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Interest expense deductions / by Joshua Tompkins, KPMG LLP, Minneapolis, MN and Sam Chen, KPMG LLP, New York, NY.

By: Tompkins, Joshua [author.].
Contributor(s): Chen, Sam (Lawyer) [author.] | Tax Management Inc | Bloomberg BNA.
Material type: Continuing resourceContinuing resourceSeries: Tax management portfolios: 536-5th.Publisher: Arlington, VA : Tax Management Inc., [2021]-Copyright date: ©2021-Description: volumes (loose-leaf) ; 28 cm.Content type: text Media type: unmediated Carrier type: volumeISBN: 9781633593770; 1633593770.Subject(s): Income tax deductions -- United StatesFrequency: Updated irregularly
Contents:
Introduction -- Classification of payments as interest on indebtedness -- Whose interest is it? -- Method of accounting -- How is interest classified? -- Other limitations on interest expense deductions -- Tax deficiency interest -- Alternative minimum tax -- Table of worksheets.
Summary: " ... describes in detail the rules relating to the allowance of and limitations on deductions for interest expense as set forth in the Internal Revenue Code, Treasury Regulations, and various IRS and case law guidance. It has been updated to include changes made by the enactment of the Tax Cuts and Jobs Act of 2017 (TCJA), including [section] 163(j) of the Internal Revenue Code and the regulations promulgated thereunder. Coverage includes: (1) the determination of whether certain payments are properly characterized as interest; (2) who may properly take a deduction for interest; (3) the methods of accounting applicable to interest deductions; (4) limitations on the deductibility of personal interest, investment interest, and business interest; (5) additional various limitations on the deductibility of interest in specific contexts; and (6) an overview of the rules for deductibility of tax deficiency interest"--Portfolio description (page iii).Continues: Daher, Dominic L. Interest expense deductions.
List(s) this item appears in: December 2021 New Treatises
Holdings
Item type Current library Shelving location Call number Status Date due Barcode
Treatises and Periodicals Hennepin County Law Library Treatises KF6289.A1 T39 536-5th (Browse shelf(Opens below)) Available 35032002501536

Kept up to date with revision pages.

"This portfolio revises and supersedes 536-4th T.M., Interest Expense Deductions."

"Bloomberg Tax"--Cover.

" ... describes in detail the rules relating to the allowance of and limitations on deductions for interest expense as set forth in the Internal Revenue Code, Treasury Regulations, and various IRS and case law guidance. It has been updated to include changes made by the enactment of the Tax Cuts and Jobs Act of 2017 (TCJA), including [section] 163(j) of the Internal Revenue Code and the regulations promulgated thereunder. Coverage includes: (1) the determination of whether certain payments are properly characterized as interest; (2) who may properly take a deduction for interest; (3) the methods of accounting applicable to interest deductions; (4) limitations on the deductibility of personal interest, investment interest, and business interest; (5) additional various limitations on the deductibility of interest in specific contexts; and (6) an overview of the rules for deductibility of tax deficiency interest"--Portfolio description (page iii).

Introduction -- Classification of payments as interest on indebtedness -- Whose interest is it? -- Method of accounting -- How is interest classified? -- Other limitations on interest expense deductions -- Tax deficiency interest -- Alternative minimum tax -- Table of worksheets.

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