CPA, Partner - Affordable Housing Industry Leader
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Affordable Housing News & Views - October 2020
CohnReznick Insights
Earlier this year, the IRS issued final regulations regarding the business interest expense limitations included in the Tax Cuts and Jobs Act (TCJA), along with additional proposed regulations to clarify some issues not covered in the original proposed regulations (issued in 2018). The final regulations are effective for tax years beginning after Nov. 13, 2020, so will be in effect for next tax year, but taxpayers may opt to adopt them early if they do so consistently from 2018 forward.
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