- Legislation that would eliminate the ability of US hedge fund managers to defer paying tax on management and performance fees from offshore hedge funds cleared the House of Representatives on May 21, 2008.
- Disputes over PAYGO in the Senate and a threatened White House veto likely will impede passage of this particular bill. However, the appearance in Congress of multiple legislative proposals targeting offshore fee deferrals, combined with the current media spotlight on hedge fund fee arrangements, increase the likelihood of passage of legislation curtailing offshore fee deferrals.
-
- |