Although 2020 has not gone the way anyone planned or expected, some things never change or go away – even in the midst of a pandemic – and that includes taxes. Thus, the principals of hedge fund managers and other high net worth individuals still need to take stock of their potential tax exposure before year-end. The end of the year is also the time for fund managers to consider their funds’ tax pictures as well. In fact, given the pandemic and the possible consequences of a change in administration in the White House, year-end tax planning in 2020 may be even more important than in other years. The Hedge Fund Law Report spoke to Philip S. Gross, partner at Kleinberg Kaplan and chair of the firm’s tax department, about year-end tax-planning issues for both the principals of hedge fund managers and their funds, including any special considerations for 2020 due to the coronavirus pandemic and the results of the presidential election. This article sets forth his thoughts on those topics. For additional insights from Gross, see “Considerations for Hedge Fund Managers When Evaluating Management Shares for Their Cayman Funds” (Jun. 20, 2019); and “How to Draft Key Hedge Fund Documents to Take New Partnership Rules Into Account” (Feb. 11, 2016).