Section 1031 is good for the American public and should be preserved in the present form
Ankeny, Iowa (PRWEB) June 27, 2014
The Federation of Exchange Accommodators (FEA) announces the launch of http://www.1031taxreform.com, a website resource aimed at educating about and advocating for the preservation of Internal Revenue Code Section 1031 Like-Kind Exchanges. Section 1031 exchanges are the target of two Congressional tax reform proposals and an Administration proposal that call for either a severe limitation or the outright repeal of §1031 exchanges.
Visitors to the http://www.1031taxreform.com website can find useful information about the debate
surrounding the repeal or limitation of §1031, including a variety of whitepapers written by the FEA, the pending House, Senate and Administration proposals, and relevant news articles. Taxpayers, voters, and advisors, along with FEA members, can contact their Congressional lawmakers through the website to advocate for the preservation of §1031 exchanges and let their representatives know how like-kind exchanges have benefited them, their clients and their businesses.
“The http://www.1031taxreform.com website will help the FEA demonstrate to lawmakers that Section 1031 is good for the American public and should be preserved in the present form,” said FEA President Bill Horan. “We want legislators to know that the strong economic benefits of §1031 like-kind exchanges extend to taxpayers of all sizes and help businesses expand here in the United States.”
“There is a lot of misinformation being used to rationalize these proposals. The FEA’s new tax reform website is an accessible resource for countering the myths and providing necessary perspective. Our goal is to assist our legislators in making fully informed decisions related to §1031,” explained FEA Board Director, Suzanne Goldstein Baker.
“The http://www.1031taxreform.com website will help not just our members, but farmers, ranchers,
equipment dealers, manufacturers, real estate investors and brokers, bankers and others inform
lawmakers that §1031 is a powerful economic engine based on sound tax policy,” commented Max Hansen, FEA Government Affairs Committee Co-Chair. “Lawmakers need constituents to tell them how important like-kind exchanges are to building their businesses, promoting growth in local economies, and preserving cash flow and net worth,” added Brent Abrahm, his fellow Co-Chair.
The FEA (http://www.1031.org) is the only national trade organization representing exchange facilitator
companies (i.e. Qualified Intermediaries or “QIs”), their primary legal/tax advisors and affiliates who are directly involved in §1031 Exchanges.