S 2617
Ending the Carried Interest Loophole Act
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Bill overview
This bill, the Ending the Carried Interest Loophole Act, aims to close a tax loophole that allows investment managers to defer taxes on their high earnings from private equity, real estate, and hedge funds. Currently, carried interest—compensation received for managing investments—can be taxed at a lower rate than ordinary income. The bill would require partners to recognize this income annually as ordinary income, subject to self-employment tax, effectively ending the deferral of taxation. It also modifies how partnership interests transferred in connection with services are treated for tax purposes.
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