Tax alert

RSM submits comment letter on section 163(j) business interest expense law

Oct 14, 2022
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Federal tax Business tax

RSM submits comment letter on section 163(j) business interest expense law

RSM has submitted a comment letter to U.S. Congressional leaders addressing recent changes to rules governing the deductibility of interest expense for businesses by subjecting taxpayers to limitations on their interest expense deductions based on a percentage of adjusted taxable income (ATI).

RSM supports retroactive repeal of the changes and restoration of the rule for determining ATI based on earnings before interest, taxes, depreciation, amortization, and depletion (EBITDA) for taxable years beginning on or after Jan. 1, 2022.

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