U.S. House Approves Equality Act to Extend LGBT Protections
The U.S. House of Representatives took a step on Friday that sought to stop housing discrimination based on sexual orientation. It’s a move that several housing groups, including the National Association of REALTORS®, have long advocated. The House voted 236–173 on Friday to approve the Equality Act, H.R. 5, which would prohibit discrimination on the […]
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Tax Win: IRS Provides Clear Test on How 20% Deduction Applies to Rental Income, Exchanges
The Internal Revenue Service has issued final rules on the 20 percent business income deduction (Sec. 199A of the Tax Code) that was enacted in late 2017 as part of the Tax Cuts and Jobs Act.on the 20 percent business income deduction (Sec. 199A of the Tax Code) that was enacted in late 2017 as part […]
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NAR Helps Secure FEMA Reversal On New Flood Policies During Shutdown
In a critical win for home sales while the partial shutdown of the federal government is ongoing, the Federal Emergency Management Agency will issue and renew flood insurance policies, reversing an unexpected and controversial ruling the agency released earlier this week. “FEMA and the Administration deserve credit for hearing our concerns and acting swiftly to […]
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Congressman Cleaver Leads the Way on National Flood Insurance Program Renewal
Late last month Congress approved an extension of the National Flood Insurance Program (NFIP), a backstop for homeowners in flood prone areas. As KCRAR REALTORS® know, many Kansas City area homes require flood insurance for a mortgage. Allowing the program to lapse could cost thousands of property sales per month to be delayed or canceled. […]
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President Signs ‘Tax Cuts and Jobs Act’
On Dec. 22, 2017, President Trump signed the “Tax Cuts and Jobs Act.” The U.S. House and Senate approved the conference agreement of the “Tax Cuts and Jobs Act” earlier in the week. All individual provisions of the measure are generally effective after Dec. 31, 2017 for the 2018 tax filing year and expire on […]
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What Tax Reform Means For REALTORS® and Homeowners
Tax reform proposals swirling around Washington, D.C. right now make some sweeping changes to the tax benefits that homeowners have come to depend on. In fact, 95 percent of the current tax reform plans in Congress threaten to eliminate important tax benefits for homeowners, according to the National Association of REALTORS® (NAR). Concerns for the […]
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