United States: Revel Casino Wins $400M Tax Assessment Reduction

Michael J. Viscount Jr. and Raymond M. Patella were featured in the Law360 article “Revel Casino Wins $400M Tax Assessment Reduction.” Full text can be found in the January 28, 2015, article, but a synopsis is below.

The former Revel Casino recently reached a settlement with Atlantic City that will see its 2015 property tax assessment reduced from $625 million to just $225 million.

The immediate effect for Revel is the reduction in the amount of […]

By |February 6th, 2015|

Investing In UK Commercial Real Estate

This note is addressed to investors and their advisers who are not familiar with the acquisition of commercial and mixed-use properties in the UK.

The UK commercial real estate market, especially in Prime Central London, is extremely competitive. Only those investors who have fully considered the steps in the acquisition process will have a realistic chance of their bid being successful.

Structuring and tax advice will need to have been taken in advance to avoid delay. […]

By |February 5th, 2015|

United States: IRS Outlines Procedures For Claiming 2014 Fuel Tax Credits

The IRS issued Notice 2015-3, outlining procedures for claiming the various alternative fuel and biodiesel tax credits that were reinstated retroactively for 2014. Taxpayers who claim those credits on an income tax return will use the normal procedures, while taxpayers who claim the credits on a quarterly return will generally be able to file for their entire 2014 credit amount on a single quarterly return.

The alternative fuel, alternative fuel mixture, biodiesel and biodiesel mixture […]

By |February 5th, 2015|