COVID-19 Impact: U.S. Real Estate Tax and Regulatory Resource Guidebook

Insights on changes in law, planning and opportunities

This guidebook is intended to help real estate investors and operators address the seismic changes in the tax law and in the wider economy to help protect their business and prepare for the future, in the wake of COVID-19.

The swiftness of this COVID-19 crisis has been matched by the U.S. federal government response, which has featured trillions in support for businesses as well as significant changes to the federal tax law. The most significant of these changes were included in the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which was signed by President Trump on March 27, 2020. The CARES Act modified provisions included in 2017’s Tax Cuts and Jobs Creation Act, themselves significant, many important aspects of which, to date, have yet to be clarified through final regulations or other guidance. Moreover, several of these changes have been made on a retroactive and elective basis, so as to permit eligible taxpayers to access refunds or credits and therefore increase their cash flow.

KPMG professionals have kept close track of these developments. In this guidebook, we outline and provide insights on relevant tax developments affecting real estate investors and operators.