Monthly Archives: February 2021

18 02, 2021

Final Regs Defining ‘Real Property’ for Section 1031: IRS Gets It Right With ‘State Law Plus’

2021-02-18T00:25:09+00:00February 18th, 2021|Tax Articles|

Jon Christianson and Matthew Carlson of Boutin Jones Inc., together with Louis Weller of Weller Partners, LLP, and Richard Lipton of Baker & McKenzie, LLP, were co-authors of an article that was recently published in the February 2021 issue of the Journal of Taxation titled, “Final Regs Defining ‘Real Property’ for Section 1031: IRS Gets It Right With ‘State Law Plus.’”  Continue Reading

4 02, 2021

Real Estate Owned by an Entity Can be Reassessed Due to Change in Control or Ownership

2021-02-04T23:11:54+00:00February 4th, 2021|Tax Law Tips|

February 2021

Monthly Tax Law Tip

Real estate owned by an entity can be reassessed for California property tax purposes even with no transfer of the property. A transfer of interests in the entity resulting in a change in control or a change in ownership of the entity can result in reassessment even if the entity continues to own the real estate.

4 02, 2021

Opportunity Zones: Further Extensions in the Land of Oz

2021-02-04T23:07:57+00:00February 4th, 2021|Tax Articles|

Good news from the Land of Oz: on January 19, 2021, the IRS issued Notice 2021-10, which extends the relief granted to qualified opportunity funds (“QOFs”) and their investors in previous Notice 2020-39. Notice 2021-10 (the “Notice”) extends due dates until either March 31, 2021 or June 30, 2021, in response to the continued challenges posed by the coronavirus pandemic.

The Notice Continue Reading