Law360, New York (February 08, 2012, 6:01 PM ET) -- The post-financial crisis, post-Dodd-Frank era has created challenging times for private equity. In this article, we look back at 2011 for clues for what private funds and their managers should expect in 2012.

U.S. Tax Outlook: Carried Interest Uncertainty; New Withholding Obligations

Carried Interest Uncertainty

Carried interest taxation remained a target in 2011, although Congress passed no legislation changing the long-standing flow-through treatment of carried interest income. President Obama’s proposed American Jobs Act of 2011 would have (if passed) treated all of an investment professional’s carried...