Newsflash: Protecting Americans from Tax Hikes Act of 2015 Approved by Congress and Signed by the President

December 21, 2015

President Obama signed the Protecting Americans from Tax Hikes Act of 2015 (the “Act”) into law on December 18, 2015. The Act extends retroactively certain provisions of the Internal Revenue Code (the “Code”) that had expired at the end of 2014 and makes a number of other changes to the Code. The Act makes significant changes to the tax treatment of non-U.S. investors with respect to investments in regulated investment companies (“RICs”), real estate investment trusts (“REITs”) and U.S. real property more generally.

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