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Regulations pending OIRA review: Business interest limitation under section 163(j)

Business interest limitation under section 163(j)

OMB’s Office of Information and Regulatory Affairs (OIRA) has received for review from the U.S. Treasury Department final regulations concerning the limitation on the deduction of business interest under section 163(j).

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The 2017 tax law (Pub. L. No. 115-97, the law that is also referred to as the “Tax Cuts and Jobs Act” (TCJA)) added new section 163(j) to the Code. Section 163(j) generally limits the amount of a taxpayer’s business interest deduction.

Treasury regulations that are identified as “major” regulations are subject to review by OMB’s OIRA before being issued, pursuant to Executive Order 13771. According to OIRA, the regulations received for review on December 17, 2019, are identified as:

  • RIN: 1545-BO73: Rules regarding business interest limitation under section 163(j)

These regulations are further described on the OIRA website as follows:

Finalizing regulations regarding the business interest limitation under section 163(j)

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