Identifying obscure but potentially costly tax issues is a skill. Solving them in the context of our client’s goals is an art, and one that Paul, Weiss practices at the highest level. Working closely with the Corporate and Restructuring Departments, our tax lawyers help clients solve problems, avoid pitfalls and uncover hidden value in all types of transactions.
Obama Administration Submits Draft American Jobs Act to Congress that Would Tax Carried Interest Tax as Ordinary Income
September 13, 2011
On September 12, 2011, the Obama administration submitted statutory language for the proposed American Jobs Act that includes an updated proposal to tax carried interest as ordinary income. The proposal is similar to earlier versions of the proposed legislation, but makes some significant changes described in the Client Alert.