United States
Senator Wyden’s recent ‘discussion draft’ legislation, if enacted, would drastically alter many of the tax rules that apply to partnerships.
The CFPB released a ruling surrounding closed-end mortgage requirements' timeliness regarding the newly enacted Juneteenth federal holiday.
The basis reduction following a discharge of qualified real property business indebtedness (QRBPI) may take place in the year of discharge.
Guidance provides procedures to implement the retroactive 30-year ADS recovery period for residential rental property.
Partnerships making certain narrow, and specified changes, may not need to file administrative adjustment requests.
Proposals include a $500,000 cap on gain deferral for like-kind exchanges and eliminating stepped-up basis with a $1 million exemption.
Summary of the American Families Plan and the potential impact that it could have on the real estate industry.
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.
The Eleventh Circuit determined that reserved rights for homesites did not violate section 170(h)(2) charitable contribution rules.
IRS releases a statement announcing that the application period for the CAP program is now open to qualifying corporations for 2021.
Reopening risks weighed on midstream energy performance and relatively attractive yields benefited real estate.
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.
The recent IRS Notice provides relief in the form of flexibility for investment timing and testing periods for QOFs and their investors.
The IRS released proposed regulations that clarify five-year rehabilitation credit period created by the Tax Cuts and Jobs Act.