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Proposed carried interest legislation: traps for the unwary

USA - June 16 2010 The House of Representatives, the Senate, and the White House have been considering proposed legislation affecting the tax treatment of partnership profits interests issued to service providers (so-called "carried interests") since 2007.

Charles Kolstad, Robin Gilden.

New Audit Procedures for Partnerships Create Potential Entity-Level Liabilities

USA - December 17 2015 On November 2, 2015, President Obama signed into law the Bipartisan Budget Act of 2015 (the Act). The Act significantly changes how partnerships…

Christopher S. Davidson, Michael A. Bloom, Norman Lencz.

New Partnership Audit Rules Effective January 1, 2018

USA - October 11 2017 Pursuant to the Bipartisan Budget Act of 2015, effective January 1, 2018, new rules will govern IRS audits of partnerships, including…

Nicholas A. Jacobus, Shane P. Nix.

IRS Issues Proposed Regulations Under Section 199A

USA - November 5 2018 Section 199A of the Internal Revenue Code of 1986, as amended (the "Code"), has become one of the most talked-about provisions of the Tax Cuts and…

Christopher S. Davidson, Erin Elizabeth Warren, Norman Lencz.

8 Tax Proposals Keeping Us Up at Night, So You Can Sleep Better

USA - June 4 2021 On May 28, the Treasury Department released its explanation of the tax proposals included in President Biden's fiscal year 2022 budget submission…

Ani C. Hovanessian, Friedemann Thomma, Lisa A. Tavares, Robert L. Waldman.