Corporate & Tax Partner Michael Wiener shared his expertise on how businesses, CFOs, and financial professionals are adapting to the evolving economic landscape and shifting tax strategies with the Los Angeles Business...more
2/21/2025
/ Business Taxes ,
Corporate Taxes ,
Disaster Aid ,
Franchises ,
Internal Revenue Code (IRC) ,
IRS ,
Property Tax ,
Tax Cuts and Jobs Act ,
Tax Liability ,
Tax Planning ,
Tax Reform
As a result of the wildfires and straight-line winds that began in Southern California on January 7, 2025, the IRS issued an extension of the 45- and 180-day deadlines for IRC §1031 exchange transactions....more
In November 2022, Measure ULA, commonly known as the "Mansion Tax," was passed into law by the City of Los Angeles voters. This tax applies to all categories of real estate, including commercial, industrial, and residential...more
As a result of the severe winter storms, flooding and mud slides that began in California on January 8, 2023, on January 10, 2023, the IRS issued an initial extension of the 45- and 180-day deadlines for IRC §1031 exchange...more
I. Introduction
F reorganizations, much like the game of Othello, can take a minute to learn but a lifetime to master. They are often a critical part of structuring the purchase and sale of S corporations. As part of an F...more
As a result of the severe winter storms, flooding and mud slides that began in California on January 8, 2023, the IRS has issued an extension of the 45- and 180-day deadlines for IRC §1031 exchange transactions. ...more
Are your shareholders leaving money on the table? Certain tax planning strategies, much like magic spells in the Wizarding World of Harry Potter, require some pre-ordained incantations in order to bring them to life. The...more
In IRS Notice 2020-75, the IRS invited the states to circumvent the $10,000 limit on the deduction of state taxes by individuals, trusts, and estates for purposes of calculating federal income tax by permitting the states to...more
In IRS Notice 2020-75, the IRS invited the states to circumvent the $10,000 limit on the deduction of state taxes by individuals, trusts, and estates for purposes of calculating federal income tax by permitting the states to...more
The much-awaited second round of coronavirus relief legislation was signed into law on December 27, 2020. This article summarizes the ways in which individuals and businesses can benefit from this relief....more
While national attention over the past week has been focused on the outcome of the presidential election, Californians have also had their eyes on the fate of a number of propositions that made their way onto the November 3...more
On June 4, 2020, the IRS issued Notice 2020-39, which provides important relief to qualified opportunity zone investors (“QOZ Investors”), qualified opportunity funds (“QOFs”) and qualified opportunity zone businesses...more
6/10/2020
/ Community Development ,
Coronavirus/COVID-19 ,
Investment Funds ,
IRS ,
Opportunity Zones ,
Popular ,
Qualified Opportunity Funds ,
Real Estate Development ,
Real Estate Investments ,
Relief Measures ,
Safe Harbors
On April 9, 2020, the IRS issued Notice 2020-23 providing sweeping tax filing and tax payment deferral until July 15, 2020. This relief includes extensions of the 45- and 180-day deadlines for IRC §1031 exchange transactions...more
This client alert summarizes recent federal tax changes that are intended to provide relief to businesses and individuals impacted by the coronavirus (“COVID-19”) epidemic, including changes effected under recent IRS...more
4/3/2020
/ CARES Act ,
Charitable Deductions ,
Coronavirus/COVID-19 ,
Employee Retention ,
Families First Coronavirus Response Act (FFCRA) ,
Internal Revenue Code (IRC) ,
Net Operating Losses ,
Payroll Taxes ,
Relief Measures ,
Retirement Plan ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Deferral ,
Tax Relief
Final regulations on opportunity zones were issued by the IRS on December 19, 2019. There are a few major changes and clarifications in the final regulations compared to the prior proposed regulations, a summary of which is...more
New proposed regulations on opportunity zones were issued in May of 2019. We are happy to provide you with this eBook, written by Greenberg Glusker Partner, Schuyler (Sky) M. Moore, which incorporates these proposed...more