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Say NO to Section 1031 Tax Reform
Discussions to reform federal tax code are taking center stage. While the goal of the reform measures may be to make the tax code simpler and stimulate economic growth, the opposite will be the result.
With all recent proposals introduced, section 1031 is directly threatened. The current proposals will either completely eliminate or severely limit 1031 Exchanges. These proposals also significantly lengthen depreciation schedules for both personal property and real property assets and effectively raise the tax rate on recaptured depreciation for real estate, taxing it as ordinary income. Bottom line, the future of 1031 Exchanges or for those utilizing the power of tax deferral will be compromised.
IPX1031® has created an informational section in its website dedicated to Tax Reform to keep you informed with facts – the proposals, latest statistics and industry info, updates and FAQs. And IPX1031® provides you with a means to Say NO to Congress. Your congressional representative wants to hear from you. Send your Senators and Representative a quick email letter via IXP1031®. After entering your zip code, you will see your Senators and Representative. Customize a sample letter and hit the send button. It takes less than three minutes. Simple and fast.