CareersPresident Biden Targets Private Equity by Treating Tax on Carried (Profits) Interests as Ordinary Income
July 28, 2021 Under certain circumstances, profits from a partnership interest owned by service partners are taxed at capital gain rates versus ordinary income rates. And, according to the Department of the Treasury, activity among large private equity firms and investment funds has increased the breadth and cost of this tax preference—i.e., structuring transactions in […]