Hedge Funds in the Bulls Eye: The IRS Joins the Hunt

November 15, 2007

The Internal Revenue Service (IRS) has joined the hunt targeting hedge funds. Last week, the IRS announced an audit initiative in which it will look at, among other things:

  • Status as Investor, Trader, or Dealer (including effect of loan organization)
  • Cross Border Swaps
  • Allocation and timing of Incentive Payments
  • Characterization of income as ordinary or capital gain

The teleconference will help you prepare for the IRS and will discuss:

  • Battleground issues with the IRS
  • What to expect if the IRS comes knocking at your door
  • Steps you can take now to prepare

We will also give a brief update on federal legislation targeting hedge funds.