Tax
Aug. 12, 2020
IRS issues proposed regulations on carried interests
Offering further guidance for investors, the Internal Revenue Service recently issued proposed regulations for carried or profit interests — ownership interests in a partnership that share in a partnership’s net profit.
Phil Jelsma
Partner and Chair of the Tax Practice Team
Crosbie Gliner Schiffman Southard & Swanson LLC (CGS3)
Email: pjelsma@cgs3.com
Phil is chair of the tax practice team at CGS3. He is recognized as a leading joint venture and tax attorney, with a 30-year background in real estate exchange transactions, syndications, nonprofit corporations and international tax planning.
Offering further guidance for investors, the Internal Revenue Service recently issued proposed regulations for carried or profit interests -- ownership interests in a partnership that share in a partnership's net profit.
As part of the 2017 Tax and Jobs Act, these regulations (Section 1061) treat certain profit interests or carried interests as being subject to a recharacterization which converts long-term capital gains of a partner...
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$795 for an entire year!
Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)
Already a subscriber?
Sign In