In 2024, several significant tax developments emerged that are set to impact the private fund industry in 2025. These changes include pivotal US Tax Court (Tax Court) opinions, updates to Internal Revenue Service (IRS) forms,...more
1/31/2025
/ Internal Revenue Code (IRC) ,
Investment Funds ,
IRS ,
Private Equity Funds ,
Private Funds ,
Regulatory Requirements ,
Tax Court ,
Tax Cuts and Jobs Act ,
Tax Planning ,
Tax Reform ,
U.S. Treasury
On April 24, the Internal Revenue Service (IRS) issued final regulations (Final Regulations) regarding Section 897. In December 2022, the IRS issued proposed regulations under Sections 897 (the Proposed Regulations) and 892...more
The US Department of Treasury recently released final regulations providing guidance on the exception from taxation under the Foreign Investment in Real Property Tax Act of 1980 for “qualified foreign pension funds” under...more
The IRS has effectively delayed the implementation of the new digital asset broker rules under Internal Revenue Code Sections 6045 and 6045A.
The US Treasury Department (Treasury) and Internal Revenue Service (IRS) recently...more
Recently proposed tax legislation, if enacted, would fundamentally alter the taxation of exchange‑traded funds. This LawFlash discusses the potential consequences of such legislation on industry participants, including retail...more
9/23/2021
/ Capital Gains ,
Commodity Pool ,
ETFs ,
Exchange-Traded Products ,
Grantor Trusts ,
Internal Revenue Code (IRC) ,
Publicly-Traded Companies ,
Qualifying Income ,
Registered Investment Companies (RICs) ,
Retail Investors ,
Tax Reform ,
Tax Revenues
In a recently released memorandum, the Internal Revenue Service suggests an expansion of those risks qualifying for the favorable tax treatment accorded insurance risks....more
The recently proposed regulations, if finalized, would govern the treatment of RICs’ income inclusions in respect of CFCs and PFICs for purposes of the income test applicable to RICs; in related guidance, the IRS also...more
Fines pertaining to violations of federal securities laws and certain FINRA rules may not be deducted.
The Internal Revenue Service (IRS) in low-level advice recently announced its position that certain fines paid to...more
The IRS recently provided relief from the RIC distribution requirement for money market funds that receive contributions in connection with the transition to a floating NAV, enabling RICs to top up their NAVs without having...more
5/24/2016
/ Diversification Requirements ,
Floating NAV ,
Income Taxes ,
Insurance Industry ,
Internal Revenue Code (IRC) ,
IRS ,
MMF ,
Money Market Funds ,
Registered Investment Companies (RICs) ,
RICs ,
Securities and Exchange Commission (SEC)
The PATH Act exempts certain foreign pension funds from taxation under FIRPTA and significantly modifies the tax rules applicable to REITs.
On December 18, 2015 (Enactment Date), US President Barack Obama signed the...more
1/6/2016
/ FIRPTA ,
Foreign Investment ,
Internal Revenue Code (IRC) ,
Pension Funds ,
Protecting Americans from Tax Hikes (PATH) Act ,
Real Estate Investments ,
Registered Investment Companies (RICs) ,
REIT ,
Securities and Exchange Commission (SEC) ,
Shareholders ,
Spinoffs