Presented on April 27, 2020
Presented by Matt Montez, Partner, Tax Services
Generally, for most taxpayers, Internal Revenue Code Section 163(j) increases the interest deduction limitation from 30% to 50% of adjusted taxable income for tax years beginning in 2019 or 2020. This change was introduced in the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Learn if you qualify and how to get started.