The live-streaming virtual event will return December 10-11. Here’s an inside look at what FRA has planned for the industry’s most complete and concise tax event for both private equity and hedge funds.
This year’s Private Investment Fund Tax & Accounting Forum will arm tax and accounting firms, fund administrators, attorneys with fund clients, portfolio companies, and funds from around the country with insights on key industry issues.
Here’s a breakdown of the timely topics industry experts will discuss:
- IRS audit activity updates, including an overview of the current IRS enforcement landscape and its impact on partnerships and high-income taxpayers; recent exam trends impacting private funds, managers, and investors; and IRS audit preparation, response strategies, and best practices for managing interactions with IRS officials.
- Navigating digital asset taxation and regulations for cryptocurrency, with a spotlight on IRS guidance and Form 1099-DA and recordkeeping requirements for taxpayers, the practical implications of the IRS regulations on brokers and taxpayers, different taxable events related to digital assets under current tax laws, and strategies to ensure compliance with the new reporting requirements.
- State and local taxes and the complex multistate tax issues related to carried interest and resident credits, the possible pass-through entity tax elections for investment funds of management companies with partners located in multiple states, effective tax strategies that optimize carried interest and resident credits to maximize tax efficiency, and an update on the tax rules applicable to remote working employees.
- Exclusion of gain on qualified small business stock, with a focus on qualified small business stock (QSBS) within private investment funds, strategies to maximize the tax benefits associated with QSBS, and best practices for documenting and reporting QSBS transactions.
- Year-end tax planning and planning for the future, including the adaptive tax strategies that can respond to the election outcome, specific year-end tax planning techniques, and long-term tax planning strategies that consider various scenarios post-election.
- Navigating the future for private funds will be a key focus area during a keynote address from Sulolit “Raj” Mukherjee, executive director, compliance & implementation, Office of Digital Asset Initiative, IRS.
- Navigating the SEC landscape, with a look at recent enforcement actions and lessons learned from recent marketing rule violations and off-channel communications, effective financial reporting, accounting, and disclosure violations and auditor failures in professional conduct, and updated form PF reporting requirements for hedge fund and private equity fund managers effective in 2025.
- Preventing business fraud and essential strategies for accounting professionals, including common fraud schemes and tactics that specifically target private investment funds, effective internal control mechanisms designed to prevent, detect, and respond to fraudulent activities, and comprehensive fraud risk assessments to identify potential vulnerabilities.
- Updates on IT and cyber practices and enhancing security and efficiency, with a look at efficient IT solutions tailored for private investment funds, advanced cybersecurity practices and strategies to protect sensitive financial data, and best practices for enhancing data privacy and protecting client information.
- Analysis of recent court decisions affecting private investment funds, evaluating YA Global v. Commissioner Tax Court Decision and Soroban Capital Partners v. Commissioner Case.
Forum attendees also have an opportunity to earn CPE credits from the virtual event. Participants can either earn 11.0 CPE credits for both days, or 5.5 CPEs for attending one of the two days.
To learn more about FRA’s Private Investment Fund Tax & Accounting Forum, including the full agenda, list of speakers, and registration information, click here.