The U.S. IRS has published the draft Form 8990 - Limitation on Business Interest Expense Under Section 163(j). As amended by the Tax Cuts and Jobs Act (TCJA), section 163(j) provides that for taxable years beginning after 31 December 2017, the deduction for interest expense is limited to the sum of business interest income for the year, 30% of adjusted taxable income, plus floor plan financing…