Tag: taxes

IRS Releases New Form for Businesses to Claim Advance Payments

Filed in Disaster Response, Economics by on April 1, 2020 0 Comments
IRS Releases New Form for Businesses to Claim Advance Payments

Any business who will be claiming the employee retention credit, sick leave credit, and/or family medical leave credit, to the extent these credits exceed their payroll tax liabilities, can file IRS Form 7200 to get an advance on their anticipated tax refund.

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Treasury Defers Tax Payments, Waives Interest and Penalties for 90 Days

Filed in Economics by on March 17, 2020 2 Comments
Treasury Defers Tax Payments, Waives Interest and Penalties for 90 Days

Treasury Secretary Steve Mnuchin announced on March 18 that households and small businesses can defer tax payments without interest or penalties for 90 days.

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IRS Provides Clarity on LIHTC Income Limits

Filed in Economics, Multifamily by on February 11, 2020 0 Comments
IRS Provides Clarity on LIHTC Income Limits

The Internal Revenue Service recently released revenue ruling 2020-4 that instructs taxpayers how to calculate Low-Income Housing Tax Credit (LIHTC) income limits should they choose to use the income averaging minimum set-aside test to meet LIHTC eligibility and compliance requirements.

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Congress Revives Expired Tax Extenders, Makes Other Key Tax Changes

Filed in Capitol Hill, Sustainability & Green Building by on December 17, 2019 4 Comments
Congress Revives Expired Tax Extenders, Makes Other Key Tax Changes

Congress approves a package of tax changes that include a number of provisions sought by NAHB, including a series of temporary tax provisions known as “tax extenders.”

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Property Tax Bills by Congressional Districts Vary Up to $11K

Filed in Capitol Hill, Economics by on July 23, 2019 1 Comment
Property Tax Bills by Congressional Districts Vary Up to $11K

A new study released by NAHB reveals a nearly $11,000 difference in average property tax bills among the country’s most and least expensive congressional districts.

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NAHB, Real Estate Groups Urge Congress to Oppose Carried Interest Bill

Filed in Capitol Hill by on March 28, 2019 0 Comments
NAHB, Real Estate Groups Urge Congress to Oppose Carried Interest Bill

NAHB and more than a dozen other real estate industry groups have sent a joint letter to Congress urging lawmakers to reject the Carried Interest Fairness Act (H.R. 1735). The bill would result in a huge tax increase on countless Americans who use partnerships in businesses of all types and sizes.

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NAHB Opposes House and Senate Bills to Eliminate Carried Interest

Filed in Capitol Hill, Multifamily by on March 21, 2019 0 Comments
NAHB Opposes House and Senate Bills to Eliminate Carried Interest

Sen. Tammy Baldwin (D-Wis.) and Rep. Bill Pascrell (D-N.J.) last week introduced the Carried Interest Fairness Act of 2019, which would impose a major tax increase on real estate by generally requiring carried interest to be classified as ordinary income rather than a capital gain.

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More States Considering Onerous Remodeling Tax

Filed in Remodelers by on March 13, 2019 1 Comment
More States Considering Onerous Remodeling Tax

Connecticut, Texas, Illinois and Nebraska are among the states that are considering tax proposals on home repairs, renovations and labor.

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A Wide Disparity in State Property Taxes

Filed in Economics by on March 8, 2019 7 Comments
A Wide Disparity in State Property Taxes

There is nearly an $8,000 difference between what residents of the state with the highest property taxes pays compared to those who live in the state with the lowest rate. Find out where your state stands.

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House Approves 3 Tax Reform Bills; No Plans for Senate Action

Filed in Capitol Hill by on September 28, 2018 0 Comments
House Approves 3 Tax Reform Bills; No Plans for Senate Action

The House this week approved a package of three tax bills known collectively as “Tax Reform 2.0” that are intended to build on the enactment of last year’s Tax Cuts and Jobs Act. However, the Senate is not expected to act on any of the measures in this congressional session.

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