The U.S. IRS has published updated instructions for Form 8990, Limitation on Business Interest Expense Under Section 163(j). One of the key updates concerns a change in the adjusted taxable income (ATI) computation for the limitation. As approved in the Tax Cuts and Jobs Act, the limitation on business interest deductions is equal to 30% of the ATI. For tax years beginning before 2022, depreciation, amortization, and depletion deductions were not taken into account (i.e., added back in the A…