NAR LKE Coalition Letter to Senators Hatch and Wyden of the Senate Finance Committee Regarding Like-kind 1031 Law Retention
Issue Date: May 10, 2016
On May 10, 2016 NAR sent a letter to Chairman Hatch and Ranking Member Wyden of the Senate Committee on Finance. The we strongly urged the retrntion of current law regarding like-kind exchanges under section 1031 of the Internal Revenue Code (“Code”). Like-kind exchanges are integral to the efficient operation and ongoing vitality of thousands of American businesses, which in turn strengthen the U.S. economy and create jobs. Like-kind exchanges allow taxpayers to exchange their property for more productive like-kind property, to diversify or consolidate holdings, and to transition to meet changing business needs.