Tax Reform Toolkit

House Committee Approves Bill to Lift Caps on State and Local Tax Deduction

Filed in Capitol Hill, Tax Reform Toolkit by on December 11, 2019 0 Comments
House Committee Approves Bill to Lift Caps on State and Local Tax Deduction

The House Ways and Means Committee today approved the Restoring Tax Fairness for States and Localities Act, a bill to address concerns from higher-tax states regarding the state and local tax deduction limits.

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Bipartisan Senate Bill Restores Tax-Exempt Status for Developers’ Sewer and Water Contributions

Filed in Capitol Hill, Tax Reform Toolkit by on December 11, 2019 0 Comments
Bipartisan Senate Bill Restores Tax-Exempt Status for Developers’ Sewer and Water Contributions

Sens. Jeanne Shaheen (D-NH), Lisa Murkowski (R-AK) and Maggie Hassan (D-NH) introduced legislation to address an unintended consequence of the Tax Cuts and Jobs Act of 2017 that increased costs for some builders and developers.

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IRS Updates Form for Opportunity Zone Filings

Filed in Multifamily, Tax Reform Toolkit by on November 4, 2019 0 Comments
IRS Updates Form for Opportunity Zone Filings

The IRS has released a draft version of the updated Form 8996, which is required to be filed by all Qualified Opportunity Funds (QOFs). The IRS indicated earlier this year that it would further update this form, and it is likely a final version will be available prior to the end of the year.

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White House Launches Opportunity Zones Website

Filed in Multifamily, Tax Reform Toolkit by on October 1, 2019 0 Comments
White House Launches Opportunity Zones Website

The White House has announced a new website designed to serve as an information hub for the opportunity zones initiative established as part of the Tax Cuts and Jobs Act of 2017.

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What You Need to Know About IRS’ Updated Opportunity Zone Regulations

Filed in Multifamily, Tax Reform Toolkit by on May 22, 2019 1 Comment
What You Need to Know About IRS’ Updated Opportunity Zone Regulations

In April, the Treasury Department and IRS released a second set of proposed regulations related to the new opportunity zones tax incentive. NAHB has updated its resource page with a new FAQ outlining key points included in both sets of draft regulations.

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Treasury Announces New Opportunity Zone Regulations

Filed in Multifamily, Tax Reform Toolkit by on April 17, 2019 2 Comments
Treasury Announces New Opportunity Zone Regulations

The U.S. Treasury Department today issued its second set of proposed regulations related to the new opportunity zones tax incentive established as part of the Tax Cuts and Jobs Act of 2017.

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NAHB Resources Available to Help Navigate Opportunity Zones

Filed in Multifamily, Tax Reform Toolkit by on March 27, 2019 0 Comments
NAHB Resources Available to Help Navigate Opportunity Zones

Established as part of the Tax Cuts and Jobs Act of 2017, opportunity zones provide tax incentives for investors with capital gains to invest in underserved areas affected by poverty and unemployment. However, as a new tax incentive, many building industry members are still unclear on how to take advantage of this incentive. Learn more about the resources available through NAHB.

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Trump Signs Executive Order on Opportunity Zones

Filed in Codes and Regulations, Multifamily, Tax Reform Toolkit by on December 14, 2018 1 Comment
Trump Signs Executive Order on Opportunity Zones

President Trump yesterday signed an executive order to spur more investment in opportunity zones, a new type of economic development incentive created by the Tax Cuts and Jobs Act of 2017.

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How Do Opportunity Zones Work?

How Do Opportunity Zones Work?

To help further clarify what opportunity zones and QOFs are, and how the associated tax benefits work, NAHB has provided answers to several of the most common questions on the subject.

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Proposed Regulations on Opportunity Zones Released

Filed in Tax Reform Toolkit by on October 19, 2018 11 Comments
Proposed Regulations on Opportunity Zones Released

The Treasury Department and IRS today released the long-awaited proposed regulations for implementing opportunity zones, a new type of economic development incentive created by the Tax Cuts and Jobs Act of 2017.

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