The U.S. IRS has issued guidance on changes for excess business loss limitations and net operating losses introduced in the Tax Cuts and Jobs Act. --- WASHINGTON — The Internal Revenue Service issued guidance on excess business loss limitations and net operating losses following law changes in the Tax Cuts and Jobs Act (TCJA). Excess business losses The TCJA modified existing tax law on excess business losses by limiting losses from all types of business for noncorporate taxpayers. An excess business loss is the amount by which the total deductions from all trades or businesses exceed a taxpayer’s total gross...