News & Insights: alan m blecher
Life Sciences and Biotech Firms Drawn to NYC by Tax Credits
By Alan M. Blecher | October 22, 2021
Public and private investment is contributing to the growth of the life sciences industry in New York City, bolstered by federal and state tax credits for an industry that will continue to grow for the foreseeable future.
New Rules Benefit Foreign Investors in U.S. QOFs, But There’s a Catch
By Alan M. Blecher | July 30, 2021
Foreign investors in U.S. Qualified Opportunity Funds (QOFs) may soon be able to reduce or eliminate withholding requirements. However, a short window of opportunity to apply for the waiver could discourage all but those with the most substantial gains.
Proposed Boost in Capital Gains Tax and Curtailment of 1031 ‘Like-Kind’ Exchanges Could Shift Real Estate Investment to Opportunity Zones
By Alan M. Blecher | June 4, 2021
Opportunity zones offer advantages and disadvantages but may yield greater tax savings in the long run for some investors.
Isolating Section 1231 Gains for Opportunity Zone Investing: A Taxpayer-Friendly Option
By Alan M. Blecher | April 27, 2021
Careful consideration of the final Opportunity Zone regulations provides investors with an important reminder that taxpayer-friendly final decisions were made regarding the investment of 1231 gains.
New York State Decouples from Federal Opportunity Zone Tax Provisions
By Alan M. Blecher | April 20, 2021
The recently announced New York State fiscal year 2022 budget includes legislation which “decouples” New York from the federal income tax deferral available for investments in Opportunity Zones, beginning generally as of January 1, 2021.
IRS Extends COVID-Related Relief for Qualified Opportunity Funds and Their Investors
By Alan M. Blecher | January 20, 2021
The Internal Revenue Service (IRS) has issued Notice 2021-10, which extends the COVID-related relief for Qualified Opportunity Funds (QOFs) and their investors provided in Notice 2020-39.
Planning Ahead For Partnership Audits Under the New Regime
By Alan M. Blecher | January 14, 2021
The IRS has made it clear that it is focusing on auditing partnerships in the near future. Consequently, it is critical that partners and partnerships are aware of the new centralized partnership audit regime and how it will affect them in the event of an audit.
CARES Act: Summary of Real Estate-Related Tax Provisions
By Alan M. Blecher | April 21, 2020
Our specialists examine the provisions of the CARES Act affecting the real estate industry.
Tax Alert: Key Issues Addressed in Final QOZ Treasury Regulations
By Alan M. Blecher | January 8, 2020
The Internal Revenue Service and the Treasury Department issued Final Treasury Regulations related to investing in Qualified Opportunity Zones, addressing many of the questions that have arisen since the program's inception in the Tax Cuts and Jobs Act of 2017.
The Future of Disruption
By Alan M. Blecher | Dean Boyer | November 22, 2019
Companies today are operating in an increasingly complex environment that is more dynamic and a lot less predictable due to several business disruptors.
IRS Issues New Proposed Regulations On Qualified Opportunity Funds
By Alan M. Blecher | Abe Schlisselfeld | May 29, 2019
On April 17, 2019, the IRS released a second round of proposed regulations regarding investments in Qualified Opportunity Funds (QOFs). While the Qualified Opportunity Zones provision has garnered the attention of the real estate industry (as well as outside investors and fund managers) since its introduction in 2017, the lack of available guidance had many waiting to act on this potentially groundbreaking tax incentive program.
Reflections on the first TCJA Tax Season
By Alan M. Blecher | May 29, 2019
April 15, 2019 marked the ostensible end to the first “tax season” implementing the Tax Cuts and Jobs Act of 2017 (TCJA). Alan Blecher, tax principal in our Real Estate Group, reflects on the challenges, misconceptions and unanswered questions that complicated the tax compliance process this year.
Tax Alert: IRS Issues New Proposed Regulations on Qualified Opportunity Funds
By Alan M. Blecher | Abe Schlisselfeld | April 18, 2019
The IRS has released a second round of proposed regulations regarding investments in Qualified Opportunity Funds, addressing a number of the critical issues and providing long-awaited clarity for investors seeking to take advantage of the opportunity zone tax benefits.
Tax Alert: IRS Releases Proposed Regulations on Qualified Opportunity Funds
By Alan M. Blecher | October 23, 2018
The IRS has issued proposed regulations relating to the deferral of gain under Code Section 1400Z-2, for investments in qualified opportunity funds (QOFs). Enacted late last year, the QOF provisions, while enticing, left many questions unanswered.
2018 Technical Corrections to the New Partnerships Audit Rules
By Alan M. Blecher | July 27, 2018
In late March, the President signed legislation that includes technical corrections to the new partnership audit rules that were introduced in the Bipartisan Budget Act of 2015.
Tax Reform Dilemma: Uncertainty Surrounds Business Interest Deduction
By Alan M. Blecher | January 22, 2018
Real Estate Partner Alan M. Blecher authored an article entitled “Tax Reform Dilemma: Uncertainty Surrounds Business Interest Deduction” which was featured in the Commercial Observer.
Real Estate Alert: Tax Reform Measures You Might Have Missed
By Michael Siino | Alan M. Blecher | December 10, 2017
While there are many provisions in the House and Senate tax reform bills that would affect the real estate industry, there are quite a few that are not making the headlines. Real estate business owners should take careful note of these easily overlooked changes.