Tax Notebook Blog

Gray Line

Visit the Boutin Jones Tax Notebook to learn about the latest developments and rulings in California and federal tax law.

Revenue Ruling 99-5 and Section 1031: Bob and Jon’s Excellent Adventure—Part I

Jon was the sole member of Apartment LLC, a disregarded entity for tax purposes. Apartment LLC owned…

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Rev. Proc. 2021-20: A Safe Harbor for Missed PPP Deductions

On April 22, 2021, the IRS issued Revenue Procedure 2021-20, which provides a safe harbor allowing taxpayers…

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Tax Provisions in the American Rescue Plan Act of 2021

On March 11, 2021, President Biden signed into law the American Rescue Plan Act of 2021 (“ARPA”),…

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Section 1061’s Application to Real Estate Carried Interests (or Not)

Persons interested in investing in real estate may not have the capital to purchase or develop real…

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You Can Leave California (With the Right Facts)

This post follows up on an earlier post from December 12, 2020, titled “The Long Arm of…

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Final Regs Defining ‘Real Property’ for Section 1031: IRS Gets It Right With ‘State Law Plus’

Jon Christianson and Matthew Carlson of Boutin Jones Inc., together with Louis Weller of Weller Partners, LLP,…

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Opportunity Zones: Further Extensions in the Land of Oz

Good news from the Land of Oz: on January 19, 2021, the IRS issued Notice 2021-10, which…

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IRC Sections 121 and 1031 — Gain Exclusion and Deferral Riding Tandem

Intro. The residential real property market has been active recently for rental houses and principal residences  It…

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Proposition 19 Client Alert

California voters recently approved Proposition 19, which may significantly increase property taxes when real property is transferred…

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