OrbitaxIRS Releases Practice Units on Hedge Funds and Penalties for Failing to Timely File Return on Interests in Foreign Partnerships
|Approved Changes|United States
On 14 February 2017, the U.S. IRS published two international practice units:
- Hedge Fund Basics, which discusses typical hedge fund structures with a focus on tax issues related to a master fund; and
- Monetary Penalties for Failure to Timely File a Complete and Accurate Form 8865 – Category 1 & 2 Filers, which discusses the penalties related to filing Form 8865, which include an initial p…