The document outlines various tax implications and penalties for failing to meet the requirements for qualification as a Real Estate Investment Trust (REIT). It discusses the consequences of failing the 75% and 95% gross income tests, asset tests, and other provisions of the tax code. It also covers penalties for failing to distribute earnings and profits, record-keeping requirements, and the excise tax on undistributed income. Additionally, it addresses the 100% penalty tax on certain payments and the tax on gains from the disposition of assets acquired from non-REIT corporations.
doj/DataSet10/EFTA01384994.pdf
{"document_type":"legal","reference_numbers":["DB-SDNY-0085775","SDNY_GM_00231959","EFTA01384994"]}