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Monday, July 6, 2009

Offshore Accounts

The IRS is increasing its scrutiny of Hedge Funds and private equity investors in regards to their funds that are being held in offshore accounts. Surprisingly, a good amount of those funds include money held for tax-exempt foundations and endowments. As of now, the IRS is only looking for more disclosure from the Hedge Funds by enforcing the submission of a specific report which details the funds held offshore. There is no telling how this may affect the investing strategies of non-profits, but it may lead to some interesting transparency on where their investments are held.

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