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This version of the form is not currently in use and is provided for reference only. Download this version of
IRS Form 8990
for the current year.
IRS Form 8990 Limitation on Business Interest Expense Under Section 163(J)
What Is IRS Form 8990?
This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury on December 1, 2019. Check the official IRS-issued instructions before completing and submitting the form.
FAQ
Q: What is IRS Form 8990?A: IRS Form 8990 is a form used to calculate the limitation on business interest expense under Section 163(j).
Q: What is the purpose of IRS Form 8990?A: The purpose of IRS Form 8990 is to calculate the amount of business interest expense that is deductible on a tax return.
Q: What is the limitation on business interest expense?A: The limitation on business interest expense is a provision that restricts the amount of deductible interest expense for certain businesses.
Q: What is Section 163(j)?A: Section 163(j) is a section of the Internal Revenue Code that governs the deductibility of business interest expense.
Q: Who needs to file IRS Form 8990?A: Taxpayers who have business interest expense and are subject to the limitation under Section 163(j) need to file IRS Form 8990.
Q: When is IRS Form 8990 due?A: IRS Form 8990 is generally due with the taxpayer's annual tax return, usually on April 15th, unless an extension has been requested.
Q: Is IRS Form 8990 required for individuals?A: Generally, IRS Form 8990 is not required for individuals, as the limitation on business interest expense primarily applies to businesses.
Q: What happens if I don't file IRS Form 8990?A: If you are required to file IRS Form 8990 and fail to do so, you may face penalties and interest on any unpaid taxes.
Q: Can I file IRS Form 8990 electronically?A: Yes, IRS Form 8990 can be filed electronically using electronic filing platforms approved by the IRS.
Form Details:
- A 3-page form available for download in PDF;
- Actual and valid for filing 2023 taxes;
- Editable, printable, and free;
- Fill out the form in our online filing application.
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Download IRS Form 8990 Limitation on Business Interest Expense Under Section 163(J)
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