On August 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022 (the Act), a sweeping bill with significant tax, energy and healthcare implications...more
On April 9, 2020, the IRS issued Notice 2020-23 (the “Notice”) which expands the filing and payment deadline relief announced by the Internal Revenue Service (“IRS”) in March. The March announcement gave taxpayers until July...more
Businesses, employees, and other taxpayers are incurring new and often significant expenses as they adapt and respond to the changes brought on by the COVID-19 pandemic. Several tax provisions may help to mitigate the impact...more
On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act, or the “CARES Act” to provide nearly 2 trillion dollars in aid and relief to individuals, businesses, and other...more
Qualified Opportunity Funds -
The Opportunity Zone tax incentive program allows taxpayers that invest in a Qualified Opportunity Fund to (i) defer paying taxes on the capital gain from the sale or exchange of appreciated...more
7/11/2019
/ Capital Gains ,
Carried Interest ,
Debt Financing ,
Investment Funds ,
Investors ,
New Rules ,
Opportunity Zones ,
Proposed Regulation ,
Qualified Opportunity Funds ,
Real Estate Investments ,
Secondary Markets ,
Tax Incentives
Qualified Opportunity Zone Businesses -
BACKGROUND -
In December 2017, as part of the Tax Cuts and Jobs Act (“TCJA”), Congress established a new tax incentive program to promote investment in certain low-income...more
5/22/2019
/ Capital Gains ,
Community Development ,
Income Taxes ,
Intangible Property ,
Investment Funds ,
Investors ,
IRS ,
Leases ,
Opportunity Zones ,
Proposed Regulation ,
Qualified Opportunity Funds ,
Real Estate Development ,
Real Estate Investments ,
Safe Harbors ,
Tangible Property ,
Tax Cuts and Jobs Act ,
Tax Deferral ,
Tax Incentives ,
U.S. Treasury
In December 2017, as part of the Tax Cuts and Jobs Act (“TCJA”), Congress established a new tax incentive program to promote investment in certain low-income communities designated by the IRS as qualified opportunity zones....more
5/1/2019
/ Anti-Abuse Rule ,
Capital Gains ,
Carried Interest ,
Holding Periods ,
Opportunity Zones ,
Partnerships ,
Proposed Regulation ,
Qualified Opportunity Funds ,
Real Estate Investments ,
Reporting Requirements ,
Safe Harbors ,
Tax Cuts and Jobs Act
As discussed in our December 16, 2010 blog article, the IRS issued final regulations in 2009 under Section 6039 of the Internal Revenue Code (the “Code”) that require employers to annually furnish each employee who exercised...more
Background –
In December 2017, as part of the Tax Cuts and Jobs Act (“TCJA”), Congress established a new tax incentive program to promote investment in certain low-income communities designated by the IRS as qualified...more
11/12/2018
/ Asset Valuations ,
Capital Assets ,
Capital Gains ,
Community Development ,
Economic Development ,
Internal Revenue Code (IRC) ,
Investment Funds ,
Investors ,
IRS ,
Low Income Housing ,
New Guidance ,
Opportunity Zones ,
Partnerships ,
Proposed Regulation ,
Qualified Opportunity Funds ,
Real Estate Development ,
Real Estate Investments ,
Safe Harbors ,
Tax Cuts and Jobs Act ,
Tax Deferral ,
Tax Planning ,
U.S. Treasury
As discussed in our December 16, 2010 blog article, the IRS issued final regulations in 2009 under Section 6039 of the Internal Revenue Code (the “Code”) that require Employers to annually furnish each employee who exercised...more
On December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act (TCJA), the most extensive overhaul of the United States tax regime in over thirty years. The new tax law will have a significant impact upon...more
1/3/2018
/ Business Income ,
Business Taxes ,
Carried Interest ,
Corporate Taxes ,
Foreign Subsidiaries ,
Income Taxes ,
Investment Portfolios ,
Net Operating Losses ,
New Legislation ,
Pass-Through Entities ,
Private Equity ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Rates ,
Tax Reform ,
Trump Administration ,
Wage and Hour
With the affirmative vote in the House today, both Houses of Congress have now passed a final version of the Tax Cuts and Jobs Act, clearing the legislation for President Trump’s signature. President Trump is widely expected...more
12/21/2017
/ Business Taxes ,
Capital Expenditures ,
Carried Interest ,
Charitable Donations ,
Corporate Taxes ,
Dividends ,
Estate Tax ,
Executive Compensation ,
Foreign Affiliates ,
GAAP ,
Generation-Skipping Transfer ,
Gift Tax ,
Homeowners ,
Income Taxes ,
Interest Rates ,
International Tax Issues ,
IRS ,
Itemized Deductions ,
Local Taxes ,
Mortgage Interest ,
Net Operating Losses ,
Outbound Transactions ,
Pass-Through Entities ,
Pending Legislation ,
Personal Exemptions ,
Real Estate Market ,
Real Estate Transactions ,
Repatriation ,
Standard Deduction ,
State Taxes ,
Stocks ,
Subpart F ,
Tax Assessment ,
Tax Incentives ,
Tax Liability ,
Tax Rates ,
Tax Reform ,
Transfer Taxes ,
Trump Administration
On Friday, December 15, 2017, Congress put forth a final version of the Tax Cuts and Jobs Act, which would signify the largest piece of tax legislation in over thirty years if signed into law. Early in the morning on December...more
12/21/2017
/ Alternative Minimum Tax ,
CEOs ,
CFOs ,
Covered Employees ,
Executive Compensation ,
Pending Legislation ,
Remuneration ,
Stock Options ,
Stocks ,
Tax Deductions ,
Tax Reform ,
Trump Administration
As an update to our previous blog post entitled, Senate Stays Up Late to Approve Tax Bill, dated December 5, 2017, the Senate and the House appear to have come to an agreement on the final version of the tax bill that will be...more
On December 2, the Senate passed its version of the Tax Cuts and Jobs Act. The House of Representatives earlier approved a competing version of the Act on November 16. The Senate and House entered into conference this week to...more
Early in the morning on Saturday, December 2, 2017 (it was nearly 2 AM Eastern!), the Senate voted 51-49, drawn mostly along party lines, to pass its version of the tax reform bill described in our previous blog posts....more
Yesterday the House of Representatives voted on and passed the Tax Cuts and Jobs Act. If passed by the Senate, the Act would significantly change the current federal income tax regime in the United States. ...more
11/17/2017
/ Alternative Minimum Tax ,
Business Taxes ,
Compensation & Benefits ,
Corporate Taxes ,
Estate Tax ,
Income Taxes ,
International Tax Issues ,
Legislative Agendas ,
Pass-Through Entities ,
Proposed Legislation ,
Tax Deductions ,
Tax Rates ,
Tax Reform ,
Tax-Exempt Bonds ,
Trump Administration