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IRS Reduces Built-in Gains Tax Period for REITs to Five Years

By Amanda Wilson on Jan 18, 2017 in Congress, IRS, path act, REIT, Tax, Real estate, S Corporation, International

By:  Amanda Wilson One of the key benefits of a real estate investment trust ("REIT") is that it is effectively a pass through entity for income tax purposes.  While a REIT pays tax on its taxable income, it also receives a dividends paid deduction...

New Partnership Audit Regs Final Before Year End?

By Amanda Wilson on Feb 23, 2016 in government, IRS, path act, Tax, Partnership Tax, International

By:  Amanda Wilson At a tax conference yesterday, a Treasury official indicated that Treasury is working hard to finalize regulations before the 60-day freeze that occurs before the inauguration of a new president (Treasury will not issue final...

FIRPTA Withholding Tax Set to Increase

By Amanda Wilson on Feb 8, 2016 in path act, Real estate, Tax, Other

By:  Amanda Wilson The Foreign Investment in Real Property Tax Act (FIRPTA) subjects foreign sellers to U.S. tax when they sell their interest in real property located in the U.S., including interests in companies that predominately hold real...

Shorter Built-in Gains Period for S Corporations

By Amanda Wilson on Dec 22, 2015 in Congress, IRS, path act, Tax, Other, S Corporation, International

By:  Amanda Wilson An S corporation is a popular tax vehicle, as it allows for a single layer of tax instead of the double layer of tax imposed on regular corporations.  Instead of the S corporation paying tax, the taxable income of the S...