IRS Proposes Restricting Carried Interest Workaround In TCJA

Law360 (July 31, 2020, 1:20 PM EDT) -- The IRS proposed rules Friday that would restrict a workaround in the 2017 tax overhaul that has allowed some hedge fund managers to avoid a three-year holding period to qualify for preferential capital gains rates on carried interest.

The IRS proposed regulations to close a loophole in the TCJA that grants fund managers a preferential tax rate on carried interest. (AP) The proposed rules under Internal Revenue Code Section 1061 would carry out changes from the Tax Cuts and Jobs Act requiring carried interest to be held for at least three years, instead of one year as under previous law, for taxation...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!