Legislation has been reintroduced in the New York State Assembly (A.3009-B Part VV) and the Senate (S.2509-B Part SS) that, if enacted, will require (i) the recording of certain mezzanine
Continue Reading New York’s Proposed Tax on Mezzanine Debt, Preferred Equity May Have Adverse Implications for NY Lenders, Borrowers

On Jan. 7, 2021, the Department of Treasury and IRS issued final regulations (the Regulations) that provide guidance to the “carried interest” rules under Section 1061 of the Internal Revenue
Continue Reading 3-Year Holding Period Rule for ‘Carried Interests’ Addressed in IRS Final Regulations

The Coronavirus Disease 2019 (COVID-19) stimulus package signed into law by President Trump on Dec. 27 contains significant enhancements to the employee retention tax credit enacted under the CARES Act.
Continue Reading Employee Retention Tax Credit Enhanced and Extended by COVID-19 Stimulus Package

On Dec. 21, 2020, Congress passed a COVID-19 relief bill (the Consolidated Appropriations Act, 2021) including the Taxpayer Certainty and Disaster Tax Relief Act of 2020, which would provide much-anticipated
Continue Reading Taxpayer Certainty and Disaster Tax Relief Act of 2020: Spotlight on the Proposed Extensions of Certain Alternative Energy Tax Credits