REIT Taxes Would Be Curbed Under New House Proposal

Law360, New York (May 16, 2012, 6:18 PM EDT) -- A bill proposing to ax certain taxes for real estate investment trusts and further modify financial rules governing REITs hit the U.S. House of Representatives on Wednesday.

Rep. Pat Tiberi, R-Ohio, introduced the bipartisan-backed bill, which is sponsored by 15 other House members and which seeks to amend the Internal Revenue Code of 1986. Dubbed the Update and Streamline REIT Act of 2012, H.R. 5746 proposes to modify the way earnings and profits are calculated for trusts so as to avoid dual taxation on gains from...
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