The IRS issued proposed regulations on July 31, 2020 to provide guidance that would impact many investment fund and hedge fund managers. The proposed regulations include detailed rules to implement Section 1061 of the Code. Section 1061 applies generally to carried interests issued by partnerships in the trade or business of raising capital and investing in or developing stock, securities or other specified assets such as commercial real estate. The Alert can be found here.
Client Alert: Proposed Regulations On Carried Interests Would Impact Many Fund Managers – August 6, 2020
