Purpose – The purpose of this paper is to consider the appropriate Internal Revenue Service (IRS) tax filings for individual and fund‐of‐fund (FOF) investors who have incurred losses from hedge fund fraud. Design/methodology/approach – The paper describes the types of losses investors...

Purpose – The purpose of this paper is to highlight the quandary that a taxpayer may be in when choosing between disclosing a tax return position that may be contrary to Internal Revenue Service (IRS) authorities and potentially subjecting the taxpayer to substantial penalties if the position...

Purpose – The purpose of this paper is to highlight the continuing diligence required of the tax compliance function of any investment vehicle that holds commodities contracts. In addition to monitoring Congressional developments that are likely to pick up where 2010's Dodd‐Frank Act left...

Purpose – The purpose of this paper is to update investors who have incurred losses from fraudulent enterprises since the publication of Lorence's “Tax consequences for investors in hedge fund frauds”. The critical development is that taxpayers who filed in reliance on the so‐called...

Purpose – The purpose of this paper is to provide an introduction to the distribution of mutual funds around the world, including a background on the lack of sales of US funds offshore and initial practical legal and compliance considerations regarding fund structure, multi‐jurisdictional...

Purpose – The purpose of this paper is to explain the background, scope, applications, criticisms, and UK legal challenge of the European Union's Financial Transaction Tax (FTT). Design/methodology/approach – The paper explains the “enhanced cooperation” from the 11 member states...

The research focuses on a survey addressed to specialists in the field of financial audit. The purpose is to find out their opinion on aspects related to tax audit, principally in its private but also in its public dimension. Some conclusions are: scope – a high percentage (75 percent) thinks...