2019 Legislative Tax Updates for Real Estate

2019 Legislative Tax Updates for Real Estate

08/13/2019

Our technical team has been keeping tabs on the latest updates on the Hill in regards to tax extenders and technical corrections, given how they may impact Green Building Tax Incentives (45L and 179D) and the cost recovery of Qualified Improvement Property for 2018 and beyond. We will post our updates here to keep you … Read More

BREAKING NEWS: Senate Finance Committee Launching Bipartisan Taskforces on Tax Extenders Including Green Building Tax Incentives

BREAKING NEWS: Senate Finance Committee Launching Bipartisan Taskforces on Tax Extenders Including Green Building Tax Incentives

05/16/2019

Update as of 5/23/2019: The House Ways and Means Committee is currently putting together a package to address tax extenders such as the 45L tax credit and 179D tax deduction. Currently, a markup on tax extenders is expected sometime in June. BREAKING NEWS from 5/15/2019: The Senate Finance Committee launched bipartisan taskforces to address tax … Read More

Tax Insight: Senate and House Updates on Tax Extenders for 2018-2019

Tax Insight: Senate and House Updates on Tax Extenders for 2018-2019

03/07/2019

Senate Update Last Thursday, February 28, 2019, Senate Finance Committee Chairman Chuck Grassley (R. Iowa) and Ranking Member Ron Wyden (D. Oregon) introduced bipartisan legislation to retroactively extend tax extenders for 2018 and 2019 while also providing disaster tax relief benefits to those affected by major disasters in 2018. “Congress needs to get out of … Read More

Tax Insight: Tax Extender Update from Senator Chuck Grassley

Tax Insight: Tax Extender Update from Senator Chuck Grassley

02/22/2019

On Thursday, February 14, 2019, Senate Finance Committee Chairman Chuck Grassley (R. Iowa) addressed tax policy and various provisions that KBKG and the Real Estate Roundtable have been monitoring closely. In his speech, Senator Grassley expressed his commitment to pursue tax extenders and rejection of press reports suggesting that some provisions may no longer be … Read More

Impact of the Government Shutdown on Real Estate Tax Policy

Impact of the Government Shutdown on Real Estate Tax Policy

01/18/2019

The longest government shutdown in U.S. history is creating more uncertainty for the current and future tax landscape. As the border wall standoff delays guidance necessary to properly implement tax reform, taxpayers are left wondering how to timely file their 2018 tax returns without ultimately having to amend down the road. Congress currently hasn’t been … Read More

KBKG Tax Insight: 179D Energy Efficiency Deductions Extended through 2017

04/03/2018

The 179D energy efficiency tax deduction has been extended retroactively for improvements completed by the end of 2017. This financial incentive is geared towards: 1) building owners (commercial or multifamily), 2) tenants making improvements, and 3) architects, engineers, and other designers of government buildings. The tax deduction is worth up to $1.80 per square foot … Read More

45L: The Energy Efficient Home Credit – Extended through 2017

03/05/2018

Homebuilders and multi-family developers have a unique opportunity to capitalize on an energy efficient home credit that is often overlooked. Low-rise apartment developers and homebuilders are eligible for a $2,000 tax credit for each new or rehabbed energy efficient dwelling unit that is first leased or sold by the end of 2017. Taxpayers also have … Read More

KBKG Tax Insight: Can You Claim 45L Tax Credits Retroactively?

11/03/2017

Yes, 45L tax credits can be claimed retroactively if they have been missed on prior tax returns. Since 45L tax credits are triggered in the year that a dwelling unit is first leased or sold, some taxpayers incorrectly think that the tax credits need to be claimed timely on current year tax returns. In reality, … Read More

45L: The Energy Efficient Home Credit – Infographic

08/14/2017

Homebuilders and multi-family developers have a unique opportunity to capitalize on an energy efficient home credit that is often overlooked. The 45L Tax Credit offers $2,000 per qualified dwelling unit that can also be claimed retroactively if missed in prior years; however, the clock is ticking. There is a limited timeframe for claiming missed credits, … Read More

Affordable Housing Developers & Investors are Often Missing Out on $2,000 per Unit

01/29/2017

Affordable housing developers benefit from various tax credits from Low-Income Housing Tax Credits to Rehab Credits yet they still fail to claim a tax credit that is often geared towards their developments: the Section 45L Tax Credit. Section 45L is a commonly overlooked section of the tax code that rewards energy efficient dwelling units with … Read More

45L Tax Credit study 58 units apartments Texas

01/08/2016

KBKG performed a 45L Tax Credit energy analysis on a Texas residential complex and found that 12 of the 31 dwelling units sold in 2012 and 15 of the 27 dwelling units sold in 2013 provided a level of heating and cooling energy consumption that is at least 50 percent below that of a reference … Read More

45L Tax Credit study 56 units apartments Los Angeles California

07/19/2013

Summary: 56 units. Apartment complex. 12 buildings. All 56 units qualified. Results: Section 45L Tax Credits for 2011 = $112,000Details: 12 buildings, 56 units apartments located in Los Angeles, California. The apartments is a 56-unit complex comprised of 12 buildings that are each no more than 3 stories above grade. 56 dwelling units were leased … Read More

45L Tax Credit study 56 units apartments Bakersfield California

07/19/2013

Summary: 56 units. Apartment complex. All 56 units passed. Results: Section 45L Tax Credits for 2011 = $112,000Details: The apartments located in Bakersfield, California is a 56-unit residential complex comprised of 6 buildings that are each no more than 3 stories above grade. 56 dwelling units were leased to residents in 2011.The apartment property in … Read More

45L Tax Credit study 91 units apartments Panorama City California

07/18/2013

Summary: 91 units. Apartment complex Results: Section 45L Tax Credits for 2011 = $196,000.Details: The 98-unit senior apartment complex in Panorama City, California, comprised of 2 buildings that are each no more than 3 stories above grade. 98 dwelling units were leased to residents in 2011. The property is located in Climate Zone 3B as … Read More

45L Tax Credit study 81 units apartments Selma California

07/17/2013

Summary: 81 units. Apartment complex Results: Section 45L Tax Credits for 2011 = $162,000.Details: The apartment complex in Selma, California is an 81-unit residential complex comprised of 13 buildings that are each no more than 3 stories above grade. 81 dwelling units were leased to residents in 2011.The property is located in Climate Zone 3B … Read More

KBKG Tax Insight: Affordable Housing Developers & Investors Can Now Reap an Additional $2,000 Tax Credit for Each Unit Leased in 2017

03/08/2008

Affordable housing developers benefit from various tax credits from Low-Income Housing Tax Credits to Rehab Credits, yet they often fail to claim a tax credit that is geared towards their developments: the Section 45L Tax Credit. Section 45L is a commonly overlooked section of the tax code that was recently renewed and rewards energy efficient … Read More