News & Analysis as of September 20, 2024

Mortgages › Tax Reform

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The term "mortgage" typically refers to a mortgage loan. A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +

New York State Legislators Reintroduce Bill Proposing Tax on Mezzanine Debt and Preferred Equity Investments

Akerman LLP on 2/8/2023

In the January 2023 legislative session, New York State Senators Salazar, Brisport, Hoylman, Jackson, Myrie, and Rivera submitted a bill, S-318 which seeks to impose a mortgage tax on mezzanine debt on, and preferred equity...more

Michigan Enacts First-Time Home Buyer Income Tax Provisions

Bodman on 2/14/2022

On February 9, 2022, Michigan Governor Gretchen Whitmer signed a law amending the Michigan Income Tax Act to allow a new deduction for contributions to certain “first-time home buyer” savings accounts. ...more

Weekly IRS Roundup March 22 – March 26, 2021

McDermott Will & Emery on 3/30/2021

Presented below is our summary of significant Internal Revenue Serve (IRS) guidance and relevant tax matters for the week of March 22, 2021 – March 26, 2021... March 22, 2021: The IRS issued Notice 2021-22, providing...more

The Changes Continue | February 2021 | Issue No. 21: New York Assembly-Sponsored Legislation Proposes New Tax on Mezzanine Debt...

Cadwalader, Wickersham & Taft LLP on 3/5/2021

Assembly Bill A3139 was introduced by Assembly Member Harvey Epstein on January 22, 2021. The bill is currently in committee but, if enacted, it will amend New York’s Real Property Law and Tax Law to require the recording of...more

New York State is Considering a (New) Tax That Would Apply to Mezzanine Loans and Preferred Equity

Goulston & Storrs PC on 10/6/2020

A New York State legislative proposal (currently in committee review) would impose mortgage recording tax on mezzanine debt and preferred equity investments related to real property upon which a senior loan is being...more

The Taxpayer First Act and the Impact on Secondary Market Participants

Mayer Brown on 2/12/2020

The Taxpayer First Act (the “Act” or “TFA”) imposes new limits on the disclosure of US taxpayer tax information obtained on or after December 28, 2019. The Act is designed, among other things, to overhaul and modernize...more

Window On Washington - Vol. 2, Issue 22

Clark Hill PLC on 6/5/2018

Outlook for This Week in the Nation's Capital - Minibus Appropriations Strategy. The House and Senate are planning to move appropriations bills in small packages of two or three bills in order to avoid a significantly delayed...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 2/15/2018

Nordstrom’s doing what it can to fight the seemingly inevitable decline of many retailers in the face of online competition. The family-run company has been revamping stores, amassing e-commerce companies, and launching new...more

Summary of Tax Cuts and Jobs Act

Schwabe, Williamson & Wyatt PC on 12/29/2017

The Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law by President Donald Trump on December 22, 2017. The Act changes many provisions of the Internal Revenue Code, from individual and business provisions, to...more

Window on Washington - Vol. 1, Issue 38

Clark Hill PLC on 12/12/2017

One Shutdown Averted, Countdown Begins Again: With the government funded through December 22, House and Senate leadership are shifting their focus on how to structure a long-term spending deal that would include an increase...more

Senate Passes Tax Reform Bill

Dechert LLP on 12/6/2017

The U.S. Senate passed its version of the GOP tax reform bill, the Tax Cuts and Jobs Act (the “Senate Bill”), on Saturday, December 2, 2017. Shortly before approving the Senate Bill, the U.S. Senate adopted a Manager’s...more

Window on Washington - This Week in the Nation's Capital - April 28, 2017 Vol. 1, Issue 6

Clark Hill PLC on 5/1/2017

Budget Release: Congressional staff is suggesting that the President’s full 2018 budget should be released on May 22nd. Continuing Resolution: The House gave lawmakers one more week to agree on a spending bill to fund...more

Chairman Camp’s Tax Proposals Would Affect REITs and Real Estate

Goodwin on 3/7/2014

Chairman David Camp (R-MI) of the U.S. House Ways and Means Committee recently issued a discussion draft of a comprehensive tax reform proposal which would materially modify the taxation of REITs and real estate related...more

Legislative Proposals to Reform the GSEs

Goodwin on 11/21/2013

Two bills have emerged as dueling proposals to reform the GSEs: the Housing Finance Reform and Taxpayer Reform Act (the “Corker-Warner Bill”) in the Senate, and the Protecting American Taxpayers and Homeowners Act of 2013...more

Washington Insight - January 2013

King & Spalding on 2/5/2013

In This Issue: - President Obama Sworn in for a Second Term - 113th Congress Underway - More Fiscal Challenges in Store - Cabinet Re-Shuffle - A Game of Musical Chairs - Tax Reform and...more

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Mortgages › Tax Reform

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