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Ninth Circuit Opens the Door, IRS Slams It Shut (an update to IRS: "Shea It Ain't So!" The Ninth Circuit Opens the Door for Real Estate Developer to Defer Income Tax)
On April 7, 2017, the IRS issued Action on Decision 2017-03, confirming that the IRS would not follow the Ninth Circuit's ruling in Shea Homes, Inc. v. Commissioner, 834 F.3d 1061 (9th Cir. 2016). The Ninth Circuit's decision in Shea Homes was widely...
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Hidden Hazards: Oregon Proposes New Burdens on Charities Seeking Property Tax Exemption
Oregon has a long tradition of narrowing the scope of the property tax exemption afforded to charities operating in the state. This tradition is alive and well in 2017, as the Oregon legislature contemplates imposing an annual reporting requirement o...
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IRS: "Shea It Ain't So!" The Ninth Circuit Opens The Door For Real Estate Developers to Defer Income Tax
In a coup for real estate developers, the Ninth Circuit affirmed the U.S. Tax Court's approval of a real estate developer's strategy to defer income in Shea Homes, Inc. v. Commissioner, 834 F.3d 1061 (9th Cir. 2016). The strategy appears fairly narro...
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Portland Commissioner Saltzman Proposes New 1% Construction Excise Tax
Today Portland Commissioner Dan Saltzman, whose bureau assignments include the Portland Housing Bureau and the Bureau of Development Services, proposed a new excise tax on residential and commercial development equal to one percent of the total permi...
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Taxes, Fees on Accessory Dwelling Units (ADUs) Eased in Portland
May 18, 2016
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At a time when Portland grapples with a shortage in housing, two new regulatory changes may bring many more accessory dwelling units (ADUs)—small apartment units like basements and small backyard houses added to single-family homes—to the city, there...
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Navigating Oregon Property Tax Exemptions for Charities and Landlords--Deadline April 1
Mar 28, 2016
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It’s tax season again. Every April, most Americans begrudgingly turn their attention to their tax obligations. April’s tax significance isn’t limited to one’s federal income tax return, however, April 1 marks the deadline for filing an application fo...
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