NTA1831 - One Year On: Elucidations In Applying Section 163(j) to Partnerships

Description

The business interest expense limitations of section 163(j) have been the subject of significant debate since the enactment of the TCJA. The application of these rules to partnerships presents novel issues, some of which remain unresolved. After a brief overview of the operative rules, this session will focus on the Treasury and IRS guidance issued to date and the remaining open issues and uncertainties, as illustrated through a series of examples.

• Discuss the interest expense limitation in Section 163(j) and the key terms used in the Code Section.
• Identify which taxpayers are not subject to Section 163(j) and which taxpayers may elect out of Section 163(j).
• Discuss how Section 163(j) applies to partnerships and partners and uncertainties in the law.

Speaker(s):

• Mark Opper, JD, LL.M. (Taxation), Principal, Ernst & Young LLP
• Bryan Rimmke, JD, LL.M. (Taxation), Attorney Advisor, Office of Tax Policy, U.S. Department of the Treasury