Ideas & Insights

Bill would treat carried interest as ordinary income and subject to it to self-employment tax, regardless of the holding period.

Tax technology tools are always changing. Innovation can’t outpace you if you’re prepared with the right data and the right team.

Effective Jan. 1, 2021, the long-standing terminating business gain exclusion for unincorporated business tax purposes is eliminated.

LB&I’s compliance campaign focuses on taxpayer reporting of purchase price allocations in taxable asset acquisitions.

In this short video, we bring you up to date on the final carried interest regulations and give guidance on actions fund managers may take.

Final regulations address self-charged interest and trading partnerships, but reserve on tiered partnerships and other items.

New final regulations include rules for CFCs, depreciation/amortization ‘add-back recapture’ and self-charged interest.

In lieu of an in depth analysis, partnerships may utilize one of three ‘snapshot’ methods to comply with tax capital reporting requirements.

Tax planning opportunities for consideration in light of COVID-19, the resulting economic crisis, and evolving tax laws and regulations.

PartnerSight is a cloud-based platform that delivers tax data in real time, providing powerful insights to make better investment decisions.

This Alert summarizes impacts of the recently-issued interest deduction limitation guidance on the real estate industry.

Taxpayers often struggle to quantify participation for the passive activity rules. A recent court decision may affect those calculations.

Proposed carried interest regulations are mostly as expected with a few new items and detailed computational rules.

In a request for comments, the service outlines potential calculation methods – but also suggests disallowing an extremely common method.

The ability to revoke elections and file amended returns means partnership may have more than one option to benefit from CARES Act.

Notice 2020-23 clarifies that most filing, payment and election obligations for S corporations and partnerships is postponed until July 15.

Motivated by the tax relief provisions of the CARES Act, the IRS is allowing all partnerships to file 2018 and 2019 amended returns.

State tax cash-flow maximization and risk minimization are available for private equity groups and their portfolio companies.

Employees working remotely due to the COVID-19 pandemic may result in income tax consequences to both the employee and the employer.

Law firms and professional services businesses are experiencing challenges with the COVID-19 pandemic, creating state and local tax issues.