Tax Treatment of Carried Interest: IRS Regs and Strategies for Tax, Private Equity, Real Estate Professionals
IRC Section 1061, Capital Contributions, Transfers to Unrelated Parties, Special Allocations, Section 1231 Property
Recording of a 90-minute premium CLE/CPE video webinar with Q&A
This CLE/CPE course will guide tax counsel and advisers on the current tax law's impact on the treatment of carried interest and available planning opportunities. The panel will discuss IRS regulations, the application of Sec. 1061, Sec. 1231 property, implications of related party transactions, and planning techniques to ensure favorable capital gains treatment.
Outline
- Overview of the requirements for obtaining capital gains treatment under IRC 1061
- Impact of IRS final regulations
- Determining "applicable partnership interest" and "applicable trade or business"
- Applicability of IRC 1061 to 1231 property
- Planning ideas for avoiding IRC 1061 three-year holding period
- Best practices for compensation arrangements in light of new holding requirements under IRC 1061
Benefits
The panel will review these and other noteworthy issues:
- Treatment of carried interest and performance of services under IRC 1061
- Available tax planning techniques and strategies for partnerships for more favorable tax treatment
- Determining partnership interest that is "applicable partnership interest" subject to IRC Section 1061 holding requirements
- Understanding key planning issues regarding the applicability of IRC 1061 to 1231 property
- Potential planning opportunities presented by special allocations, transfers to unrelated parties, capital contributions, and distributions
- Best practices in ensuring favorable tax treatment in compensation arrangements involving carried interest
Faculty
David M. Lehn
Partner
Withersworldwide
Mr. Lehn is a partner in the private client and tax team. He has extensive experience in federal and state income,... | Read More
Mr. Lehn is a partner in the private client and tax team. He has extensive experience in federal and state income, estate and gift taxation. With his wide range of business and financial knowledge, clients look to him to apply his experience to structure complex business transactions and relationships and solve a variety of business-oriented problems while utilizing the benefits of trust, estate and tax planning. His clients include investors, entrepreneurs, senior level executives, family offices and fund managers and principals. His practice includes structuring investments and acquisitions, asset protection and preservation, and trust and estate planning.
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Richard S. LeVine
Special Counsel
Withersworldwide
Mr. LeVine's practice focuses on cross-border estate, gift and income tax planning for owners of privately held... | Read More
Mr. LeVine's practice focuses on cross-border estate, gift and income tax planning for owners of privately held companies and other high-net-worth U.S. and foreign individuals. He counsels clients on pre-immigration and pre-expatriation tax planning, offshore trusts and foundations deferred compensation planning for fund manager and structures involving life insurance. He has been heavily involved in advising clients on the IRS Voluntary Disclosure programs.
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Brian T. Lovett, CPA, JD
Partner
Withum Smith+Brown
Mr. Lovett has extensive experience serving the tax needs of both public companies and closely-held businesses,... | Read More
Mr. Lovett has extensive experience serving the tax needs of both public companies and closely-held businesses, including all aspects of tax compliance for partnerships and corporations. He advises clients with regard to the structure and tax consequences of new business ventures, and assists with restructuring existing businesses for increased tax efficiency. Prior to joining his firm, he was with a “Big 4” accounting firm, working closely with large, multinational real estate investment companies.
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