The Federal Taxation Committee will receive a legislative and regulatory update on Federal tax issues affecting real property and the professionals who work in the real estate industry from Evan Liddiard, NAR's Director of Federal Tax Policy. The committee will then hear from Steven Kennedy, a guest speaker from PwC, LLP, who will cover the topic of the new Opportunity Zones tax incentive and its potential effect on commercial real estate.
Following a brief question and answer session, the committee will consider whether to recommend that NAR adopt policy to support Opportunity Zones. The committee will also discuss the ongoing issue of whether the bases of capital assets including real property should be indexed for inflation, either legislatively or by regulation, and could consider a motion on whether NAR should adopt policy to support this change.
Next, Jamie Gregory, NAR’s Vice President of Legislative Affairs, will present a preview of the November election and its possible outcomes. He will be joined by Evan Liddiard to discuss what the election might mean for federal tax policy affecting real estate. Finally, the committee will discuss whether NAR needs policy changes regarding tax incentives for home ownership, given that last year's tax law made drastic changes to the tax benefits of owning a home.