Articles

Articles July 01, 2020 COVID-19’s Impact on the Fitness Industry

Brick-and-mortar fitness studios were growing at a robust pace until the coronavirus pandemic changed everything. With leading fitness chains facing widespread downsizing and bankruptcies, they will have to alter their business models to accommodate …

Articles June 30, 2020 TALF 2.0: Private Investment Funds as Eligible Borrowers

The Federal Reserve established the Term Asset-Backed Securities Loan Facility (TALF), known as TALF 2.0, to support the flow of credit to consumers and businesses, similar to the one previously implemented by the Federal Reserve during 2008 financia…

Articles June 25, 2020 Further Clarifications Provided for Paycheck Protection Program

Through the Paycheck Protection Program Flexibility Act and subsequent guidance, the PPP continues to evolve.

Articles June 25, 2020 IRS Addresses Tax Capital Reporting for 2020

The IRS has just addressed tax capital reporting for 2020 through the issuance of Notice 2020-43 to seek public comment on a proposed requirement for partnerships to use only one of two alternative methods to satisfy the tax capital reporting require…

Articles June 24, 2020 NYC UBT Net Operating Losses Are Not So Clear Cut

Key factors when determining the NOL utilization allowed in a given year for New York City partnerships is to look at the current-year percentage and the loss-year percentage.

Articles June 23, 2020 CARES Act -- IRS Provides Retirement Plans with Additional Guidance and Clarifications

IRS issued Notice 2020-50 extends relief to retirement plan participants whose spouses are laid off and who take COVID-19 related distributions or loans from their retirement accounts and provides new safe harbors for loan repayments.

Articles June 17, 2020 What if Your REIT Doesn’t Meet Its Distribution Requirement?

One key rule for an entity to be REIT-compliant is the distribution requirement. If the REIT fails to meet its distribution requirement it can expose the investor to significant tax risk. However, remedies are available.

Articles June 15, 2020 FAQs: Impairment Considerations in View of COVID-19

This article features a series of FAQs that may help entities stay abreast of impairment considerations when accounting and reporting in conformity with U.S. GAAP, in light of the impact of the coronavirus over the last several months.

Articles June 12, 2020 Can Short-Term be Long-Term for REIT Income Purposes?

Private Letter Ruling 202012003 discusses a fact pattern involving storage warehouses and the many nuances surrounding them and focuses on four questions of particular relevance to REITs.