On October 5, 2016, the Internal Revenue Service (“IRS”) and Treasury Department published final regulations (the "Final Regulations"), temporary regulations (the "Temporary Regulations") and new proposed regulations (the...more
10/25/2016
/ Business Taxes ,
Debt Financing ,
Disguised Sales ,
IRS ,
New Regulations ,
Partnership Agreements ,
Partnership Liabilities ,
Partnerships ,
Proposed Regulation ,
Risk Allocation ,
U.S. Treasury
On October 13th, the Internal Revenue Service (“IRS”) followed through on its promise to issue final regulations and temporary regulations under Section1 385 (the “Final Regulations” and “Temporary Regulations,” respectively)...more
10/24/2016
/ Credit Agreements ,
Creditors ,
Debt Instruments ,
Debt-Equity ,
Debtor-Creditor ,
Disregarded Entities ,
Enforcement ,
Expanded Group Instruments (EGIs) ,
IRS ,
Proposed Regulation ,
Rebuttable Presumptions
IRS Issues Proposed Regs on RIC Commodity Investments -
On September 27, 2016, the IRS issued proposed regulations (the “Proposed Regulations”) providing guidance relating to the income test and asset diversification...more
10/13/2016
/ Capital Gains ,
CFCs ,
Corporate Taxes ,
Estate Tax ,
Hillary Clinton ,
Income Taxes ,
IRS ,
Marital Status ,
PFIC ,
Political Candidates ,
Presidential Elections ,
Proposed Regulation ,
Registered Investment Companies (RICs) ,
REIT ,
TEFRA ,
Trump Administration
On August 31, 2016, the Treasury Department published final regulations (the “Final Regulations”) clarifying the definition of “real property” under the real estate investment trust (“REIT”) rules. The Final Regulations...more
9/15/2016
/ Crops ,
Data Centers ,
Final Rules ,
Intangible Property ,
IRS ,
Pipelines ,
Private Letter Rulings ,
Proposed Regulation ,
REIT ,
Solar Farm ,
U.S. Treasury
On April 4th, the Internal Revenue Service (“IRS”) issued proposed regulations (the “Proposed Regulations”) under Section 385 which could dramatically change how related-party indebtedness is treated for federal income tax...more
I. OVERVIEW -
A recently released legal memorandum by the Internal Revenue Service (IRS) Office of Chief Counsel, CCA 201606027 (the “Memorandum”), concluded that a so-called “bad boy guarantee” provided by a sponsor of...more
On December 18, 2015, the President signed the Omnibus Appropriations Act (the “Act”) into law. Among the numerous changes in tax law contained in the Act are five-year extensions of the 30% investment tax credit (“ITC”),...more
On November 2, 2015, President Obama signed the Bipartisan Budget Act of 2015 (the “Bill”), which repeals the TEFRA Unified Audit Procedures and replaces them with a radically modified “corporate” model for partnership tax...more
I. Overview -
On August 6, 2015, the Internal Revenue Service (the “IRS”) and the Treasury Department announced their intention in Notice 2015-54 (the “Notice”) to issue regulations (the “Future Regulations”) under...more
8/25/2015
/ Acceleration ,
Capital Gains ,
Foreign Affiliates ,
Foreign Corporations ,
Income Taxes ,
Intangible Property ,
Internal Revenue Code (IRC) ,
IRS ,
Partnerships ,
Property Transaction Taxes ,
Reporting Requirements ,
U.S. Treasury
On August 8, 2014, the Internal Revenue Service (IRS) released Notice 2014-46 (the “Notice”), which provides some important clarifications with respect to the requirement that construction of a project commence prior to...more
On May 14, 2014, the Treasury Department published proposed regulations (the “Proposed Regulations”) clarifying the definition of “real property” under the real estate investment trust (“REIT”) rules. The issuance of the...more
On January 29, 2014, the Internal Revenue Service (“IRS”) and the Treasury Department issued proposed regulations (the “Proposed Regulations”) modifying the rules under Section 752 regarding the allocation of recourse and...more
On July 12, 2013, the IRS released Notice 2013-43 (the “Notice”), which sets forth a revised timeline for the implementation of the Foreign Account Tax Compliance Act (“FATCA”).
The most significant development is that...more