Treasury Secretary Jack Lew, IRS Commissioner John Koskinen, and IRS Chief Counsel William J. Wilkins
Show Us the Money: How much does the Carried Interest Loophole cost America?
We urge the IRS to gather information so that the public can understand the TRUE amount of tax money we lose each year due to millionaire & billionaire private equity fund managers using the unfair carried interest tax loophole.
Why is this important?
The carried interest tax loophole allows wealthy private equity managers to pay taxes at a lower rate than teachers, firefighters and nurses. What's even WORSE is that we don't even know how much tax money we lose each year to millionaire & billionaire fund managers taking advantage of this loophole. But the Internal Revenue Service (IRS) has the power to fix this, and to "show us the (lost) money."
We urge the IRS to require alternative asset managers (like private equity funds) to disclose the amount of carried interest they received in their annual tax filings.
Want to learn more? See Americans for Financial Reform's letter to the IRS: bit.ly/showusthelostmoney
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