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June 12, 2023
2023-1043

Thursday, June 22 | Real estate workouts: Federal income tax considerations (1 pm ET)

Due to rising interest rates and changes in the use of real estate, certain segments of the real estate industry are experiencing distress. The tax considerations around debt workouts including modifications are complex and may lead to unexpected results for borrowers and lenders. In this webcast, we will address the US federal income tax considerations applicable to borrowers and lenders in connection with debt workouts and modifications.

The following topics will be discussed:

  • The application of the debt cancellation rules to borrowers
  • Exceptions to debt cancellation income
  • The application of tax rules to foreclosures
  • The application of the debt modification rules to lenders

Date: Thursday, June 22, 2023

Time: 1:00–2:00 p.m. ET New York; 10:00–11:00 a.m. PT Los Angeles

Registration: View archive here.

Panelists

  • Sarah Ralph, Principal, National Tax Department, Real Estate and Partnerships, Ernst & Young LLP
  • Michael Yaghmour, Principal, National Tax Department, Capital Markets, Ernst & Young LLP
  • Andrew Cohn, Senior Manager, National Tax Department, Real Estate and Partnerships, Ernst & Young LLP

CPE credit offered: up to 1.2 depending on duration. Recommended field of study: Taxes. Learning objectives: Describe the tax rules that apply to modifications of debt instruments, debt cancellation and foreclosure transactions from the perspective of the borrowers and lenders; assess the debt cancellation rules and how they apply to borrowers; identify the exceptions to debt cancellation income; recognize the rules applicable to foreclosures and the debt modification rules applicable to lenders.

This intermediate level, group internet-based course has no prerequisites or advanced preparation. Final CPE award to be based on content, polling and length of participation. See CPE FAQ for more information.

EY webcast managed and produced by Ernst & Young LLP’s Tax Technical Knowledge Services Group, Washington, DC: Lynn Fairfax | lynn.fairfax@ey.com and Barbara Kirchheimer | Barbara.Kirchheimer@ey.com

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