Oct. 02, 2020 - Bill 42, An Act to give effect to fiscal measures announced in the Budget Speech delivered on 21 March 2019 and to various other measures was assented to on September 24, 2020, bringing into force the new rules respecting the disclosure of nominee contracts to Revenu Québec (RQ ). The...
Presentation: New IRS Partnership Audit Rules for Tax Counsel: Preparing for Massive Changes
This presentation discusses the far-reaching aspects of the new partnership audit rules provided by the Bipartisan Budget Act of 2015 and how this legislation will affect the formation and operations of partnerships, as well as the disposition of partnership interests and admission of new partners. Heath Martin presented this as part of an expert panel that provided a critical look at the impact of this law. His presentation offers insights on how to address changes brought about by the new audit processes and identifies commercial and operational concerns arising from the legislation.
Sept. 29, 2020 - The U.S. Internal Revenue Service (IRS) published proposed regulations (the Proposed Regulations) on August 14, 2020, providing much-needed guidance on the implementation of the carried interest rules under Section 1061. 1 These rules will be of great interest to investment fund managers as well...