Accessibility Statement Skip Navigation
  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing
  • Login
  • GDPR
  • Create a Free Account
Return to PRWeb homepage
  • News
  • Resources
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
  • Business & Money
      • Auto & Transportation

      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Hamburger menu
  • Cision PRWeb provides efficient communication tools to continuously engage with target audiences across multiple online channels
  • Create a Free Account
    • ALL CONTACT INFO
    • Contact Us


      11AM ET Sunday – 8PM ET Friday

  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR

Engineered Tax Services Highlights Tax Incentives - 2019 Extender Bill Includes Extension of 179D and 45L

Real Estate related tax provisions for Section 179D and Section 45L are extended through the end of 2020.


News provided by

ETS

Dec 23, 2019, 15:00 ET

Share this article

Share toX

Share this article

Share toX

"Where Engineering and Accounting Come Together"
"Where Engineering and Accounting Come Together"

WEST PALM BEACH, Fla., Dec. 23, 2019 /PRNewswire-PRWeb/ -- The real estate industry was rewarded this week with the passing of Omnibus Appropriations Bill H.R.1865 (H.R. 1865). The bill extends several real estate related tax provisions through the end of 2020, such as section 45L tax credit for construction of new energy-efficient homes and section 179D tax deduction for energy-efficient commercial building property. This bill also makes these tax incentives retroactive back to 2016.

This is excellent news for our diverse clients across the country, including property owners, investors, businesses and families, as well as engineering and architectural firm designers through top CPA partners. We work nationally to help identify and utilize these powerful tax incentives; 179D deductions and 45L energy tax credits help promote the implementation of energy-efficient and cost-saving improvements including lighting, HVAC, roof and building envelope systems said, Michael F. D'Onofrio, ETS' Managing Director."

“179D deductions and 45L energy tax credits especially help promote the implementation of energy-efficient and cost-saving improvements including lighting, HVAC, roof and building envelope systems and we have already received information on multiple projects today to review.”

Post this

There are other real estate tax benefits extended through 2020 (1) the tax exclusion for home mortgage debt forgiveness; (2) the tax deduction for mortgage insurance premiums; (3) the New Markets Tax Credit; (4) and the section 25C tax credit for energy-efficient improvements to principal residences.

Other tax provisions include the repeal of three health-related tax increases that originated in the Affordable Care Act, disaster tax relief for areas affected by the California wildfires, and retirement savings reforms. The most highlighted real estate-related tax policy developments in the Nation's Capital are:

  • Qualified improvement property technical correction. Earlier this week, Senator Pat Toomey (R-PA) unsuccessfully attempted to pass the technical correction to the cost recovery period for qualified improvement property in the Senate by modifying a pending and unrelated unanimous consent request made by Senate Democrats. There was an objection and the effort failed. Senator Toomey is the lead sponsor of a stand-alone bill, the Restoring Investment in Improvements Act (S. 803), to fix the QIP drafting error. It is co-sponsored by 60 Senators. The House companion, H.R. 1869, is co-sponsored by 297 Representatives. The bipartisan support for the QIP fix is real and I remain optimistic that the technical correction will be enacted in 2020.
  • Opportunity Zone final regulations. Yesterday afternoon, Treasury released final regulations implementing the Opportunity Zone tax incentives. The 544 pages of rules should provide our Opportunity Zone Working Group with plenty of holiday reading material. Initial reports suggest that Treasury adopted the key Roundtable recommendations made in our most recent comment letter. For example, it appears that the new rules provide greater flexibility to the investment of section 1231 gain, allow gain to be excluded when assets are sold at the Opportunity Zone business level, and liberalize the proposed restrictions on aggregating assets when measuring whether they have been substantially improved. See Tax Notes below.    
  • FIRPTA – Senate letter. Yesterday, Senators Johnny Isakson (R-GA), Robert Menendez (D-NJ), and nine other bipartisan members of the Senate Finance Committee sent the attached letter to Treasury Secretary Steven Mnuchin urging Treasury to repeal section 2 of IRS Notice 2007-55. Before the Notice, a domestically controlled REIT could sell its assets and liquidate, and the liquidation would be treated as a sale of stock not subject to FIRPTA. The Notice deviated from the longstanding tax treatment of these transactions and treats the liquidating distribution as a sale of the underlying real estate assets. In a post-PATH Act environment where foreign pension funds are exempt from FIRPTA altogether, the Notice can severely complicate the structuring of joint ventures and inbound investments. Treasury recently adopted a policy, prospectively, which provides that taxpayers are not bound by a Notice that promises regulations if the regulations are not issued within 18 months. This same principle should extend to old (and stale) Notices like 2007-55.
  • Business interest limitation final regulations. The final regulations on the new 30% limitation on the deductibility of business interest are now under review by the White House Office of Management and Budget. While not a certainty, we are optimistic that the rules will be released before the January 29 TPAC meeting in Washington.
  • SALT. Yesterday afternoon, the House voted 218-206 to pass the Restoring Tax Fairness for States and Localities Act (H.R. 5377) and temporarily repeal the $10,000 cap on the state and local tax deduction. The two-year reprieve from the SALT limit in 2020 and 2021 would be paid for with a permanent increase in the top individual tax rate from 37% to 39.6%. The bill is widely viewed as dead-on-arrival in the Senate.

About Engineered Tax Services, Inc.
Engineered Tax Services, Inc. (ETS) is a licensed engineering firm that focuses on federal, state, and local tax benefits. Founder and CEO, Julio Gonzalez, is an expert in tax reform whose strong presence is helping define our current tax laws. Under Gonzalez's guidance and true insight into how the industry is shaping, Engineered Tax Services is one of the largest, fastest-growing, and most innovative engineering, energy, and specialty tax credit services firms in the country.

Julio Gonzalez is a leader in the specialty tax community and has earned the respect of his peers due to his knowledge of optimizing. He is an in-demand speaker who appears at national industry conferences and community events. Gonzalez is a regular guest on news networks where he is brought on as an expert for tax reform and tax sophistication for wealth preservation.

SOURCE ETS

Modal title

Contact PRWeb

  • 11AM ET Sunday – 8PM ET Friday
  • Contact Us

About PRWeb

  • About PRWeb
  • Partners
  • Partnership Programs
  • Editorial Guidelines
  • Resources

Why PRWeb

  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing

Accounts

  • Create a Free Account
  • Log in
  • Contact Us

Do not sell or share my personal information:

  • Submit via [email protected] 
  • Call Privacy toll-free: 877-297-8921

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Legal
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 Cision US Inc.