November 3, 2021 IRS issues new FAQs providing instructions for certain carried interest reporting The IRS has announced (IR-2021-215) new reporting guidance in the form of frequently asked questions (FAQs) that provide instructions for certain pass-through entities and taxpayers reporting partnership interests held in connection with the performance of services, also known as carried interests. The FAQs include sample worksheets that some taxpayers may be required to use to report carried interests on tax returns filed after December 31, 2021, in which a pass-through entity applies the final regulations (TD 9945). A Tax Alert is forthcoming. | ||||