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You Can Do What? – Disproportionate Distributions By S Corporations
Introduction S corporations are popular among businesses because they afford shareholders the liability protection of a corporation,…
1031 Exchange Review: Trouble in Wine Country
The California Office of Tax Appeals (OTA) recently posted a nonprecedential opinion regarding a like-kind exchange under…
A Reorganization By Any Other Name Would Smell As Sweet . . . Or Maybe Not
What’s in a name? As Juliet asked Romeo, so the Court asked in the recent case of…
FinCEN Publishes Filing Extension For BOI Reporting
As the new reporting regime for Beneficial Ownership Information (BOI) pursuant to the Corporate Transparency Act (CTA)…
FinCEN Publishes “Small Entity Compliance Guide,” Proposed Filing Extension, For Small Business Beneficial Ownership Information Reporting
The new reporting regime for Beneficial Ownership Information (BOI) pursuant to the Corporate Transparency Act (CTA) draws…
Hog Buildings are Like-Kind to Cape Property? Yes, But . . . The Strange Nexus of Section 1031 and Section 1245
Internal Revenue Code Sections 1031 and 1245 have an interesting relationship. The recent Tax Court case of…
FinCEN Beneficial Ownership Reporting: For Real Estate Investors, the FinCEN Identifier May be Key
By: William F. Webster As discussed in two previous posts to this Tax Notebook Blog,[i] FinCEN has…
IRS Issues Safe Harbor Provisions for Conservation Easements With Compliance Deadline of July 24, 2023
On April 10, 2023, the IRS issued Notice 2023-30, which sets forth safe harbor deed language for…
Additional Tax Filing Extensions: Relief For Storm-Weary Californians
On February 24, 2023, the IRS issued News Release IR-2023-33 which extended the deadline for filing tax…