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Treasury Releases Final Carried Interest Regulations

USA - January 11 2021 Section 1061 of the Internal Revenue Code was enacted as part of the 2017 Tax Cuts and JOBS Act to create greater parity between the tax treatment of…

Andrew Penman, Colin S. Kelly, Libin Zhang, Michelle Gold.

The Cayman Islands removed from the EU “blacklist”

Cayman Islands, European Union - October 6 2020 On October 6, the EU Council announced that the Cayman Islands have been removed from the EU's official list of non-cooperative jurisdictions for tax…

Nick Thornton.

Treasury Releases Carried Interest Guidance

USA - August 3 2020 On July 31, 2020, the U.S. Treasury Department and the IRS released long-awaited proposed regulations on the three-year carried interest holding…

Andrew Penman, Colin S. Kelly, Michelle Gold.

IRS Delays in Processing EIN Applications for Non-U.S. Entities

USA - April 16 2020 In response to the Coronavirus pandemic, the Internal Revenue Service (“IRS”) is operating at reduced capacity and is not processing applications by…

Shane C. Hoffmann.

U.S. Senate Unanimously Passes the "CARES Act" - Summary of Business Tax Provisions

USA - March 26 2020 On March 25, 2020, the U.S. Senate unanimously passed the "Coronavirus Aid, Relief, and Economic Security Act" or the "CARES Act" (H.R. 748).1 The…

Alan S. Kaden, Colin S. Kelly, Jaclyn M. Goldberg, Libin Zhang, Xenia Garofalo.