1031 EXCHANGE EXPLAINED EXCHANGE MANAGER PRO ℠ PROPERTY OWNERS PROPERTY ADVISORS BLOG ABOUT US RESOURCES CONTACT (800) 237-1031 1031 Exchange189 1031 University10 Advocacy32 Case Studies5 Community8 Disaster Relief11 Escrow News6 Events52 Forward7 Improvement7 Interviews3 Newsletter17 Press Releases26 Reverse16 Rules and Regulations38 Special Member Services1 BLOG #Revolutionize1031 at FEA 2021 Brent Abrahm 09/27/21 Last week, several members of Accruit joined other industry colleagues at the annual FEA conference in Chicago to hear about the latest updates regarding tax reform and the potential impact to 1031s. Through the efforts of the 1031 Coalition, the 1031 industry was successful in ensuring capping 1031s were not part of the revenue offsets presented by the House of Representatives earlier this month. Learn more about Accruit at FEA 2021 and the 1031 Coalition today! Last week, several members of Accruit joined other industry colleagues at the annual FEA conference in Chicago to hear about the latest updates regarding tax reform and the potential impact to 1031s. Through the efforts of the 1031 Coalition, the 1031 industry was successful in ensuring capping 1031s were not part of the revenue offsets presented by the House of Representatives earlier this month. This is a positive outcome as we typically see the Senate follow the lead on tax offsets from the House. Furthermore, on the Senate floor last month, Senator Kennedy (LA) submitted an amendment during a “vote-a-rama” to retain 1031s in their current state. Per the request of Senate Finance Chairman Wyden (OR) the vote was taken as a voice-vote and received unanimous support from all Senators. This week, Brent Abrahm, Accruit President & CEO, participated in three significant virtual calls with Senators to further underscore the importance of retaining 1031s as an effective stimulus for our country. Along with other members of the 1031 Coalition, critical points were made regarding the positive impact of 1031s. A few key supporting facts were highlighted in each call; 1031 like-kind exchanges allow the country to repurpose inefficient commercial properties, 1031s actually produce a positive economic benefit, increase income taxes, and create additional jobs by stimulating our economy, and any attempts to cap the 1031 provision is equivalent to repeal. Senators Bennet (CO), Tester (MT) and Kennedy (LA) all showed wide support and understanding of our data and points of impact. The efforts are not over and work still needs to be done. Accruit will participate in additional Hill meetings in the coming weeks. We still ask that anyone who may be impacted by a change in the 1031 code, please ACT NOW and share your support. For more information about 1031 exchanges or Accruit at FEA or , contact 800-237-1031 or visit accruit.com today! Tweet Share Email Print BLOG UPDATES Subscribe to get the latest in 1031 Info PROPERTY OWNERS 1031 Exchange Work With Us PROPERTY ADVISORS Advocacy Special Member Services Your Trusted QI Footer General Menu QI SERVICES BLOG RESOURCES ABOUT US About Accruit Careers Leadership Partners & Professional Assoc. CONTACT START AN EXCHANGE FOLLOW US REGULATORY COMPLIANCE ©2021 Accruit, LLC. · 55 Madison St, Ste 625 Denver, Colorado 80206 · (800) 237-1031 · Contact Us We use cookies on this site to enhance your user experience By clicking the Accept button, you agree to us doing so. More info Accept No, thanks