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Tax-News.com: IRS Will Close Carried Interests Tax Loophole

The Internal Revenue Service has said it will soon issue regulations to confirm that S corporations are also subject to the three-year holding period for partnerships interests introduced in the Tax Cuts and Jobs Act, to prevent individuals from circumventing the measure.

MCTC locations have closed for the 2021 tax season.  We are wrapping up tax returns currently in process and will reopen in January 2022