OrbitaxIRS Updates FAQs on Interest Expense Deduction Limit for Businesses
|Approved Changes|United States
The U.S. IRS has announced updated Questions and Answers about the limitation on the deduction for business interest expense (FAQs), dated 19 August 2026. The updated FAQs are as follows:
Topic A: General information
- Q1. What is the section 163(j) limitation on the deduction for business interest expense? (updated Aug. 19, 2026)
- Q3. What is the gross receipts test for purposes of the section 163(j) limitation? (updated Aug. 19, 2026)
Topic B: Excepted trades or businesses
- Q2. How do…