Overview -
Over the past year, several tax law changes have been proposed by the Biden administration and, in September 2021, draft legislative language was circulated, which set forth proposed changes to the Internal...more
12/1/2021
/ Biden Administration ,
Capital Gains Tax ,
Corporate Taxes ,
Foreign Derived Intangible Income (FDII) ,
Foreign Tax Credits ,
GILTI tax ,
High Net-Worth ,
Income Taxes ,
Net Investment Income ,
Pending Legislation ,
SALT ,
Share Buybacks ,
Tax Deductions ,
Tax Liability ,
Tax Planning ,
Tax Reform ,
Wash Sale Rules
In April 2021, President Biden announced the “American Families Plan,” which included some significant tax law changes. On May 28, 2021, the United State Department of Treasury issued a report entitled “General Explanation of...more
9/22/2021
/ Biden Administration ,
C-Corporation ,
Capital Gains Tax ,
Carried Interest Tax Rates ,
Corporate Taxes ,
High Net-Worth ,
Income Taxes ,
Internal Revenue Code (IRC) ,
Like Kind Exchanges ,
Proposed Legislation ,
Tax Deductions ,
Tax Planning ,
Tax Reform ,
Ways and Means Committee
On January 19, 2021, the IRS published guidance in Notice 2021-10, extending critical deadlines and rules relating to investments in qualified opportunity zones. First, any investors facing a deadline between April 1, 2020,...more
1/25/2021
/ Capital Gains ,
Community Development ,
Coronavirus/COVID-19 ,
Economic Development ,
Infectious Diseases ,
Investment Funds ,
Investors ,
Opportunity Zones ,
Qualified Opportunity Funds ,
Real Estate Development ,
Real Estate Investments ,
Real Estate Transactions ,
Safe Harbors ,
Tax Planning
INTRODUCTION -
The COVID-19 pandemic has led Governors of many states to request that their states be declared federal disaster areas. As of this writing, President Trump has declared numerous states to be federal disaster...more
3/30/2020
/ Capital Gains ,
Community Development ,
Construction Project ,
Deadlines ,
Economic Development ,
Investment ,
Investment Funds ,
Natural Disasters ,
Opportunity Zones ,
Real Estate Development ,
Real Estate Investments ,
Reinvestment Funds ,
Relief Measures
Treasury issued final Opportunity Zone Regulations on December 19, 2019 (“Final Regulations”). These Final Regulations update the first two rounds of Proposed Regulations (issued on October 29, 2018 and April 17, 2019)....more
1/31/2020
/ Capital Assets ,
Capital Gains ,
Community Development ,
Economic Development ,
Investment Funds ,
Investors ,
IRS ,
K-1 ,
New Regulations ,
Opportunity Zones ,
Qualified Opportunity Funds ,
Real Estate Development ,
Real Estate Investments ,
Regulatory Requirements ,
Retail Installment Sales Contracts ,
Safe Harbors ,
Tax Cuts and Jobs Act ,
Tax Deferral ,
Tax Planning ,
Vacant Properties
The OZ Digest is a regular update from the Polsinelli Opportunity Zones team. Our goal is to share everything opportunity zone (OZ) related from our team including firm and regulatory updates, events and thought leadership...more
6/21/2019
/ Capital Gains ,
Community Development ,
Economic Development ,
Investment Funds ,
Low Income Housing ,
Opportunity Zones ,
Qualified Opportunity Funds ,
Real Estate Development ,
Real Estate Investments ,
Tax Cuts and Jobs Act ,
Tax Deferral
In response to the Treasury’s guidance, the Polsinelli Opportunity Zone team hosted a webinar to provide commentary on the second round of Proposed Regulations. ...more
Treasury issued the long-awaited second round of Proposed Regulations yesterday (April 17, 2019), clarifying some key issues in connection with investing in and forming Qualified Opportunity Funds (“QOF”) and the OZ Fund’s...more
4/18/2019
/ Capital Gains ,
Carried Interest Tax Rates ,
Community Development ,
Economic Development ,
Investment Funds ,
Low Income Housing ,
Opportunity Zones ,
Qualified Opportunity Funds ,
Real Estate Development ,
Real Estate Investments ,
Tax Cuts and Jobs Act ,
Tax Deferral ,
Tax Planning
The OZ Digest is a monthly update from the Polsinelli Opportunity Zones team. Our goal is to share everything opportunity zone (OZ) related from our team including firm and regulatory updates, events and thought leadership...more
3/7/2019
/ Capital Gains ,
Community Development ,
Economic Development ,
Investment Funds ,
IRS ,
Low Income Housing ,
Low-Income Issues ,
Opportunity Zones ,
Public Hearing ,
Real Estate Development ,
Tax Cuts and Jobs Act ,
Tax Deferral ,
Tax Incentives
Treasury issued long-awaited Proposed Regulations and a Revenue Ruling today (October 19, 2018) regarding key issues involved with investing in and forming Qualified Opportunity Zone Funds (“OZ Fund”) and the OZ Fund’s...more
10/22/2018
/ Capital Gains ,
Community Development ,
Economic Development ,
Investment Opportunities ,
Limited Liability Company (LLC) ,
Opportunity Zones ,
Pass-Through Entities ,
Proposed Regulation ,
Regulatory Requirements ,
Tax Reform ,
U.S. Treasury
As part of the major tax reform bill passed in December, the Tax Cuts and Jobs Act of 2017, Congress created a new program to promote long-term investments in low-income areas by providing the opportunity for taxpayers to...more
5/2/2018
/ Community Development ,
Economic Development ,
Investment Funds ,
Low Income Housing ,
Low-Income Issues ,
New Market Tax Credits ,
Opportunity Zones ,
Public Finance ,
Real Estate Development ,
State and Local Government ,
Tax Cuts and Jobs Act ,
Tax Reform ,
Trump Administration
On December 22, 2017, President Trump signed into law what’s known as the Tax Cuts and Jobs Act. The Act, also sometimes referred to as H.R. 1, contains massive changes to existing tax law the likes of which have not been...more
12/28/2017
/ Alternative Minimum Tax ,
Corporate Taxes ,
Income Taxes ,
International Tax Issues ,
New Legislation ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Exemptions ,
Tax Rates ,
Tax Reform ,
Trump Administration
The Senate passed a version of the Tax Cuts and Jobs Act that differs significantly from the House-passed bill but still contains several similar proposals that lower individual and business tax rates, completely revamp the...more
12/5/2017
/ Alternative Minimum Tax ,
Business Taxes ,
Corporate Taxes ,
Income Taxes ,
International Tax Issues ,
Legislative Agendas ,
Net Operating Losses ,
Pass-Through Entities ,
Proposed Legislation ,
Tax Deductions ,
Tax Rates ,
Tax Reform ,
Trump Administration
The Senate Finance Committee Chairman’s Mark for the “Tax Cuts and Jobs Act,” released Nov. 9, describes in detail the Senate tax bill and is significantly different than the House bill, as it currently stands....more
11/14/2017
/ Alternative Minimum Tax ,
Business Taxes ,
Corporate Taxes ,
Estate Tax ,
Income Taxes ,
International Tax Issues ,
Legislative Agendas ,
Mortgage Interest ,
Pass-Through Entities ,
Proposed Legislation ,
Tax Deductions ,
Tax Rates ,
Tax Reform ,
Trump Administration
This update to our Tax Alert on Nov. 2nd describes additional key provisions in the “Tax Cuts and Jobs Act” (H.R. 1), released by the Chairman of the House Ways and Means Committee on Nov. 2nd, as well as the Chairman’s...more
11/8/2017
/ Compensation & Benefits ,
Deferred Compensation ,
Income Taxes ,
Internal Revenue Code (IRC) ,
Legislative Agendas ,
Repeal ,
Section 409A ,
Tax Code ,
Tax Planning ,
Tax Reform ,
Trump Administration
On November 2, 2017, the House Ways and Means Committee released the “Tax Cuts and Jobs Act” (H.R. 1). Key elements include reducing the tax rate on corporations to 20%, and reducing the tax rate paid on income earned by...more
11/3/2017
/ 401k ,
Alternative Minimum Tax ,
Business Taxes ,
Charitable Donations ,
Child Tax Credit ,
Contribution Limits ,
Corporate Taxes ,
Employee Benefits ,
Estate Tax ,
Income Taxes ,
Local Taxes ,
Mortgage Interest ,
Pass-Through Entities ,
Retirement Plan ,
State and Local Government ,
State Taxes ,
Tax Deductions ,
Tax Rates ,
Tax Reform ,
Trump Administration