As prior experience has shown, changes in the tax law can have significant implications for specific industries. Many believe that changes detrimental to the real estate industry made during the last major tax reform effort in 1986 had material ripple effects throughout the economy, contributing to the savings and loan crisis and the subsequent real estate depression of the late 1980s and early 1990s. Accordingly, the real estate industry will have a keen interest in the implications of current tax reform proposals under consideration.
Although a number of tax reform proposals have been formulated and discussed in recent years, the one that is the subject of most current discussion is referred to as the House Republican “blueprint.” The blueprint is a high level, conceptual document that was released by House Republicans last June. No statutory language has been proposed or released. This KPMG report addresses a number of issues raised by the blueprint that could be highly relevant to the real estate industry if tax reform based on the blueprint ultimately were to be enacted.
Read a January 2017 report [PDF 130 KB] prepared by KPMG LLP: What’s News in Tax: Possible Issues for Real Estate under the House Republican Blueprint
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