IRS Issues Final Regulations on Taxation of Carried Interest Under Section 1061
By EsqSocial Corporation 15/01/21
On January 7, 2021, the Internal Revenue Service (the “IRS”) and the Department of the Treasury released final regulations (the “Final Regulations”) implementing the provisions of Section 1061 of the U.S. Internal Revenue Code of 1986, as amended (the “Code”). Section 1061, which was enacted as part of the most recent U.S. tax reform in 2017, generally extends the holding period required to benefit from the favorable long-term capital gain treatment from one year to three years in certain cases....
By: Mintz - Real Estate, Construction &