
IRS Sending Letters Related to Qualified Opportunity Funds (IR 2020-274)
The IRS has started sending letters to taxpayers “who may need to take additional actions”
Category: Industry Insight
The IRS has started sending letters to taxpayers “who may need to take additional actions”
The IRS has issued final regs to implement recent statutory changes to Code §1031 regarding
By: Tim Ibbotson The Service has emphasized “corroborating evidence” and “factually intensive documentation.” The underlying
The IRS has issued a safe harbor allowing a taxpayer to claim a deduction in
Normally, when a debt is cancelled or forgiven, Code §61(a)(11) dictates that the amount forgiven
Recapture is one of the most common objections to getting a cost segregation study. However,
The Audit Technique Guide states that accelerated depreciation is an “advantageous depreciation deduction option for
In an answer to a question posted on its website, the IRS has clarified that
A partnership conveyed a conservation easement to a charity. Under the terms of the deed
The words lessee and lessor in §1.162 and §1.263(a) (Tangible Property Regulations) are mentioned over
The IRS has issued guidance which allows a taxpayer to change its depreciation pursuant to
The IRS has launched its Bipartisan Budget Act (BBA) Centralized Partnership Audit Regime website. Under
By: Lee Shreve “How much does a cost segregation study cost?” is often the first
By: Robert Taylor, MBA If you have owned a commercial building for several years, a
You can become a Tax Hero to your current and potential real estate clients. We’re
Cost segregation can be a very effective strategy for Estate Planning Attorneys. If the grantor
One of the most misunderstood areas of real estate is the real estate professional (REP)
The IRS has released “additional final regulations” on the Sec. 199A qualified business income (QBI)
The Latest: Debt v. Equity Regulations In October 2016, the IRS issued proposed regulations on
Eligibility of PPP Loan Forgiveness Would an LLC which only held real estate and had
The Small Tax Payer Safe Harbor, along with the Routine Maintenance Safe Harbor, are two
In December 2017, the Tax Cuts and Jobs Act (TCJA) was signed into law, and
Qualified improvement property (QIP) placed into service after 2017 (i.e., regardless of the tax year
Previously, Code §461(l)(1) disallowed the deduction of “excess business losses” by non-corporate taxpayers (i.e., an
Previously, under Code §172(a), amount of NOL deduction equal to lesser of: Aggregate of NOL
Written into the Final Tangible Property Regulations (263a) are a set of Safe Harbors that
On March 27, 2020, the “CARES ACT,” a $2.2 trillion stimulus package, was signed into
Written into the Final Tangible Property Regulations (263a) are a set of Safe Harbors that
The largest re-write of the U.S. Tax Code since the 1980’s may be just what
When you’re dealing with taxes, you want to do everything exactly by the book. So,