The Journal of Accountancy reports that the IRS has finalized, without substantive changes, proposed regulations that were issued in conjunction with temporary regulations in January 2012. The final regulations make permanent four changes to the rules for allocating and apportioning interest expense for partners in partnerships (T.D. 9676).

To read more, see Partnership interest expense allocation rules are finalized.

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.