The Inflation Reduction Act of 2022 (the “IRA” or “Act”) added and modified several renewable energy tax provisions under the Internal Revenue Code of 1986, as amended (the “IRC”).[1] These changes provide many opportunities...more
6/16/2023
/ Energy Projects ,
Energy Tax Incentives ,
Greenhouse Gas Emissions ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
Production Tax Credit ,
Renewable Energy ,
Renewable Energy Incentives ,
Solar Energy ,
Tax Credits ,
Wind Power
The New York State Department of Taxation and Finance has issued guidance on the recently enacted New York Pass-Through Entity Tax. Technical Memorandum, “Pass-Through Entity Tax,” TSB-M-21(1)C, (1)I (N.Y.S. Dep’t of Taxation...more
On April 19, 2021, New York Governor Andrew Cuomo signed into law legislation that creates a New York Pass-Through Entity Tax, effective for tax years beginning on or after January 1, 2021. This consequential tax legislation,...more
On April 30, 2020, the Internal Revenue Service (“IRS”) published Notice 2020-32, which provides that no deduction is allowed for federal income tax purposes for an expense that is otherwise deductible if the payment of the...more
The Internal Revenue Service (“IRS”) has broadened the scope of taxpayers who ordinarily would have been required to meet a filing or payment federal tax deadline between April 1, 2020 and July 15, 2020. Those taxpayers now...more
On March 27, 2020, the Federal government enacted the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) in the wake of the coronavirus (“COVID-19”) pandemic. The CARES Act, in part, provides relief to...more
3/31/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Financial Stimulus ,
Income Taxes ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business ,
Tax Relief
On December 19, 2019, the Treasury Department and Internal Revenue Service (the “IRS”) released final regulations for the opportunity zone (“OZ”) program to refine and clarify certain aspects of the first two sets of proposed...more
1/13/2020
/ Capital Gains ,
Community Development ,
Economic Development ,
Investment Funds ,
IRS ,
Opportunity Zones ,
Popular ,
Qualified Opportunity Funds ,
Real Estate Development ,
Real Estate Investments ,
Tax Cuts and Jobs Act ,
Tax Deferral
Proposed Treasury Regulations have been published that will permit many U.S. corporate borrowers to provide a lender with a greater collateral package in respect of its foreign subsidiaries without an adverse tax consequence...more
Action Item: The recently enacted PATH Act contains key tax provisions for businesses and individuals alike, including permanently expanding Section 179 of the Internal Revenue Code; extending the availability of...more