Carried Interest Tax Rules Slated for 2020, Official Says

(Bloomberg) Rules would likely limit tax breaks for hedge fund managers, Courts, tax lawyers say Treasury rules could be challenged. The Treasury Department is planning to issue regulations restricting how hedge fund managers can claim a valuable tax break early next year, a top Treasury official said. The regulations will likely bar money managers from using S corporations to take advantage of an exemption to new rules for carried interest contained in President Donald Trump’s tax legislation. The rules are slated for early 2020, David Kautter, Treasury’s assistant secretary for tax policy, said Wednesday at a American Institute of Certified Public Accountants event in Washington.

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