The more than 800 pages of guidance released by the U.S. Treasury and IRS on July 28, 2020, relating to section 163(j) as amended by the 2017 tax law (commonly referred to as TCJA) and amended by the March 2020 CARES Act, include provisions with potential impacts on the corporate, international, and state and local taxation of U.S. business. (The potential impact on passthrough entities is the subject of an August 13 KPMG TaxWatch webcast.)
KPMG LLP (KPMG) is pleased to invite you to a 90-minute webcast on these regulations and their potential impact on U.S. businesses. Senior Washington National Tax professionals discuss:
- Corporate tax considerations: general C corporation rules, consolidated rules, carryover and limitations
- International tax considerations: application to controlled foreign corporations, application to foreign corporations with effectively connected income
- State and local tax considerations: conformity to section 163(j), computing the limitation when the federal and state filing methods differ, and addressing the interaction with state related-party interest expense statues.
Please join us for what promises to be an insightful and informative webcast.
KPMG Report: Initial Analysis of Regulations, Guidance under Section 163(j)
August 4, 2020
Sec. 163(j): Passthroughs – Business Interest Expense Limitations
August 13, 2020 | KPMG TaxWatch Webcast
- August 24, 2020, 2:00 p.m.–3:00 p.m. (ET) | Carried Interest: A Discussion of the Recent Proposed Regulations under Section 1061
- Webcasts that drill down on the impacts of section 163(j) (with respect to interest expense limitations) and section 1061 (related to the carried interest provisions) for private equity firms and hedge funds will be scheduled soon as well.