Ending the Carried Interest Loophole Act revises tax treatment of partnership interests received in connection with services.
The Ending the Carried Interest Loophole Act amends the Internal Revenue Code to revise the tax treatment of partnership interests received in connection with the performance of services. It includes provisions for deemed compensation amounts, applicable loans, and the treatment of partnership interests in taxable years. The bill also mandates reporting requirements for partnerships and provides for regulations to be issued by the Secretary of the Treasury. The changes apply to interests in partnerships transferred after the enactment of this Act.
The filed bill text is too short for analysis.