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KPMG: Amendment to the Chairman’s Mark, Including Provision Addressing Carried Interests

Thursday, November 16, 2017   (0 Comments)
Posted by: CalALTs
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The Ways and Means Committee started its markup of tax reform on Monday. That evening, Chairman Brady released an amendment to his previous amendment in the nature of a substitute proposing changes to last week’s Chairman’s Mark.

This amendment would add a new section 1061 to the Code addressing the taxation of “applicable partnership interests” which appears intended to address the long-debated tax treatment of carried interests. [Read More

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