Under the Tax Cuts and Jobs Act of 2017, the new Section 163(j) generally limits a taxpayer’s deduction of any business interest expense to 30% of the taxpayer’s adjusted taxable


Continue Reading IRS Provides Procedural Relief to Real Estate Businesses with Respect to Their Interest Deduction Limitation

On Feb. 19, 2020, the IRS released Notice 2020-12 and Revenue Procedure 2020-12 (together, the “Carbon Guidance”) which provide highly anticipated clarity on the Internal Revenue Code Section 45Q credit
Continue Reading Summary of Guidance on Section 45Q Carbon Tax Credits Under 2020 Notice and Revenue Procedure

The Tax Cuts and Jobs Act included a provision increasing taxes on tax-exempt organizations. New Internal Revenue Code Section 512(a)(7) required that tax-exempt organizations include in computing unrelated business taxable
Continue Reading 2019 Tax Act Effects on Tax-Exempt Organizations; Required Section 501(c)(4) Notices

The 2017 Tax Cuts and Jobs Act provided a 100% first year write-off for many types of capital expenditures. Congressional tax writers intended this benefit to be available for leasehold
Continue Reading Retailers Not Eligible for 100% Leasehold Improvement Write-Off Due to Legislative Glitch