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Selling real estate in a depressed market

In a depressed real estate market, sellers must be willing to offer inducements to buyers that in “normal” markets would not be contemplated. Such inducements may be viewed as leverage, in the broadest meaning of the term, i.e., giving something ...

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IRS releasing ARRA data

A recently released Treasury Department report (TDNR TG-275) includes state-by-state data on funding approved for states and communities as part of the American Recovery and Reinvestment Act of 2009. Covered funding includes earmarks for affordable housing development, the Making Work ...

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Extending the carryback period for losses

The IRS recently reminded qualifying small businesses about the importance of electing an extended carryback period for net operating losses. Generally, businesses may carry back NOLs for two years, and carry them forward for up to 20. Within the American ...

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IRS may attach Health Savings Accounts

In an interesting disclosure, the IRS has taken the position that Health Savings Accounts owned by taxpayers may be levied to satisfy outstanding IRS obligations. IRS’s chief counsel determined that because an HSA beneficiary is entitled to make a distribution ...

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A new approach for developing noise regs

Wind farm development has increased significantly in the last decade due to environmental awareness, most significantly “global warming,” and the need to satisfy increased demand for energy with non-polluting, renewable power sources. As a consequence, there has been an increased ...

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Form 941-X updated for COBRA assistance

In order to allow employers to claim the credit for temporary COBRA as premium assistance payments, the IRS recently issued an updated Form 941-X, Adjusted Employer’s Quarterly Federal Tax Return for Claim for Refund, to allow errors to be corrected ...

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