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Retail Tenants Get Tax Break for Construction Allowances 

For years, federal income tax law was unclear about how to treat payments that owners or landlords make to tenants for construction allowances to improve leased retail space. Last September, the Internal Revenue Service adopted final regulations on previously created

S Corporation Shareholders Benefit From Supreme Court Ruling 

The U.S. Supreme Court recently ruled in favor of taxpayers in a potential windfall decision for shareholders of S corporations. Many small companies, including real estate related ventures, elect to be treated as S corporations with the Internal Revenue Service.

IRS Guides Taxpayers on Repeal of Installment-Sales Repeal 

The Internal Revenue Service has clarified the implications of Congress' recent change of heart about repealing the installment sales method for accrual basis taxpayers. Signed in December 2000, the Installment Tax Correction Act repeals former Internal Revenue Code Section 453(a)(2),

IRS Clarifies Reverse Exchange Qualifications 

The Internal Revenue Service's recent Revenue Procedure providing a safe harbor for reverse like kind exchanges adds clarity to what has been a hazy situation. In the past, many taxpayers have been hesitant to enter into reverse exchanges due to