In a letter to the IRS sent on Aug. 4, NAREIT said the Final Regulations under Section 337(d) on Certain Transfers of Property to RICs and REITs and the Temporary Regulations under Section 752 on Liabilities Recognized as Recourse Partnership Liabilities impose undue financial burdens on taxpayers and add undue complexity to federal tax laws.
NAREIT said it believes the regulations meet the criteria outlined in an executive order issued by President Donald J. Trump in April regarding burdensome regulations.
The letter was sent in response to IRS Notice 2017-38. In the notice, the IRS asked for comments on whether a group of regulations should be rescinded or modified.
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