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In the aftermath of the Third Circuit Court of Appeals reversal of the lower Tax Court decision of the Historic Boardwalk case while industrial investments in the Federal historic tax credits continue the Historic Tax Credit industry has been waiting from promised guidance by the Internal Revenue Service (the "IRS") in the form of a Revenue Procedure.

the aftermath of the Third Circuit's decision in Historic Boardwalk Hall LLC v. Commissioner, the IRS has announced its intention to provide guidance for tax structures where developers work with investors to use Federal Historic Tax Credits to further the development of historic structures.

In response to the decline in manufacturing jobs in certain parts of the Country, the Manufacturing Communities Investment Act was introduced to the Senate.

The National Disaster Tax Relief Act of 2014 has been introduced to the Senate by a bipartisan group of senators.

Last week the "Invest in the United States Act of 2014" was introduced into the House of Representatives as H.R. 3939.

The New Jersey Economic Opportunity Act of 2013 was signed into law on September 18, 2013.

New Jersey has published its action plan for the $1.8 billion CDBG grant allocated by HUD to assist the State's Hurricane Sandy recovery efforts.

ew Jersey has received $1.82 billion allocation of Federal Sandy aid from the U.S. Department for Housing and Urban Development.

On July 29, 2013, the CDFI Fund published the Notice of Allocation Authority ("NOAA") for the calendar years 2013 and 2014 Allocation Round of the Federal New Markets Tax Credit ("NMTC") Program.

The Senate introduced a summary of the proposed Hurricane Sandy and National Relief Act of 2012.

Voting 91 to 1, Senate Democrats and Republicans joined to move for a vote this week on the Hurricane Sandy and National Relief Act of 2012.

Athletes need to be cautious about the characterization of income, especially when the income is earned in a foreign jurisdiction.

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund announced $3.5 billion in New Markets Tax Credit awards nationwide.

The U.S. Department of the Treasury announced $3.5 billion in New Markets Tax Credit awards aimed at revitalizing low-income communities.

The Historic Boardwalk Hall Case in which the Internal Revenue Service challenged the traditional structure used by tax credit investors in the syndication of Federal Historic Tax Credits came to an uncerimonial end with the denial by the United State Supreme Cout of the taxpayer's writ of certiorari to the high court.

Duane Morris partner Frank DiGiacomo was a panelist at KPMG's Malta Gaming eSummit, on November 26, 2019.

Duane Morris represented Devine Holdings LLC in a litigation arising out of Harvest Health and Recreation Inc.'s potential acquisition of Arizona-issued cannabis operator licenses.