updated May 2020
Be sure to read The Tax Cut and Jobs Act was signed into law on December 22, 2017, and took effect on January 1, 2018. Read about the impact the Tax Cut and Jobs Act had on Sec. 1031 here.
Washington, taxes and the growing deficit are constantly in the news. You’ve also been hearing about tax reform, then specifically 1031 Exchange tax reform and ramifications from us. So as of today, this is where we are at. We need YOUR voice and we need it NOW.
Congress will be introducing tax reform bills in the next few months. Section 1031 Tax-Deferred Exchanges are directly threatened and could very well be repealed or severely limited.
We are working to ensure that a repeal or restriction of Section 1031 is NOT included in any tax reform bill that is introduced. Your assistance in this effort is needed right NOW. We have just a few months to influence this legislation to keep 1031 out of a bill. If our efforts are not successful and 1031 is included in a tax reform bill, we will then be facing an uphill battle over the next 3 years to fight the legislation. Let’s ward it off NOW.
What can you do?
• The most important thing is to clearly tell your legislators that you want to keep Section 1031. Send a letter to Congress or send ANOTHER letter to Congress if your Senators and Representatives have retired from office. Ensure your current Senators and Representative hear from you. So far over 17,700 letters have been sent! Click here to send a letter via our website www.ipx1031.com/action. It takes 30 seconds.
• Learn more about the issues on our site www.ipx1031.com/taxreform and FEA’s site www.1031taxreform.com
• If you have personal connections to your Representative or Senators, we would love to schedule an in-house meeting. Please contact us at info@www.ipx1031.com
• Share on social media and encourage your clients, referral sources, advisors, colleagues and friends to #save1031
Let’s keep the momentum strong. Working together we will make a difference.
