Amidst backlash from tax preparers, trade groups, and lawmakers related to the filing extension under the original notice, the IRS announced on Friday a new guidance – Notice 2020-18, which supersedes Notice 2020-17 released earlier this week. Because of the expansion of relief provided in this notice and the fact that Notice 2020-17 is superseded,…

As we near the end of the first year of the implementation of Tax Cuts and Jobs Act, we are actively seeing how this has impacted taxpayers. One of the many impacts from the new tax laws are the changes to the carried interest rules and their affect on real estate profession.