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Internal Revenue Service › Commercial Real Estate Contracts

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
Ervin Cohen & Jessup LLP

Is a receiver’s property manager protected by the Barton Doctrine and quasi-judicial immunity

Ervin Cohen & Jessup LLP on

Q: I was appointed receiver over a manufacturing facility. I operated it for a short time and then obtained court authority to sell it. I netted $1.4 million from the sale....more

Pillsbury Winthrop Shaw Pittman LLP

Commercial Real Estate Partnership Cancellation of Debt Income

Pillsbury Winthrop Shaw Pittman LLP on

The complexities of cancellation of debt income (CODI), including bankruptcy and insolvency implications, are important to understand. When debt is cancelled or discharged, the borrowed funds become taxable income, or...more

Goulston & Storrs PC

IRS Treats Rotating Digital Display Income As Good REIT Income

Goulston & Storrs PC on

In PLR 201522002, the IRS clarified that REITs can earn good rent income from outdoor advertising displays even if multiple tenants rent the same display area for rotating ads. In the ruling, the REIT owned outdoor...more

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