Biz Interest Anti-Abuse Tax Rule Possible, Official Says

Law360, San Diego (February 11, 2018, 12:34 PM EST) -- Even though the IRS and Department of Treasury's Priority Guidance Plan update released Wednesday did not say that an anti-abuse rule was forthcoming on new limitations on business interest expense deductions enacted as part of the GOP tax cut bill, that doesn't mean it won't happen, a Treasury official said Friday.

The guidance plan said the IRS and U.S. Department of the Treasury were working on "computational, definitional, and other guidance" on the business interest deduction limitations under new IRC § 163(j), whereas a regulatory project on...
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