Hedge funds brace for IRS scrutiny
Wed Sep 1, 2004
A federal court ruling that would force former principals of
Long-Term Capital Management to pay in excess of $40 million in
back taxes is sending shockwaves across the hedge fund industry
where compliance rule books are being rewritten.
Industry players say they are anticipating increased
pressure on hedge funds, their legal advisors and auditing
firms when it comes to developing and implementing best
practices for tax compliance. The fear is a renewed
ISSN: 2151-1845 / CDC10004H
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