Tax Extenders Bill (H.R. 4213) Is Multi-Dimensional

When signed into law, the American Jobs and Closing Tax Loopholes Act of 2010 (H.R. 4213) purports to: Help businesses, as well as state and local governments, with tax relief to create jobs; Provide health care access to military service members, the elderly, and the disabled; Close tax...

Carry Legislation Update

[On June 8th], the Senate began debate on a substitute for the American Jobs and Closing Tax Loopholes Act (H.R. 4213, or the "House bill"), which was passed by the House on May 28, 2010. Among other things, the Senate substitute bill subjects a smaller portion of carried interest to be taxed...

Fund Services Alert: Extenders Bill Update

There [was] no resolution [last] week with respect to the proposed legislation providing for a portion of carried interest to be taxed at ordinary income tax rates. The carried interest legislation was proposed in the tax extender's bill (H.R. 4213) passed by the House on May 28, 2010 (the "House...

Carried Interest Legislation Tabled (Again)

On June 24 the Senate again failed to pass the House-approved extenders bill (H.R. 4213), which is the legislation that proposes to change the way carried interest is taxed. The Senate had proposed a new substitute amendment (the Senate amendment) to the extenders bill (its third attempt at a substitute...