CPAR Taxes

CPAR - 2020/May, Seg.03 - Business Interest Expense Deduction Limitation and More

Course Overview
Prior to the 2017 Tax Cuts and Jobs Act (TCJA), section 163(j) of the Internal Revenue code applied only to certain interest paid or accrued by corporations. However, the TCJA significantly changed the section 163(j) limitation. Late in 2018, official guidance was received on the application of business interest limitation under IRC Section 163(j) and recently, the Office of Information and Regulatory Affairs (OIRA) seems to have completed their regulatory review and additional guidance is on the way. Edward Zollars, CPA, a partner with Thomas, Zollars & Lynch, Ltd and a discussion leader for Kaplan Financial Education provides an overview, starting with IRC section 163(j) business interest expense deduction limitations.

Learning Objectives:

Upon successful completion of this segment, you should be able to:

  • Identify the business interest expense limitations on deductibility under section 163(j) of the IRC;
  • Determine who is subject to the limitation and who is exempt;
  • Identify the difference between the IRS definition of interest expense and the business interest expense; and
  • Determine the 2019 IRS requirements on partner's capital and implications on negative capital basis.

Prerequisites/Advanced Preparation:

Work experience in tax planning or tax compliance, or an introductory course in taxation.

Speaker / Author:

SmartPros Ltd. is a leader in online and offline continuing education for accounting, finance and engineering professionals. With over 2,000 hours of content, SmartPros has been providing mandatory continuing education products since 1981. SmartPros provides services and content to its professional and corporate clients, in a variety of media including Web, CD-ROM, and video. In the accounting market, SmartPros also has a predominant news and information portal which receives 200,000+ visits per month and provides services to over 100,000 subscribers. SmartPros' customers include 50% of the Fortune 500, as well as the major firms and associations in each of its professional markets.


Price (USD)

Standard: $69.90


Course Code : CPAR1453-FM

Release Date : 06/03/2020
Expire Date : 07/09/2021
Credits :
CPE 2.00
QAS 2.00

Length : 1hr 40min
Course Level : Update
Course Type : Self-Study
Passing Grade : 70%
Format Type : eLearning
Mobile Compatible
Field Of Study : Taxes

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