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Tax Loopholes Partnerships

Allen Barron, Inc.

What is the “Abusive Use of Partnerships” and Why does the IRS Care?

Allen Barron, Inc. on

What is now considered as the “abusive use of partnerships,” and why would this matter to the IRS? The agency recently released IR-2024-166, which is intended to provide “new guidance to stop partnerships from using...more

Rivkin Radler LLP

The Schumer-Manchin Proposal To “Eliminate” the Profits Interest

Rivkin Radler LLP on

Summer Break? After the last couple of weeks, I’m looking forward to Congress’s summer vacation. I’m pretty sure our elected representatives feel the same way, though it is unclear at this point when they will be heading...more

Jackson Lewis P.C.

Inflation Reduction Act of 2022 Aims to Close Carried Interest Loophole

Jackson Lewis P.C. on

Earlier this week, Senators Manchin and Schumer reached an agreement securing the former’s support for a tax bill proposed by Senate Democrats entitled the “Inflation Reduction Act of 2022” (the “Act”). Included in the Act...more

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