HOUSE_OVERSIGHT_026779.jpg
2.07 MB
Extraction Summary
1
People
3
Organizations
1
Locations
2
Events
0
Relationships
3
Quotes
Document Information
Type:
Legal/client alert memorandum
File Size:
2.07 MB
Summary
This document is a legal 'Client Alert' analyzing the impact of the Tax Cuts and Jobs Act signed in late 2017, specifically focusing on how the new laws affect asset management firms and 'carried interest.' It details the new three-year holding period requirement for capital gains to be eligible for long-term tax rates. The document bears a House Oversight Bates stamp, suggesting it was obtained during a congressional investigation, likely related to financial records.
People (1)
| Name | Role | Context |
|---|---|---|
| Donald Trump | President |
Mentioned as signing the Tax Cuts and Jobs Act into law.
|
Organizations (3)
| Name | Type | Context |
|---|---|---|
| IRS |
referenced regarding future notices or regulations to be issued
|
|
| Congress |
referenced regarding future legislation
|
|
| House Oversight Committee |
Implied by the Bates stamp 'HOUSE_OVERSIGHT_026779'
|
Timeline (2 events)
2017-12-22
Locations (1)
| Location | Context |
|---|---|
|
Context of federal tax law
|
Key Quotes (3)
"The Tax Cuts and Jobs Act (the "Tax Act"), which was signed into law by President Trump on December 22, 2017, contains the most sweeping federal tax law changes since 1986."Source
HOUSE_OVERSIGHT_026779.jpg
Quote #1
"Carried Interest Survives in Modified Form"Source
HOUSE_OVERSIGHT_026779.jpg
Quote #2
"The change in carried interest taxation clearly impacts managers of hedge funds more than managers of private equity funds or real estate funds..."Source
HOUSE_OVERSIGHT_026779.jpg
Quote #3
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