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Federal Tax Aspects of Real Estate Transaction
William B. Acker Richard D. Rattner The Committee focuses on federal tax issues relating to all aspects of real property ownership, including concerning partnerships, limited liability companies and income and estate/gift taxation. The Committee typically meets two to four times per year, during the fall-winter seasons. Examples of topics discussed at meetings include valuation issues involved in family entity planning; critical analysis of real property valuation reports; use of valuation standards in limited liability company agreements; conversions of partnerships to LLCs and certain provisions of the 1997 Federal Tax Act; federal tax collection involving real property and foreclosure of taxpayer'’s tenants by the entireties ownership interest in real property; and conservation easements. The Committee is also responsible for publishing an article each year in the Michigan Real Property Review. Articles published have covered: check-the-box regulations, estate planning for owners of real property, tax deferred exchanges, deferred and prepaid rent, limited liability companies, tTax aspects of real estate partnership work outs and foreclosures, and other taxation topics. |
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