IRS Interest Expense

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  • taxedtothemax
    Member
    • Feb 2009
    • 31

    #1

    IRS Interest Expense

    May a corporation deduct interest paid to the IRS on taxes owed or is it the same concept as an individual(personal interest), who may not deduct it even if attributable to Sch. C income ? Appreciate anyone's help.
  • veritas
    Senior Member
    • Dec 2005
    • 3290

    #2
    Unlike

    Originally posted by taxedtothemax
    May a corporation deduct interest paid to the IRS on taxes owed or is it the same concept as an individual(personal interest), who may not deduct it even if attributable to Sch. C income ? Appreciate anyone's help.
    an individual it is dedcutible.

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