The last official guidance we received on the application of the business interest limitation under IRC §163(j) arrived late in 2018 with proposed regulations.  We now have signs that additional guidance is on the way, both in terms of final regulations[1] and additional proposed regulations[2] based on regulatory review information posted on the website of the Office of Information and Regulatory Affairs (OIRA).  However, we are still a bit in the dark on exactly when the guidance will be seen—and, more to the point, whether it will emerge before or after the first 2019 return original due dates arrive.

OIRA first posted notification that it had completed its review of §163(j) final regulations, based on the 2018 proposed regulations.  While the posting indicated the review had been completed on January 31, 2020, [3] the information does not appear to have been posted on OIRA’s website until February 4, 2020.[4]