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House Tax Bill Includes Numerous Provisions Affecting Asset Management Industry

May 28, 2025
Article

House Tax Bill Includes Numerous Provisions Affecting Asset Management Industry

May 28, 2025

The U.S. House passed a tax bill reflecting President Trump's agenda, impacting asset management. As it heads to the Senate, Republicans aim for a July 4 enactment. Asset managers can now strategize around key business tax provisions, though some surprises may still emerge.

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Article

New Reporting Requirements for Distributions of Securities from Investment Partnerships

May 27, 2025
Article

New Reporting Requirements for Distributions of Securities from Investment Partnerships

May 27, 2025

The IRS introduced Form 7217 for partners in investment partnerships, requiring reporting of non-cash property distributions starting in 2024. It applies to private equity, venture capital, hedge funds, and funds of funds, including during fund restructurings.

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Article

Thinking of Leaving the U.S.? Beware of Taxes!

May 27, 2025
Article

Thinking of Leaving the U.S.? Beware of Taxes!

May 27, 2025

Leaving the U.S.? Understand tax implications: worldwide income, exit taxes, and more. BDO offers tailored guidance for your transition. Contact us for expert advice.

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Article

House Vote Tees up $4 Trillion Tax Bill for Senate Action

May 22, 2025
Article

House Vote Tees up $4 Trillion Tax Bill for Senate Action

May 22, 2025

The U.S. House of Representatives narrowly passed a nearly $4 trillion tax bill, advancing it to the Senate where significant changes are anticipated. The bill, a major step in the reconciliation process, includes adjustments such as increasing the SALT deduction cap and modifying energy credits.

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