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Carried Interest Rules Near as White House Review Ends

July 20, 2020, 1:00 PM

The White House regulatory review office has finished its study of proposed rules that could halt a workaround of a restriction on preferential tax treatment for fund managers.

The Office of Information and Regulatory Affairs completed the Section 1061 rules July 16, its second time reviewing the guidance.

  • The rules are expected to take aim at a provision of the 2017 tax law that exempted corporations from a longer holding period for investment profits to qualify for a 23.8% tax rate instead of the top 37% rate. The perk is known as carried interest.
  • The White House review is...
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