KPMG report: Biden Administration’s tax plan and implications for real estate industry
Green Book is proposing significant changes to the tax system that could force a re-thinking of decisions relevant to real estate.
Green Book is proposing significant changes to the tax system
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 describes the Biden Administration’s tax proposals in connection with its proposed budget, and provides additional details with respect to these proposed tax provisions.
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.
Read a June 2021 report [PDF 272 KB] prepared by KPMG LLP: What’s News in Tax: Biden Tax Plan and Real Estate
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