A message from our President & CEO, Brent Abrahm: As I have communicated over the last nine months, repeal of 1031 like-kind exchanges is a topic of discussion in Washington DC as part of overall tax reform. As co-chair of the Federation of Exchange Accommodator's (FEA’s) Government Affairs Committee, we are making great progress in one-on-one discussions with our Congressmen and women. Our arguments for retaining 1031s are solid and are being heard. Based upon 90 plus years of strong tax policy supporting the continuation of IRC § 1031, members of Congress are beginning to understand that taxing cash flow is NOT good tax policy.
Steve Chacon & Brent Abrahm to Speak at the Federation of Exchange Accommodators' Rocky Mountain Regional Meeting
With one of the largest turnouts in years, we’re pleased to announce that the 1031 LKE market is on the rebound after the recent economic crisis, especially in regards to real estate exchanges. With no gains to defer, FEA members had been reporting as few as 1 or 2 transactions all year. Now, with property values on the rise, taxpayers are increasingly looking to defer gains through LKEs upon the sale of their investment and business use assets.
Accruit Senior Managing Director Steve Chacon Appointed Treasurer of Federation of Exchange Accommodators
New Appointment Reinforces Accruit Team’s Commitment and Leadership Role in Serving the 1031 Exchange MarketDenver, CO – September 13, 2013 – Accruit, LLC, the nation’s leading provider of qualified intermediary (QI) and 1031 Like-Kind Exchange (LKE) program solutions, is pleased to announce that its Senior Managing Director, Steve Chacon, has been appointed Treasurer of the Federation of Exchange Accommodators (FEA) and will serve on its Board of Directors.
The FEA, which was formed in 1989, is the LKE industry’s governing body and the only national trade association organized to represent professionals who conduct LKEs under Internal Revenue Code §1031, including QIs, their primary tax and legal counsel, and affiliated industries.
President Obama is slated to sign the Consumer Financial Protection Act of 2010 (CFPA) into law in the coming days, and the Federation of Exchange Accommodators (FEA) believes the move is an important first step toward assuring comprehensive protection for all consumers. The FEA, the trade association representing the exchange facilitator industry, says it looks forward to working with the Consumer Financial Protection Bureau to develop regulations governing exchange facilitators, also known as Qualified Intermediaries, who facilitate tax-deferred exchange transactions under Internal Revenue Code §1031. Regulations are needed especially with respect to the security of client funds.