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Changes to Income and Excise Taxation of Mutual Funds Under the Regulated Investment Company Modernization Act of 2010  


Author:  Paul  Murphy.


Source: Volume 28, Number 03, Spring 2011 , pp.25-38(14)




Journal of Taxation of Investments

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Abstract: 

The Regulated Investment Company Modernization Act of 2010 updates various technical tax rules applicable to regulated investment companies (RICs), reducing the tax risks and administrative burdens on RICs and their shareholders. The Act also extends to RICs certain favorable provisions that previously had applied only to real estate investment trusts (REITs), which are subject to similar tax treatment under Subchapter M of the Code. This article provides an overview of the changes made by the Act, and addresses practical considerations for taxpayers affected by the new provisions. Copyright © 2011 Deloitte Development LLC.

Keywords: Regulated Investment Company; IRC Subchapter M; capital loss carryover; late-year loss deferral

Affiliations:  1: Deloitte Tax LLP.

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