- Bank of America, Wells Fargo & Citigroup cannot escape the City of Miami’s discriminatory lending suit, which caused a loss in city tax revenue.
- Texas federal judge sanctions the US Environmental Protection Agency for failure to turn over documents that would have killed a Clean Water Act suit brought against Thomas Lipar, a property developer, and four other Lipar companies.
- Mortgage borrowers of Citibank and JPMorgan Chase seek class certification in suit over property inspection fees.
- If appeal fails from Second Circuit judgment, Nomura Holdings & Royal Bank of Scotland Group will pay $33 million more than the $806 million damages for selling risky mortgage securities.
- A New York federal judge found that federal law did not cover many claims in class action against Citibank for “mishandling mortgage-backed securities in more than $17 billion worth of pooled loans.”
- Property owners have petitioned the U.S. Supreme Court to determine their standing in suit against several banks, including Bank of New York Mellon, HSBC, US Bank, Deutsche Bank & Wells Fargo, after the Second Circuit denied their claims that those banks did not own their mortgages.
- A class action over highly leveraged mortgage-backed securities against Goldman Sachs is dismissed for lack of evidence.
- The Securities Industry and Financial Markets Association (SIFMA) claims the Fifth Circuit incorrectly interpreted an FDIC statute, by extending the statute of limitations period, when it reinstated $2.1 billion mortgage-backed securities suit, which conflicts with Supreme Court precedent in CTS Corp. v. Waldburger.
Tag Archives: tax revenue
Friday’s Tax Roundup
- United States Tax Court holds that properties acquired in tax lien sale by an LLC are not subject to capital gains rates, but rather income tax rates, because the properties are held primarily for sale.
- Real Taxes on Virtual Currencies: What Does the IRS Say?, by Nika Antonikova, Virginia Tax Review, Vol. 34, No. 3, 2014.
- Counterintuitive Tax Revenue Effect of REIT Spinoffs, by Bradley T. Borden, Tax Notes, Vol. 146, p. 381, No. 381, January 2015; Brooklyn Law School, Legal Studies Paper, No. 402.
- United States Tax Court allows partial charitable contributions deduction.
- The House Committee on Ways and Means to markup “America’s Small Business Tax Relief Act of 2015” (H.R. 636) on February 4, 2015.
Wednesday’s Academic Roundup
- Regional House Price Segmentation and Convergence in the US: A New Approach by William Miles, Journal of Real Estate Finance and Economics, Vol. 50, No. 1, 2015.
- Impacts of Planning Rules, Regulations, Uncertainty and Delay on Residential Property Development by Arthur Grimes & Ian Mitchell, Motu Working Paper No. 15-20.
- Credit Supply and the Housing Boom by Alejandro Justiniano, Giorgio E. Primiceri, & Andrea Tamalotti, NBER Working Paper No. w20874.
- Rethinking the Tax-Revenue Effect of REIT Taxation by Bradley T. Borden, Florida Tax Review, Vol. 17, Issue 6, 2015, Forthcoming; Brooklyn Law Review, Legal Studies Paper No. 400.
- The Politics and Economics of Metropolitan Sprawl by William A. Fischel, Zoning Rules! The Economics of Land Use Regulation. Cambridge, Mass.: Lincoln Institute of Land Policy, 2015, Forthcoming.
- Property Law Conflicts by Joseph William Singer, 54 Washburn Law Journal 139 (2014) (discussing what law applies to real property case conflicts).
