Industry best practices
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Nevada Property Owners, Don’t Roll the Dice with Property Tax Appeals!
Nevada appraises real property annually. Owners are informed of the assessed property values, as determined by the Assessor’s office,1 in writing on or before December 18th. As we have discussed previously on the blog, changes in assessment value are based on market conditions and recent transaction activity. The dramatic shift in interest rates and the […]
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New Life for Opportunity Zone Legislation?
New legislation was introduced that would extend the opportunity zone program to 2028, and make other modifications to the program.
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What to Make of 2Q Commercial Real Estate Loan Data
There is almost $1.4 trillion of commercial mortgages set to mature in 2023 and 2024 and D.C. appears to finally be taking steps to address the concern for potential delinquencies (“Proposed House Bill Would Address Cancellation of Debt Income for Distressed Commercial Real Estate Owners“). S&P Global published commercial real estate loan data from the […]
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Beneficial Ownership Information Reporting
Effective January 1, 2024, many closely-held businesses in the United States will be required to report information about their beneficial owners, defined as individuals who ultimately own or control the company, to the Financial Crimes Enforcement Network (FinCEN), a bureau of the Department of the Treasury. Entities subject to BOI reporting include a corporation, limited […]
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IRS Announces Pause to Processing of New Employee Retention Claims Until 2024
Over the past couple of months, the Internal Revenue Service (IRS) has issued multiple warnings, published a generic legal advice memorandum, and even opened their 2023 “Dirty Dozen” article cautioning taxpayers of aggressive Employee Retention Credit (ERC) program schemes. On September 14, 2023, the IRS took a more drastic measure, announcing a temporary moratorium on […]
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Ransomware Surge
In an era defined by digital connectivity, the increase in ransomware attacks has cast a glaring spotlight on the relentless and ever-evolving nature of cyber threats. Ransomware attacks have permeated critical infrastructure and businesses of all sizes. Companies can face not only data loss, but potential exposure of sensitive information, as well as reputational damage. […]
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Disaster Relief for Opportunity Zone Taxpayers in the Southeast
New disaster area declarations provide relief to some opportunity zone taxpayers at a crucial time.
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Current Landscape of the Florida Documentary Stamp Tax
The Florida documentary stamp tax is an excise tax levied on certain property transfers. The documentary stamp tax triggers whenever there is a conveyance of an interest in real property to a purchaser for consideration. After a real property conveyance occurs, Florida assesses the documentary stamp tax on the document that memorialized the transfer (i.e., […]
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New York Updates Their Passthrough Entity Tax FAQ’s Ahead of Key Payment Deadline
The New York State Department of Taxation and Finance recently updated their passthrough entity tax (PTET) FAQ’s, which could have an impact on upcoming tax payments due September 15, 2023. For those up-to-speed on the New York State and New York City PTET regime, please skip down two paragraphs to get to the “new stuff.” […]
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Deadline for Qualified Opportunity Zone Reinvestment Fast Approaching
The Qualified Opportunity Zone (QOZ) program offers investors the ability to reinvest eligible gains from the sale of essentially any asset within 180 days of the recognition date. For investors who realize gains through a Schedule K-1, the QOZ investing timeline can be extended to begin on the federal tax return due date of the […]