The IRS has issued final regulations on the 2017 tax law’s changes to a tax break involving what’s known as carried interest, which affects many investment fund and hedge fund managers.
The final regulations (T.D. 9945), released Thursday, modify parts of the proposed regulations related to tax code Section 1061 that were released in July 2019.
The 2017 tax law amended Section 1061 to increase the holding period necessary to receive preferential capital gains tax rates from one year to three years. As a result, certain partners in specified partnerships—primarily in financial and investment services—would pay higher ...
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