Press Release (ePRNews.com) - CHICAGO - Feb 15, 2017 - Under the latest Congressional Blueprint for Tax Reform, real estate investors have been targeted with a series of tax increases which will forever impact the growth of their portfolios as well as their plans to continue to invest in real estate.
Amongst the most controversial proposals for property owners is the possible elimination of Section 1031 tax deferred exchanges. These are transactions completed pursuant to an IRS approved process which allow investors to replace one investment property with another, on a tax deferred basis. In a recent study by Ernst and Young the loss of this tax deferral strategy, available continuously since 1921, would not only result in lower property values for owners, but create a dramatic slowdown in the national real estate economy.
But now a new website has been created for investors and businesses to register their opposition and to send a letter to their Congressional representatives.
“As the largest 1031 Qualified Intermediary we’ve been besieged by property owners who are genuinely concerned with some of the proposals that are currently being considered in Congress. That is why we felt the need to create a tool where investors could easily let their voices be heard” said Scott Nathanson, Executive Vice President of Investment Property Exchange Services, Inc. ” In less than 60 seconds this new website will allow investors to reach out to their representatives and express their concerns. Commercial real estate has been one of the pillars of the post-recession recovery. It will be disastrous to dissuade businesses and individuals from investing in real estate.”
For a 30 second video and a direct ability to contact your Congressional Representative, click here.