
Tax Alert
House bill would ban carried interest tax benefits for asset managers
Bill would treat carried interest as ordinary income and subject to it to self-employment tax, regardless of the holding period.
Bill would treat carried interest as ordinary income and subject to it to self-employment tax, regardless of the holding period.
LB&I’s compliance campaign focuses on taxpayer reporting of purchase price allocations in taxable asset acquisitions.
Proposed carried interest regulations are mostly as expected with a few new items and detailed computational rules.
RSM US LLP is a limited liability partnership and the U.S. member firm of RSM International, a global network of independent audit, tax and consulting firms. The member firms of RSM International collaborate to provide services to global clients, but are separate and distinct legal entities that cannot obligate each other. Each member firm is responsible only for its own acts and omissions, and not those of any other party. Visit rsmus.com/aboutus for more information regarding RSM US LLP and RSM International.
© 2021 RSM US LLP. All rights reserved.