On April 4, the Internal Revenue Service issued Notice 2023-29 (the Notice), which describes certain rules the IRS intends to include in proposed regulations for qualifying for the energy communityContinue Reading IRS Issues Guidance for Developers, Investors Seeking to Qualify for Energy Community Bonus Credits Under Inflation Reduction Act
The Internal Revenue Service issued Notice 2023-17 providing guidance on the Low-Income Communities Bonus Credit Program established under Internal Revenue Code Section 48(e) including environmental justice solar and wind capacity…Continue Reading IRS Releases Guidance on the Low-Income Communities Bonus Credit Program for Solar and Wind Facilities
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) on Oct. 28 announced $5 billion in New Markets Tax Credit (NMTC) awards with the goal of…Continue Reading U.S. Treasury Announces $5 Billion Allocation of New Markets Tax Credit Awards
This GT Alert provides a high-level summary of key tax provisions of the Inflation Reduction Act, which President Biden signed into law on Aug. 16, 2022.
While the IRS has been cracking down on syndicated conservation easements for over ten years, earlier this year Chuck Rettig, the Commissioner of the IRS, announced several campaign areas upon…
Continue Reading Syndicated Conservation Easements: Under New Fire as IRS Enforcement Action Increases
The Foreign Investment in Real Property Tax Act of 1980, as amended (FIRPTA), imposes tax on gain realized on disposition by nonresident alien individuals or foreign corporations (non-U.S. persons) of…
Continue Reading Proposed Regulations for Qualified Foreign Pension Funds that are Exempt from U.S. Tax on Disposition of U.S. Real Property Interests
Greenberg Traurig’s private client/high net worth team has the experience to advise mega-lottery winners. Our attorneys have worked with individuals who have won some of the biggest lottery awards in…
Continue Reading I Won the Lottery! What Do I Do Now?