On Friday August 28th the IRS issued limited guidance on the payroll tax deferral that was part of President Trump’s August 8th executive order. Under IRS Notice 2020-65 (the “Notice”), employers are not required to withhold...more
9/1/2020
/ Coronavirus/COVID-19 ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
New Guidance ,
Payroll Taxes ,
Popular ,
Social Security Taxes ,
Tax Deferral ,
Tax Liability ,
Wage and Hour ,
Withholding Tax
On April 9, 2020, the IRS issued Notice 2020-23 (the “Notice”), which updated Notices 2020-18 and 2020-20 to provide additional relief to taxpayers affected by the COVID-19 pandemic. Specifically, the Notice benefits...more
The April 15th Tax Filing Deadline is NOT extended, but certain taxpayers can defer paying 2019 income taxes due for 90 days without accruing interest or penalties.
On March 18th the IRS issued Notice 2020-17 postponing...more
On Thursday, December 19th, the U.S. Department of Treasury released the long-awaited final Opportunity Zone Treasury Regulations (the “Final Regulations”). The Final Regulations and explanatory materials that span 544 pages,...more
12/24/2019
/ Capital Gains ,
Community Development ,
Economic Development ,
Income Taxes ,
Investment Funds ,
Investors ,
IRS ,
New Regulations ,
Opportunity Zones ,
Qualified Opportunity Funds ,
Real Estate Development ,
Real Estate Investments ,
Safe Harbors ,
Tax Cuts and Jobs Act ,
Tax Deferral ,
Tax Planning ,
U.S. Treasury ,
Vacant Properties
On Wednesday April 17, 2019, the IRS issued the second round of proposed Treasury Regulations for Qualified Opportunity Zones under the Tax Code (the “New Proposed Regulations”). These regulations provide some much-needed...more
Overview -
On Wednesday August 8, 2018, the IRS issued proposed regulations under Section 199A of the Income Tax Code (the “Proposed Regulations”) governing the new 20 percent deduction from income from certain...more