economic Security Act