April 20, 2020
Revenue Procedure 2020-24 and International Tax Considerations
Background Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) modified section 172 by adding a new section 172(b)(1)(D)(i) which provides that net operating losses (“NOL”) arising in tax years beginning after December 31, 2017, and before January 1, 2021 may be carried back to each of the five tax years preceding the taxable year …
April 15, 2020
Recent Tax Developments Affecting Real Estate
There are a number of recent tax developments affecting the real estate sector. Below, we outline items where we’re seeing the greatest impact: Extended deadline for like-kind exchanges: If the 45-day identification period or the 180-day replacement period for like-kind exchanges ends between April 1, 2020 and July 15, 2020, those deadlines are extended to July …