Photo of Brianna Reed

Brianna Reed is an associate in the firm's Tax Department and a member of the Private Funds Group.

Her practice focuses on tax planning for domestic and international private investment funds, including venture capital, hedge, secondary, funds-of-funds, and other investment partnerships. Brianna counsels sponsors on all types of fund-related transactions and operations, including:

  • fund formation and fund-raising;
  • fund structuring and internal organization;
  • carried interest and other compensation arrangements;
  • buy-side secondary transactions and sell-side secondary transactions;
  • fund restructurings; and
  • portfolio company investments.

She also counsels investors regarding various tax considerations as they invest  in private funds and co-investment vehicles. These clients include:

  • institutional investors;
  • non-U.S. entities;
  • tax-exempt organizations;
  • U.S. persons making investments outside of the U.S.; and
  • regulated investment companies.


Brianna’s pro bono work involves advising non-profit organizations on applying for and maintaining federal income tax exemption, and advocating on behalf of victims of domestic violence and abuse. She received Proskauer’s Golden Gavel Award for excellence in pro bono work in 2019.

Brianna serves on the Steering Committee of Proskauer’s Women’s Alliance. She was also one of a few women selected to be a Protégée for Proskauer’s Women Sponsorship Program, an initiative for high performing midlevel lawyers that champions emerging leaders.

Outside of Proskauer, Brianna is a member of the Taxation Law Section Council of the Massachusetts Bar Association, which educates lawyers in areas of tax law and provides leadership in state tax law changes. She was selected as a fellow for the Massachusetts Bar Association’s Leadership Academy Class of 2021-2022. Brianna is also active in volunteer activities involving educational initiatives.

Prior to joining Proskauer, Brianna was an associate at a premier law firm, where she maintained a broad tax practice, including advising on tax aspects of mergers and acquisitions and other complex business transactions. She also previously worked in the tax department of a major U.S. defense contractor.

On January 7, 2021, the Internal Revenue Service (the “IRS”) and the U.S. Department of the Treasury (the “Treasury”) issued final regulations[1] (the “Final Regulations”) providing guidance on Section 1061 of the Internal Revenue Code (the “Code”).[2] The Final Regulations modify the proposed regulations[3] (the “Proposed Regulations”) that were released in July of 2020. We previously discussed the Proposed Regulations with a series of “Key Takeaways” in our client alert published here. This post highlights certain changes made to the Proposed Regulations, and certain important provisions of the Proposed Regulations that remain unchanged in the Final Regulations.

On April 23, 2020, the Treasury Department and the Internal Revenue Service (the “IRS”) issued proposed regulations (the “Proposed Regulations”) under Section 512(a)(6) of the Internal Revenue Code (the “Code”).  Section 512(a)(6) was enacted as part of the 2017 Tax Cut and Jobs Act (the “TCJA”) and requires exempt organizations (including individual retirement accounts)[1] to calculate unrelated business taxable income (“UBTI”) separately with respect to each of their unrelated trades or businesses, thereby limiting the ability to use losses from one business to offset income or gain from another.