Overview
Lisa Zarlenga was quoted in The Wall Street Journal and Tax Notes in articles discussing real-estate investment trusts, or REITs. The Internal Revenue Service is shutting down an apparent gap in a tax law that otherwise could have allowed companies across industries to continue spinning off their property holdings into tax-advantaged REITs. The December law was written in response to a wave of deals by retailers, hotels and others that sought the tax-beneficial status of being an REIT, but didn’t prevent spun-off companies from merging into an existing REIT.
Ms. Zarlenga, a former Treasury official and co-chair of Steptoe’s tax practice, tells The Wall Street Journal,“This should effectively shut down REIT spins.”
Read the full articles at The Wall Street Journal and Tax Notes (subscriptions required).
