West Palm Beach (HedgeCo.net)- In a recent IRS Revenue Ruling addressing the tax treatment of management fees incurred in a “fund of funds” structure, the IRS’s has severely restricted UPTs (upper tier partnerships) from obtaining tax benefits from management fees.
In a typical fund of funds structure, an investment is made by a limited partner […]

The Internal Revenue Service (“IRS”) has recently issued new rulings and regulations that have an impact on tax filings by many hedge funds.  The new rulings deal with the deduction of investment interest expense for trading funds and fund-level expenses incurred by fund-of-hedge funds.
Investment Interest Expense
The ruling recently issued by the IRS regarding investment interest […]

Seattle Times- The House on Wednesday approved a plan to protect more than 20 million families from an expensive levy called the alternative minimum tax (AMT) while raising taxes on hedge-fund managers and oil companies. But the measure has little hope of Senate passage, Senate leaders said.
The House voted 233-189 to prevent the AMT from […]