NAR Update: Tax Reform and RESPA Fines
A tax reform plan by the House Ways & Means Committee would eliminate the property tax deduction, double the standard deduction, and lower tax rates. Also being considered is repeal of 1031 tax-deferred exchanges. REALTORS® expressed concerns over the changes at a meeting two weeks ago with leaders of the Ways & Means Committee. The video also looks at the penalties imposed on two real estate brokerages for marketing service agreements they entered into with a lender. The federal government says the agreements were unlawful referral-fee arrangements. Other video stories: the latest home-price trends, the importance of pets in household housing decisions, and recognition NAR has received for its energy-efficient Washington building.