Update to Revenue Procedure 2016-44
Sunday, September 4, 2016

Less than a week after the IRS released Revenue Procedure 2016-44 (the “Revenue Procedure”), it has been updated!  The IRS recently (and covertly) updated Section 7 (“Date of Applicability”) of the Revenue Procedure. Following the update, the prior safe harbors established in Revenue Procedure 97-13, as modified by Notice 2014-67, can be applied to any management contract entered into before (and not materially modified after) August 18, 2017 (as opposed to February 18, 2017).

Here is a link to a prior blog post discussing the Revenue Procedure in detail.

 

 

NLR Logo

We collaborate with the world's leading lawyers to deliver news tailored for you. Sign Up to receive our free e-Newsbulletins

 

Sign Up for e-NewsBulletins