IRS Issues Final Regulations on Partnership Carried Interests
By EsqSocial Corporation 27/01/21
On January 13, 2021, the Internal Revenue Service (“IRS”) and the U.S. Treasury Department (“Treasury”) issued the official version of Final Treasury Regulations (the “Final Regulations”) providing guidance under the “carried interest” rules of Section 1061 of the Internal Revenue Code of 1986, as amended (the “Code”). The Final Regulations address a number of previously open questions regarding the scope and implementation of Section 1061 which was enacted as a part of the 2017 Tax Cuts and...
By: Locke Lord LLP