Nov. 30, 2023 10:00 am ET
The Inside Income Service scored a big win over the hedge-fund and asset-management industries this week in a case that would convey increased taxes for a lot of fund managers.
The U.S. Tax Court docket’s ruling might require managers to pay self-employment taxes of greater than 3% on a lot of their earnings. If the opinion survives extra authorized battles and is utilized broadly, it could shut off a well-liked approach that lets them exclude hundreds of thousands of {dollars} in earnings from self-employment taxes and associated levies that others should pay.
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