Recent Tax Developments Impacting Investment Funds
May 01, 2019
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The Investment Lawyer
The Tax Cuts and Jobs Act was signed into law in December 2017 and has been the subject of numerous 2018 and 2019 tax regulations and other Internal Revenue Service (IRS) guidance. Many of the Act’s changes have direct relevance for investors and investment funds. For taxable years through 2025, the Act reduced the top individual tax rate from 39.6 percent to 37 percent and suspended various deductions for individuals, including miscellaneous itemized deductions, such as investment management fees and expenses, previously allowable above a floor equal to two percent of adjusted gross income.
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