Earlier this week, Treasury and the IRS issued guidance to halt the use of partnership rules in the Internal Revenue Code to engage in abusive basis-shifting transactions whereby tax basis is stripped from certain assets and...more
Welcome to EO Radio Show – Your Nonprofit Legal Resource. In this podcast episode, Cynthia Rowland covers a niche topic and a special structure allowing certain nonprofits to have an outsized impact on improving their...more
2023 started California off with weather that escapes recent memory. Rain, snow, and surf seemed unrelenting for the first two weeks of January. While this spell of winter storms has brought snow to our slopes and refilled...more
1/25/2023
/ California ,
Federal Taxes ,
FEMA ,
Filing Deadlines ,
Income Taxes ,
IRS ,
Natural Disasters ,
Severe Weather ,
State Taxes ,
Tax Deductions ,
Tax Liability ,
Tax Penalties ,
Tax Relief ,
Tax Returns
The Paycheck Protection Program (PPP) is a lifeline for nonprofits and other businesses that are struggling to survive during the pandemic. Round 3, now rolling out, includes updated forgiveness and tax rules, and is...more
On August 8, 2020, the President directed the Secretary of the Treasury to authorize the deferment of certain payroll tax withholding, depositing, and payment obligations otherwise incurred on wages and compensation paid...more
9/1/2020
/ Coronavirus/COVID-19 ,
Employer Liability Issues ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
New Guidance ,
Payroll Taxes ,
Secretary of the Treasury ,
Social Security Taxes ,
Tax Deferral ,
Tax Liability ,
Tax Refunds ,
Wage and Hour ,
Withholding Tax
The Tax Cuts and Jobs Act created opportunity zones as an economic development tool to stimulate investments in distressed communities. This tool extends tax advantages to investors in qualified opportunity funds, provided...more
8/6/2020
/ Capital Gains ,
Community Development ,
Coronavirus/COVID-19 ,
Deadlines ,
Investors ,
Opportunity Zones ,
Qualified Opportunity Funds ,
Real Estate Investments ,
Relief Measures ,
Safe Harbors ,
Tax Cuts and Jobs Act ,
Tax Deferral ,
Time Extensions ,
U.S. Treasury
Updated on 3/26/20 -
In order to combat the adverse economic effects in which many individuals and businesses are experiencing as a result of the COVID-19 outbreak, the federal government and the State of California will...more
3/22/2020
/ Coronavirus/COVID-19 ,
Corporate Taxes ,
EDD ,
Filing Deadlines ,
Franchise Tax Board ,
HDHP ,
Income Taxes ,
Installment Agreements ,
IRS ,
Relief Measures ,
State of Emergency ,
State Taxes ,
Tax Debt ,
Tax Returns ,
Time Extensions ,
U.S. Treasury
A new tax incentive intended to stimulate investment in low-income communities known as opportunity zones has attracted significant attention from investors, developers, and business owners since its enactment under Section...more
5/24/2019
/ Community Development ,
Economic Development ,
Internal Revenue Code (IRC) ,
Investment Funds ,
IRS ,
Low Income Housing ,
Opportunity Zones ,
Public Comment ,
Public Notice ,
Qualified Opportunity Funds ,
Real Estate Development ,
Tax Deferral ,
Tax Incentives ,
U.S. Treasury
The new Opportunity Zone Program is a tool created to use private investments in Qualified Opportunity Funds rather than taxpayer dollars to revitalize economically distressed communities designated as Opportunity Zones....more
A new economic development tool created to stimulate investment in low-income communities known as “Opportunity Zones” has been attracting attention of investors, developers and business owners. This tool extends tax...more
12/21/2018
/ Capital Gains ,
Community Development ,
Housing Developers ,
Investment Funds ,
Investment Opportunities ,
Low Income Housing ,
Opportunity Zones ,
Qualified Opportunity Funds ,
Real Estate Development ,
Tax Cuts and Jobs Act ,
Tax Deferral ,
Tax Incentives
The Opportunity Zones Program (OZ Program) aims to infuse capital into low-income communities known as qualified opportunity zones (QOZs) by offering tax-advantaged investments benefiting electing Qualified Opportunity Fund...more
10/30/2018
/ Capital Gains ,
Community Development ,
Economic Development ,
Internal Revenue Code (IRC) ,
Investment Funds ,
IRS ,
Low Income Housing ,
New Guidance ,
Opportunity Zones ,
Proposed Regulation ,
Qualified Opportunity Funds ,
Real Estate Development ,
Real Estate Investments ,
Tax Cuts and Jobs Act ,
Tax Deferral ,
Tax Planning ,
U.S. Treasury
The Tax Cuts and Jobs Act creates a new tax incentive to stimulate economic development in certain low-income communities known as “Opportunity Zones.” This program will allow businesses and commercial projects located in...more