Tax Reform

House Democrats Seek Overhaul of Energy Tax Incentives

Filed in Advocacy, Tax Reform by on September 20, 2021 0 Comments
House Democrats Seek Overhaul of Energy Tax Incentives

The House is moving forward with its $2 trillion tax plan, which includes significant changes to energy tax incentives used for residential construction and remodeling.  Many of these proposed changes are positive, but some would diminish the utility of these credits moving forward. 

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NAHB Opposes House Democrats’ Plan for $2 Trillion in New Taxes

Filed in Advocacy, Housing Affordability, Tax Reform by on September 14, 2021 16 Comments
NAHB Opposes House Democrats’ Plan for $2 Trillion in New Taxes

NAHB is sounding the alarm to lawmakers as House Democrats within the Ways and Means Committee begin consideration of a massive overhaul of the tax code which would generate over $2 trillion in additional tax revenue over the next 10 years.

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Proposed Changes to Partnership Tax Rules Would Raise $172 Billion

Filed in Tax Reform by on September 10, 2021 2 Comments
Proposed Changes to Partnership Tax Rules Would Raise $172 Billion

Senate Finance Committee Chairman Ron Wyden (D-Ore.) released the outline of a bill that would significantly alter the tax rules for partnerships.

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Senate Finance Committee Chair Proposes Housing Bill

Filed in Advocacy, Housing Affordability, Tax Reform by on August 18, 2021 1 Comment
Senate Finance Committee Chair Proposes Housing Bill

Senate Finance Committee Chairman Ron Wyden (D-Ore.) announced today the Decent, Affordable, Safe Housing (DASH) for All Act. The legislation includes a number of tax-related proposals, which fall under Wyden’s committee jurisdiction, as well as other housing policy changes that are outside of the panel’s focus.

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Employee Retention Credit: New IRS Guidance Creates Confusion for Business Owners

Filed in Advocacy, Tax Reform by on August 13, 2021 0 Comments
Employee Retention Credit: New IRS Guidance Creates Confusion for Business Owners

The IRS last week released further guidance on the Employee Retention Credit (ERC), which includes a controversial interpretation for when the wages paid to a majority owner of the business, as well as the owner’s spouse (if applicable), are to be treated as qualifying wages.

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Democrats Take Aim at Pass-Through Deduction for Businesses

Filed in Advocacy, Tax Reform by on August 11, 2021 3 Comments
Democrats Take Aim at Pass-Through Deduction for Businesses

Senate Finance Committee Chairman Ron Wyden recently introduced a bill that would make several changes to section 199A of the tax code, which provides many owners of sole proprietorships, partnerships, S corporations, and some trusts and estates a deduction of income from a qualified trade or business.

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Real Estate Industry Unified Against White House Tax Proposals

Filed in Advocacy, Housing Affordability, Tax Reform by on May 24, 2021 4 Comments
Real Estate Industry Unified Against White House Tax Proposals

NAHB, along with the major real estate trade associations representing both the commercial and residential real estate sectors, pushed back in identical joint statements to the House Ways and Means Committee and the Senate Finance Committee on tax increases proposed as part of the Biden administration’s push on infrastructure.

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President Biden to Announce $1.5 Trillion Tax Plan

Filed in Advocacy, Housing Affordability, Tax Reform by on April 28, 2021 0 Comments
President Biden to Announce $1.5 Trillion Tax Plan

President Biden is expected to outline tonight in an address to a joint session of Congress his “American Families Plan,” which includes significant tax changes that would harm real estate. 

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Treasury, IRS Extend Federal Tax Filing Deadline Until May 17

Filed in Tax Reform by on March 17, 2021 0 Comments
Treasury, IRS Extend Federal Tax Filing Deadline Until May 17

The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021. The IRS will be providing formal guidance in the coming days.

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IRS Releases Guidance on Claiming Employee Retention Credit with PPP Loan

Filed in Economics, Tax Reform by on March 2, 2021 0 Comments
IRS Releases Guidance on Claiming Employee Retention Credit with PPP Loan

The IRS released guidance this week for taxpayers claiming the employee retention credit for tax year 2020. The IRS plans to release additional guidance in the near future for claims arising during 2021, including changes made to the employee retention credit for 2021.

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