Category Archives: Tax

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Opportunity Zones Update: NEW PROPOSED TREASURY REGULATIONS (PART II)

Qualified Opportunity Zone Businesses BACKGROUND In December 2017, as part of the Tax Cuts and Jobs Act (“TCJA”), Congress established a new tax incentive program to promote investment in certain low-income communities designated by the IRS as qualified opportunity zones. The tax incentives obtained by investing in a qualified opportunity fund (“QOF”) allow taxpayers to … Continue Reading

IRS Change in Application Requirements for Obtaining Employer Identification Number Could Affect Many International Investors In U.S. Real Estate

Effective May 13, 2019, the Internal Revenue Service (IRS) changed the requirements for obtaining an employer identification number (EIN). The IRS now requires that an individual with a social security number (SSN) or individual taxpayer identification number (ITIN) be named as the “responsible party” on IRS Form SS-4 (Application for Employer Identification Number), except in … Continue Reading
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