Tax Implications of Private Fund Activities for Non-U.S. Investors After Ya Global
Recent Tax Court Decision in YA Global Investments LP v. Commissioner; Reporting and Compliance, Withholding Tax, and More
Recording of a 90-minute premium CLE/CPE video webinar with Q&A
This CLE/CPE webinar will provide tax counsel and advisers guidance on the tax implications of private fund activities for non-U.S. investors. The panel will discuss the recent tax court decision in YA Global Investments L.P. v. Commissioner and its impact on non-U.S. investors, as well as offer critical tax planning considerations under current tax law in light of this recent tax court decision.
Outline
- Overview of tax court ruling in YA Global Investments L.P. v. Commissioner
- Identifying foreign partners and offshore partnership structures
- Calculating effectively-connected taxable income (ECTI)
- Section 1446 tax liability
- Best practices for tax counsel, private funds, and fund managers
Benefits
The panel will discuss these and other key issues:
- What are the key takeaways from the tax court's ruling in YA Global Investments L.P. v. Commissioner?
- What goes into the calculation of the withholding amount under Sections 864(c)(8), 1445, and 1446(f)?
- Differentiating between various form reporting requirements
- How do you remedy prior withholding noncompliance?
- What are the next steps and best practices for tax counsel, private funds, and managers to minimize adverse tax consequences?
Faculty
Jay Freedman
Principal
KPMG
Mr. Freedman is a principal in KPMG LLP’s Financial Services Tax practice. For more than 20 years, he has focused... | Read More
Mr. Freedman is a principal in KPMG LLP’s Financial Services Tax practice. For more than 20 years, he has focused on a broad array of tax issues, across financial products and derivatives, cross-border structuring and transactions, partnership tax, and corporate tax, with an emphasis on issues related to the alternative investment and banking industries. Mr. Freedman has significant experience in both tax consulting and tax compliance and regularly advises clients on tax planning for structuring funds and portfolios. He offers clients an experienced perspective, having served in several senior-level in-house positions at major organizations in the international investment manager, securities dealer, and investment bank sectors, and is able to offer both buy-side and sell-side perspectives. Mr. Freedman is a member of the board of directors of the Wall Street Tax Association, as well as a past-president and past-chairman of its Federal Tax Committee. He is also a member of the Managed Funds Association Tax Committee and has participated in a number of industry group efforts through the Securities Industry and Financial Markets Association and the International Swaps and Derivatives Association. Mr. Freedman is a frequent speaker on topics that include alternative investments, financial products, and other tax issues related to the financial services industry and is a co-author of KPMG’s Derivatives Tax Handbook.
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Mark H. Leeds
Partner
Mayer Brown
Mr. Leeds focuses his practice on the tax consequences of a variety of capital markets products and strategies. He... | Read More
Mr. Leeds focuses his practice on the tax consequences of a variety of capital markets products and strategies. He advises on the tax aspects of capital markets, structured finance, derivatives, financial products and insurance transactions and has extensive experience working with both buyers and sellers to develop and structure complex derivatives. A significant portion of his work involves the taxation of financial products and trading strategies engaged in by banks and other financial market participants.
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