KPMG is reporting that the U.S. Treasury Department on May 28, 2021, released the “General Explanations of the Administration’s Fiscal Year 2022 Revenue Proposals”—the “Green Book.”
The Green Book is proposing significant changes to the tax system that could force a re-thinking of decisions relevant to real estate. If the tax provisions described in the Green Book are enacted into law, there could be changes affecting taxpayers involved in the real estate industry—e.g., sponsors, developers, investors, and others. In such event, it may be necessary to reconsider structuring of real estate investments, the timing and method for disposing of assets, compensation arrangements regarding investment management for real estate, along with numerous other decisions.
See the full KPMG article by clicking: Biden Administration’s tax plan and implications for real estate industry (June 4, 2021)
Posted by Anthony Tran, Associate Editor, Wealth Strategies Journal
