The U.S. Department of Treasury and the Internal Revenue Service recently issued final regulations (“the Final Regulations”) regarding certain aspects of so-called carried interest under Section 1061 of the Internal Revenue...more
2/9/2021
/ Bona Fide Purchaser ,
Capital Gains ,
Carried Interest ,
Final Rules ,
Holding Periods ,
Internal Revenue Code (IRC) ,
IRS ,
Partnerships ,
REIT ,
Related Parties ,
Tax Cuts and Jobs Act ,
U.S. Treasury
As part of the 2017 tax overhaul, provisions were put in place that allowed those holding property for rental purposes to write off up to a fifth of their rental income for tax purposes. The deduction was included in Code...more
10/18/2019
/ Business Taxes ,
Income Taxes ,
Internal Revenue Code (IRC) ,
Partnerships ,
Pass-Through Entities ,
Property Owners ,
Real Estate Brokers ,
Real Estate Investments ,
Rental Income ,
Revenue Procedures ,
S-Corporation ,
Safe Harbors ,
Sole Proprietorship ,
Tax Deductions ,
Tax Reform
On Friday, October 19, 2018, the U.S. Treasury Department issued its first tranche of qualified opportunity zone (“OZ”) proposed regulations.
Simultaneously, the IRS released Revenue Ruling 2018-29, which addresses the...more
10/25/2018
/ Capital Gains ,
Community Development ,
Economic Development ,
Internal Revenue Code (IRC) ,
IRS ,
Opportunity Zones ,
Proposed Regulation ,
Qualified Opportunity Funds ,
Real Estate Development ,
Real Estate Investments ,
U.S. Treasury
Today, October 19, 2018, the Treasury Department and the Internal Revenue Service (the “IRS”) issued proposed regulations on the qualified opportunity zone (“OZ”) tax incentive. In addition, the IRS issued Revenue Ruling...more
On January 9, 2014, the Internal Revenue Service (“IRS”) issued a revised version of previously released Rev. Proc. 2014-12, providing a safe harbor for the allocation of IRC Sec. 47 rehabilitation tax credits in tax credit...more