Internal Revenue Service Issues Another Significant Ruling on Spinoff of Real Estate - McDermott Will & Emery

Internal Revenue Service Issues Another Significant Ruling on Spinoff of Real Estate

Overview


Caroline Ngo and Britt Haxton wrote this bylined article analyzing several favorable IRS private letter rulings for tax-free spin-offs of real estate, particularly if the spun-off company elects real estate investment trust (REIT) status for potentially substantial tax savings. “This type of transaction could be of significant relevance to a corporation owning significant real estate assets,” the authors wrote.