IRS won't reclassify Katrina hotels

The IRS has just issued Notice 2005-89, saying hotels used for the temporary housing of Hurricane Katrina evacuees won't be reclassified as other than "lodging facilities" -- a decision that has advantages for Real Estate Investment Trust owners of such properties under IRC Sec. 856.

Again, please bear with us during these difficulties with the weblog. We're able to post again this morning but there may be some further unaccustomed gaps before the problem is solved.