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The Economic View in Sunday's New York Times by Harvard economics professor N. Gregory Mankiw ( Capital Gains, Ordinary Income and Shades of Gray ) defending special tax rates for carried interest brought to mind the old joke about a tourist asking a Maine farmer for directions to Augusta... The...

Pepper Hamilton LLP Tax Update: Carried Interest Fairness Act of 2012 Retains Capital Gain on Enterprise Value

By Steven D. Bortnick and Timothy J. Leska , Attorneys, Pepper Hamilton LLP On February 14, 2012, Rep. Sander M. Levin (D-Mich.) again introduced legislation (H.R. 4016) to tax income from carried interests at ordinary rates. Taxing Carried Interests We have previously reported on the proposals...