ICYMI: Tax Working Group
July 30, 2024
CREFC is forming a member Working Group to evaluate, prioritize, and comment on various tax provisions and proposals being considered by Congress.
- Contact David McCarthy (dmccarthy@crefc.org) to join the working group, which will have a kickoff call later this month.
- The Working Group is open to all CREFC members, and multiple firm members may join. We encourage you to share this invite with your tax experts.
- The Working Group’s feedback will help CREFC’s Policy Committee, Forums, and Government Relations Team recommend policy positions on tax legislation.
Why it matters: Ahead of expiring provisions from the 2017 Tax Cuts and Jobs Act (TCJA), Congress is gearing up to tackle major tax legislation in 2025. While the election outcome will be important for the tax agenda, Republican and Democratic priorities could have positive and negative impacts on real estate.
Key issues for real estate may extend beyond the headline items of the corporate tax rate or individual tax provisions, and it is essential that lawmakers hear from CREFC and our members on the impact of tax policy. In the past, CREFC has weighed in on the following issues:
- 1031 Like-Kind Exchanges
- Deductibility of Business Interest
- CRE Conversion Tax Credit
- Low-Income Housing Tax Credits
- Expensing and Cost Recovery
- Partnership and Pass-through Tax Treatment
- Carried Interest Treatment
What’s next: A kickoff call is scheduled for Aug. 21 at 2:00 pm ET. Additional information and an invite will be sent to interested members.
Contact David McCarthy (dmccarthy@crefc.org) with questions.