REIT changes in the 2008 Housing Act
Mike Habib, EA

Included in the $15.1 billion of housing tax incentives in the recently enacted “Housing Assistance Tax Act of 2008” (the Housing Act) is a package of changes liberalizing the real estate investment trust (REIT) rules. Under these new provisions:

Foreign exchange gains that a REIT generates [...]

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Tightened home sale exclusion and other revenue raisers in the 2008 Housing Act
Mike Habib, EA

To pay for the $15.1 billion of housing tax incentives in the recently enacted “Housing Assistance Tax Act of 2008” (the Housing Act), Congress passed several offsetting revenue raisers, including a requirement that banks provide information returns reporting annual credit card [...]

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