Once the dust settled after the marathon legislative efforts resulting in the passage of the One Big Beautiful Bill Act of 2025 (“OBBBA”), the real estate community collectively exhaled and began to parse through and unpack...more
For those keeping score at home, it’s currently two wins for the IRS in as many years, and nada/zilch/zero for the fund managers, at least when it comes to the limited partner exception for self-employment taxes (the “Limited...more