Quick Carried Interest Guidance Due if Extenders Bill Passes, Official Says

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Tax officials are geared up to respond quickly with guidance in the event that Congress passes carried interest legislation in a post-election session, a Treasury official says. Speaking at a Practising Law Institute tax strategies seminar, Robert Crnkovich, senior counsel in the Treasury Office of Tax Policy, says that the government would devote the necessary resources to address the issues raised by the bill as quickly as possible in the event of passage. “It's premature to say what we would do, but we are geared up to respond quickly if legislation is passed in the lame-duck session,” he explains.