Articles

Articles September 28, 2020 IRS Provides Welcome Clarification on Application of IRC Sec. 864(c)(8) Regarding Sales of Interests in Partnerships Engaged in a U.S. Trade or Business

A summary of the changes in the final regulations related to IRC Sec. 864(c)(8), clarifying the treatment of gain or loss on the sale of a foreign partner’s interest in a partnership that has a U.S. trade or business.

Articles September 24, 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 September 23, 2020 Understanding the Accounting Treatment when a Debtor Enters into a Loan Modification Agreement with its Financial Institution

Financial institution regulators have released guidance for financial institutions and their customers in response to the COVID-19 encouraging financial institutions to work prudently with borrowers and to describe the agencies’ interpretation of how…

Articles September 22, 2020 From Forbearance to Restructure: A Roadmap

Owners of commercial real estate have been hit hard of late with their worst case scenario: a sudden economic collapse brought on by a health crisis that has in many cases significantly curtailed their tenants’ ability to pay rent and their own abili…

Articles September 21, 2020 Going Concern for Real Estate and Hospitality Companies Under COVID-19

Guidance for going concerns for real estate, hospitality and other industries under COVID-19 including evaluation criteria, adverse conditions, required disclosures and more.

Articles September 17, 2020 The Accommodative Climate for Modifying Bank Loans

Recent guidance given to banks by regulators that has encouraged banks to work with borrowers impacted by the pandemic and consider longer-term strategies when those accommodations eventually expire.

Articles September 15, 2020 Financial Reporting for Real Estate Under COVID-19

In addition to creating a significant liquidity crunch for landlords, COVID-19 has created accounting implications and other financial reporting considerations for real estate entities—including going concerns, asset impairment, and tenant A/R.

Articles September 15, 2020 Accounting for Rent Concessions Due to COVID-19

A review of the Financial Accounting Standards Board (“FASB”) staff Q&A that addresses the accounting for rent concessions related to the effects of the COVID-19 pandemic under ASC 842 and 840.

Articles September 15, 2020 Part 1: The Real Estate Family’s Considerations for Success

The uniqueness (and the challenge) of a real estate family is that they are not just a family, but co-owners in a property portfolio and the companies that manage and maintain that portfolio. Both the family and business bonds that tie the family tog…