Purpose – The purpose of this paper is to explain some tax management complications for onshore and offshore hedge funds posed by US FIN 48, Uncertain Tax Positions, and to emphasize the hedge fund manager's responsibility for careful tax planning and compliance. Design/methodology/approach...

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...