June 5, 2013
The Mortgage Interest Deduction: A Taxing Expenditure
The Congressional Budget Office has issued a report, The Distribution of Major Tax Expenditures in the Individual Income Tax System, which evaluates the mortgage interest deduction and the state and local tax deduction among other tax expenditures. It finds (consistent … Continue reading
June 5, 2013 in Federal tax matters | Permalink | No Comments
February 1, 2013
Borden and Reiss on Lawyers and REMICs
Our latest, Dirt Lawyers and Dirty REMICs, is on SSRN and BEPress.
February 1, 2013 in Federal tax matters | Permalink | No Comments
January 24, 2013
Center on Budget and Policy Priorities Report on Rental Assistance
The Center has issued a thought-provoking report, Renters’ Tax Credit Would Promote Equity and Advance Balanced Housing Policy. The summary states that Over the past several decades, the nation’s housing policy has focused predominantly on increasing homeownership. Most federal housing … Continue reading
January 24, 2013 in Federal tax matters | Permalink | No Comments
January 16, 2013
Federal Involvement in Real Estate — It’s Big!
SmartGrowth America has issued an interesting report, Federal Involvement in Real Estate: A Call for Examination, which provides a high level summary of the topic. While it does not contain any surprises, it is somewhat shocking to see the range … Continue reading
January 16, 2013 in Federal tax matters | Permalink | No Comments
December 5, 2012
Borden & Reiss: “Once a Failed REMIC, Never a REMIC”
This article analyses how courts may reach results that undercut arguments that REMICs were the owners of the mortgage notes and mortgages for tax purposes. And even if the majority of states rule in favor of REMICs, the few that … Continue reading
December 5, 2012 in Federal tax matters | Permalink | No Comments
November 26, 2012
Fleisher: “Why a Tax Crackdown Is Not Needed on Mortgage-Backed Securities”
In Why a Tax Crackdown Is Not Needed on Mortgage-Backed Securities, Professor Vic Fleisher argues that IRS enforcement of tax laws governing REMICs will merely complicate efforts to properly fix blame and allocate the costs of the financial crisis. Professor … Continue reading
November 26, 2012 in Federal tax matters | Permalink | No Comments
Borden: “Did the IRS Cause the Financial Crisis?”
In Did the IRS Cuase the Financial Crisis, Professor Brad Borden explains that competent IRS audits of REMICs would have uncovered many of the problems that led to the financial crisis. Competent audits and tax enforcement of REMICs would therefore have … Continue reading
November 26, 2012 in Federal tax matters | Permalink | No Comments
