Regulatory Compliance Association Reviews

Emerging Issues and Developments in Taxation for Alternative Investment Managers™

Practice Edge 02

Date: January 27, 2016
General Session: 12 Noon to 1:30 PM EST
Location: Webcast (Free)

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This course will cover the tax topics that we believe will be the most important to investment funds and their managers as the industry heads into 2016. Much of the course will be a discussion of a number of important developments that occurred in 2015 and are still being absorbed by the investment fund industry and their tax advisors. We hope that participants will come away with a better understanding of the future challenges they will face in what promises to be an increasingly complex tax world for investment funds.

The most significant development probably is the recently passed legislation altering the federal audit procedures for partnerships. For the first time there will be the possibility of federal income taxes being imposed on a partnership as an entity. The legislation was somewhat of a surprise to the industry, and could have many implications for both operative and disclosure documents going forward. Treasury will need to enact what are sure to be extensive regulations before a clearer picture emerges of the full scope of the impact of this legislation on the funds industry.

Students will master the following at the conclusion of this session:

  • Recognize partnership audit changes
  • Identify disguised compensation regulations
  • Comprehend final swap withholding regulations
  • Master basket options
  • Analyze and apply section 305(c)
  • Grasp Poppe v. Comm’r (trader v. investor issue)
  • Interpret Sands v. Comm’r (self-employment taxes)
  • Comprehend state and local developments (nexus based sourcing; NYC/NYS corporate tax reforms)
  • Identify and utilize common reporting standards

Session Chairman:

Walter Zebrowski, JD, CPA, Principal, Hedgemony Partners
Chairman, Regulatory Compliance Association

Senior Fellows from Practice:

Jonathan Brose, JD, LLM, Partner, Seward & Kissel
Seda Livian, Senior Manager, Financial Services, Ernst & Young

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