IRS PLR: Taxable REIT Subsidiary Election Extension Granted (IRC §856)

The IRS has published a private letter ruling on Section 856(l), granting the taxpayers a 90-day extension to file Form 8875 to jointly elect to treat Subsidiary 1 as a taxable REIT subsidiary (TRS) effective as of the relevant date. [PLR 202540002]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.