The Ways and Means Committee of the U.S. House of Representatives on Thursday said it will hold hearings after the July 4 congressional recess on taxation of private-equity firms and related issues, Reuters reported.
According to Reuters, New York Democratic Rep. Charles Rangel, chairman of the powerful tax-writing panel, said, "We believe it is imperative that Ways and Means ... conduct a hearing on the important issues surrounding private equity, carried interest and publicly traded partnerships."
U.S. lawmakers are increasingly focused on taxation of the booming private-equity sector and the impending initial public offering of Blackstone Group LP, one of the nation's largest private equity firms, Reuters reported.-New York State Society of Certified Public Accountants
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