Ideas & Insights

Disaster relief may provide liquidity for individuals and businesses located in areas affected by presidentially declared disasters.

Revenue procedure allows treatment of qualified residential living facility operations as a section 163(j) real property trade or business.

The final regulations broaden the definition of real property compared to the more restrictive definition in the proposed regulations.

Final section 864(c)(8) regulations clarify rules for foreign partners with ECI from transfers of partnership interests.

IRS releases a statement announcing that the application period for the CAP program is now open to qualifying corporations for 2021.

This webcast will discuss carried interest regulations and what the proposed rules mean for investment fund managers.

This Alert summarizes impacts of the recently-issued interest deduction limitation guidance on the real estate industry.

Taxpayers often struggle to quantify participation for the passive activity rules. A recent court decision may affect those calculations.

Notice 2020-59 proposes a revenue procedure clarifying real property trade or business elections for residential living facilities.

The new proposed regulations clarify what constitutes ‘real property’ for purposes of section 1031 to help implement changes in TCJA.

Notice 2020-32 disallows deductions for expenses paid with loan proceeds from the PPP when loan forgiveness occurs.

The CARES Act adds to the complexity of state tax conformity to qualified improvement property. Learn how states approach the issue.

The Coronavirus Aid, Relief and Economic Security Act has led to significant tax changes and relief for real estate owners and operators.

The ability to revoke elections and file amended returns means partnership may have more than one option to benefit from CARES Act.

Procedures provide guidance for the retroactive expensing of qualified improvement property and reconsidering of elections.

Industry groups are requesting clarification of the deadlines as extended by Notice 2020-23, which appears to offer a limited time frame.

Provides more time to elect out of 163(j) interest deduction limitation for taxpayers with certain real property or farming businesses.

The IRS provided long-awaited guidance for taxpayers anxious to take advantage of the NOL provisions in the CARES Act.

Recent guidance provides that certain deadlines, including the allowable time to invest in a QOF, are now extended because of COVID-19.

The IRS issued guidance extending the time for taxpayers to file certain Form 3115s and Form 1128s to July 15, 2020.