Finance & Banking Residential Real Estate Tax

Read Finance & Banking Law updates, alerts, news, and legal analysis from leading lawyers and law firms:
News & Analysis as of

Real Property, Financial Services & Title Insurance Update: Weeks Ending November 14 & 21, 2014

REAL PROPERTY UPDATE - - Harris Act/Inverse Condemnation: dismissal was (1) improper as to landowners’ Harris Act claim because amendments to County’s land use plan were applied specifically to landowners’ property by...more

Low-income housing tax credit workouts and bankruptcies: Understanding the basics

Note: This post is the first in a continuing series on the Credit Report Blog on the subject of workouts and bankruptcies involving low-income housing tax credit (LIHTC) projects....more

New Markets Tax Credits for Real Estate Development

The new markets tax credit (‘‘NMTC’’) was added to the Internal Revenue Code as §45D2 by the Community Renewal Tax Relief Act of 2000.3 Initially the program was to provide allocations of the tax credit through 2007, but has...more

Sister Who Made Brother’s Mortgage Payments Not Allowed Interest Deduction

As a general rule, interest paid by individuals is not tax deductible. A principal exception to the general rule allows a deduction for “qualified residence interest,” i.e., interest with respect to indebtedness incurred in...more

Tax Talk -- Volume 7, No. 3 -- November 2014

In This Issue: - IRS Clarifies Deadline for Correcting Withholding Documentation - Consent Payment Modifying Contingent Payment Debt Instrument Must be Tested for Significance - IRS Concludes Correction of Error...more

Interest Deductions When Interest Added to Principal Balance

A cash basis taxpayer owes interest and principal to a lender on a home mortgage loan. The taxpayer goes to another lender, borrows additional money against the residence, and uses the loan proceeds to pay off the accrued...more

Regulators Decline to Exempt TOBs from Risk Retention Rule but Add Helpful Revisions and Clarifications

Although regulators have rebuffed industry efforts to have tender option bonds (TOBs) exempted from the final credit risk retention rule (the CRRR), they have nevertheless provided some helpful changes and clarifications that...more

Using the New Markets Tax Credit to combat chronic homelessness

In 2011, USBCDC, one of the largest New Markets Tax Credit investors, used the credit to finance a facility for Blanchet House of Hospitality, a social services nonprofit that provides three-meals-per-day, clothing and...more

Bye Bye Brazil! - Tax Planning Considerations for Brazilian Investment in the United States: Part 3 - Inbound Investment Real...

As an undergraduate at West Point, I was a Spanish and Portuguese major. My Brazilian “thing” had already started a decade earlier as a ten year old growing up in the Panama Canal Zone seeing Pele play for his Brazilian team...more

Bye Bye Brazil! - Tax Planning Considerations for Brazilian Investment in the United States: Part II – Additional Income Tax...

I have mentioned in prior articles my affiliation with the South Florida law firm Osborne and Osborne, PA in Boca Raton. Back to the beginning! Boca Raton is where I started right out of the Army in 1987. I moved to Miami for...more

DOD Proposes Expanded Coverage Of Military Lending Act Protections

On September 29, a proposed amendment to the U.S. Department of Defense’s regulation that implements the Military Lending Act (MLA) was published in the Federal Register, with comments due by November 28. Most importantly,...more

HUD releases list of 2015 QCTs and DDAs

On Friday, October 3, 2014, HUD released a notice announcing new “Qualified Census Tract” (“QCT”) and “Difficult Development Area” (“DDA”) designations for purposes of the low-income housing tax credit under Section 42 of the...more

The future of multifamily housing bonds?

Earlier this year, President Obama included within his Administration’s budget to Congress certain tax proposals. Among those was a proposal to allow states to convert up to 8 percent of their private activity bond (PAB)...more

France, Luxembourg amend tax treaty, affecting investment structures of Luxembourg vehicles holding French real estate

The French and Luxembourg governments have signed a new amendment to the French-Luxembourg tax treaty that will significantly impact the investment structures involving Luxembourg vehicles holding French real estate assets....more

HUD announces competition for new Promise Zones

Today, HUD announced the process and criteria for selecting 6 urban communities and at least 1 rural and 1 tribal community to participate in the Promise Zone initiative. The 6 urban communities will be designated by HUD, and...more

Freddie Mac closes first direct purchase of a tax-exempt loan

Freddie Mac recently closed its first direct purchase of a tax-exempt loan. The loan financed the acquisition and rehabilitation of a 417-unit senior housing community in Dayton, Ohio known as The Lakewoods. The deal...more

IRS Allocates “National Pool” Credits to Thirty-Five States and Puerto Rico

Yesterday, the IRS issued Revenue Procedure 2014-52 which provides for the reallocation of $2.59 million of unused national pool low-income housing tax credits (LIHTCs). ...more

Mortgage Holder’s Petition to Set Aside Judicial Tax Sale Rejected

A panel of the Commonwealth Court held that the trial court properly denied a mortgage holder’s petition to set aside the judicial tax sale of a property in Lackawanna County due to alleged improper service of notice and...more

Draw down bonds and date of issuance: questions remain with IRS guidance

For many years multifamily housing apartment projects could be financed with tax-exempt drawn-down bonds and loans with all of the bonds issued pursuant to a draw-down loan being treated as part of a single issue. The date of...more

Property Tax Foreclosure: Tax Authority May Have to Pay for Equity in Property

A chapter 7 trustee sought to avoid a property tax foreclosure as a fraudulent transfer and then to recover damages from the foreclosing county. The bankruptcy court agreed that the transfer was a fraudulent conveyance, but...more

Get to Know a NMTC Housing Deal

Welcome back to the latest installment of “Get to Know a NMTC Housing Deal,” where we find ourselves in Baltimore, Maryland featuring the efforts of a local and national cast of participants to rehabilitate nearly 90 acres in...more

CDFI Fund announces New Markets Tax Credit Notice of Allocation Availability

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (“CDFI Fund”) on August 5 released a Notice of Allocation Availability (“NOAA”) for its New Markets Tax Credit (“NMTC”) program in...more

Tax credit increases what’s available for historic renovation

In May, Colorado Gov. John Hickenlooper signed into law the Colorado Job Creation and Main Street Revitalization Act (also known as House Bill 14-1311). By substantially increasing the amount of funds available for the...more

Proposed House Bill would Create Appeals Process for Qualified Census Tract and Difficult Development Areas

On July 24, 2014, Rep. Pete Gallego (D-Texas) introduced legislation in the House of Representatives that would amend Section 42 of the Internal Revenue Code to provide for an appeals process for HUD Qualified Census Tract...more

Preservation of affordable housing using conventional equity

Since the introduction of the Low Income Housing Tax Credit program in 1986, the majority of commercial equity investors in affordable housing projects have been those seeking tax credits in return for their equity...more

216 Results
|
View per page
Page: of 9

Follow Finance & Banking Updates on: