President Trump signed into law the One Big Beautiful Bill Act (the “Act”) on July 4, 2025 (the “Signing Date”). Among the Act’s significant tax extensions and changes to tax law are several taxpayer-favorable revisions to...more
7/17/2025
/ Capital Gains ,
Income Taxes ,
Internal Revenue Code (IRC) ,
New Legislation ,
One Big Beautiful Bill Act ,
Qualified Small Business Stock ,
Small Business ,
Tax Exemptions ,
Tax Legislation ,
Tax Planning ,
Tax Rates ,
Tax Reform ,
Trump Administration
A common structure for equity REITs, the UPREIT model allows a REIT to hold and operate its assets through a single operating partnership. This structure provides tax advantages and liquidity opportunities for property...more
3/3/2025
/ Capital Markets ,
Corporate Governance ,
Equity ,
Income Taxes ,
Internal Revenue Code (IRC) ,
Investment ,
Investors ,
IRS ,
Property Owners ,
Publicly-Traded Companies ,
Real Estate Investments ,
Real Estate Transactions ,
REIT ,
Tax Credits ,
Tax Planning
In recent years, the Securities and Exchange Commission (SEC) has increased its scrutiny of disclosure in public filings, as evidenced by an increase in the number of comments issued to public reporting companies. This trend...more
7/2/2024
/ Disclosure Requirements ,
Form 10-K ,
Form 8-K ,
GAAP ,
Initial Public Offering (IPO) ,
Real Estate Investments ,
Registration Statement ,
REIT ,
Sarbanes-Oxley ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act
On June 14, 2023, the IRS and Treasury Department released proposed regulations regarding the monetization of certain clean energy tax credits, as well as temporary regulations regarding mandatory information and registration...more
REITs have been rather quiet in the capital markets for some time now. Rising interest rates have made debt more expensive. Trading prices have reflected steep discounts to “net asset values”, or “NAVs”. But REITs, our...more
On July 28, 2022, Congress passed the CHIPS Act (CHIPS). Among other things, CHIPS adds Section 48D to the Internal Revenue Code, which provides a new advanced manufacturing investment tax credit for investments in...more
The IRS plans to audit the wealthiest corporate, partnership, and individual taxpayers to achieve some of its main objectives in 2022.
In his recent testimony before Congress, IRS Commissioner Charles P. Rettig...more
Good news came for renewable energy developers on June 29, 2021, when the IRS issued Notice 2021-41. The notice gives developers more time to finish projects and makes it easier to prove that they began construction on a...more
The rapidly growing offshore wind sector received a significant boost at the end of 2020, thanks to the creation of a new investment tax credit (“ITC”) for offshore wind projects and the issuance of an IRS notice extending...more
As the world continues to adapt to the COVID-19 pandemic, many companies are assessing their liquidity position, general balance sheets, near-term interest payments and debt maturities. One way companies with outstanding debt...more
Many plans have gone “agley” at this point. And yet, in surveying the COVID-19 pandemic from home, from what quiet corner we might secure, we all know new plans must be made. We should humbly attempt to make good ones. In...more
On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act, H.R. 748 (the “CARES Act”) was approved by Congress and signed into law by President Trump. The legislation is approximately 880 pages in length and...more
According to NAREIT, “real estate investment trusts,” or REITs, own more than $3 trillion of U.S. real estate assets. With REITs having survived (and, in some respects, thrived) under recent tax reform, that number likely...more
What is a REIT? -
A REIT refers to a “real estate investment trust,” which is an entity entitled to beneficial federal income tax treatment if it satisfies various requirements relating to its organization, its ownership,...more
The use of non-GAAP financial measures is nearly ubiquitous for U.S. public companies. According to Audit Analytics, 97% of S&P 500 companies used non-GAAP financial measures in earnings releases during 2017.
Many...more
What is an UPREIT? -
A common operating structure for publicly traded equity REITs is the umbrella partnership real estate investment trust (“UPREIT”) structure. In a typical UPREIT structure, the REIT holds substantially...more
6/12/2019
/ Deductions ,
Depreciation ,
Diversification Requirements ,
Estate Planning ,
Partnership Agreements ,
Partnership Interests ,
Real Estate Investments ,
REIT ,
Securities ,
Tax Deferral ,
Tax Matters Partner ,
UPREITS
GENERAL DESCRIPTION AND SUMMARY OF 8-K ITEMS -
What is Form 8-K? -
Form 8-K is the form on which public companies report, on a current basis, the occurrence of significant events. A reportable event is a transaction or...more
On December 22, 2017, President Trump signed the Tax Cuts and Jobs Act (the "Act") into law. Although the individual and collective impact of the Act may not be evident for some time, the Act is generally viewed by the real...more
On December 22, 2017, President Trump signed the Tax Cuts and Jobs Act (the “Act”). The Act was ostensibly promoted as a means to encourage investment and to promote growth in the U.S. economy, while reducing harmful...more
On December 20, 2017, both the House and the Senate passed H.R. 1 (the “Bill”), which President Trump is expected to sign by January 3, 2018. The Bill dramatically alters the U.S. approach to domestic and international...more
The new rules represent a complete overhaul of partnership audit, assessment, and collection procedures. Taxpayers should review and potentially amend partnership agreements before the new rules are scheduled to take effect...more
6/21/2017
/ Audits ,
Bipartisan Budget Act ,
IRS ,
Limited Liability Company (LLC) ,
Local Taxes ,
Partnerships ,
Proposed Regulation ,
Regulatory Freeze ,
TEFRA ,
Trump Administration ,
UPREITS
Last week's election, surprising many with Republican control of the political branches of the federal government, has led to significant uncertainty throughout the private and public sectors. The renewable energy industry...more
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
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