Foley & Lardner LLP Partner Jason Kohout is quoted in the Bloomberg article, “Renaissance Ends No-Fee Investment Perk After IRS Complaints,” about how Renaissance Technologies has ended its no-fee Medallion investment fund for employees after the IRS argued that such fee waivers should be considered taxable compensation.
Kohout said that while it is murky territory, “It is kind of common to say ‘we are not going to take compensation to avoid any self-dealing issues.’”
“IRS guidance in this area is pretty limited, especially when it comes to the ways investment managers are paid,” he added.
The article also ran in Accounting Today and Financial Advisor.
People
Related News
24 April 2024
In the News
Judith Waltz Discusses Nursing Home Staffing Mandate, Potential Legal Challenges
Foley & Lardner LLP partner Judith Waltz offers insight on a new nursing home staffing rule from the U.S. Department of Health and Human Services and its impact on the industry in the Bloomberg Law article, “Nursing Homes, HHS on Collision Path Over Staffing Mandate.”
23 April 2024
In the News
David Sanders Discusses Lessons Learned from General Counsel Leadership Program
Foley & Lardner LLP partner David Sanders recently joined a panel discussion with members of The Vanguard Network’s General Counsels Advisory Group to discuss the evolving role of the general counsel.
23 April 2024
In the News
Claire Marblestone Discusses HHS Final Rule on Protected Health Information Disclosure
Foley & Lardner LLP Claire Marblestone assessed the U.S. Department of Health and Human Services’ final rule that bars providers, health plans, and other entities covered by the Health Insurance Portability and Accountability Act from disclosing protected health information in a Healthcare Dive article.