MBA, Trade Groups Ask Treasury to Delay Like Kind Exchange Deadlines

The Mortgage Bankers Association and other industry trade groups this week asked the Treasury Department and the Internal Revenue Service to delay deadlines applicable to like-kind exchanges currently underway to ensure liquidity in real estate markets during the coronavirus pandemic.

MBA, Trade Groups Ask Treasury to Delay Like Kind Exchange Deadlines

The Mortgage Bankers Association and other industry trade groups this week asked the Treasury Department and the Internal Revenue Service to delay deadlines applicable to like-kind exchanges currently underway to ensure liquidity in real estate markets during the coronavirus pandemic.

IRS Issues Clarification on Taxpayer Consent, Disclosure Requirements

The Internal Revenue Service yesterday posted a clarification on the effective date of new taxpayer consent and disclosure requirements needed to obtain and share IRS tax transcript information with investors, servicers and due diligence firms.