Industry Leadership

FEA – The Voice of the 1031 Industry

Promoting Taxpayer friendly legislation, monitoring regulatory activity, providing commentary to the IRS, House Ways and Means Committee, and Senate Finance Committee, meeting with the Joint Committee on Taxation as well as state and federal legislators.  These are just some of the things the FEA has undertaken as The Voice of the 1031 Industry.  Our objective is to promote the preservation of IRC Section 1031 and support quality, safe, beneficial exchange transactions.

Since 1989 the FEA has:

  • Promoted ideas and innovations in the industry;
  • Established ethical standards of conduct for QIs;
  • Educated our members and the general public;
  • Provided input and guidance on relevant legislation.
The FEA Government Affairs Committee actively responds to legislative and regulatory initiatives at both the state and federal levels and advocates on behalf of the FEA and consumers.

The FEA remains committed to actively monitoring the issues affecting the exchange industry. 
With the assistance of Williams & Jensen, our Washington, D.C., tax advocate, the FEA has been able to keep pace with, and respond to, federal developments virtually as they occur. 

Additionally, the FEA monitors activities of state legislatures and regulatory agencies through the vigilance of our members. In several significant instances, the FEA provided commentary and testimony to state legislatures and regulatory agencies that shaped their approach to the licensing and regulation of exchange professionals and influenced state taxation and procedures for exchange transactions. 

The commitment and perseverance of the FEA members, the Government Affairs Committee, and our volunteer leaders have made the FEA The Voice of the 1031 Industry.

A New Landscape for Section 1031

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FEA Past President, Mary Cunningham Speaks with

Mary Cunningham joined for a video interview during REITWise 2015: NAREIT’s Law, Accounting and Finance Conference held in Phoenix. 

Cunningham noted that 1031, or like-kind exchanges,  allow an investor who sells a property and reinvests the proceeds in a new property within a  short period of time, to avoid paying taxes on gains made on the original sale. Like-kind exchanges are used extensively in the real estate sector, she said.

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How Do Tax Expenditures Affect the Argument for Repeal of Section 1031?

Earlier in February, the Joint Committee on Taxation announced that like-kind exchanges represent the second largest tax expenditure for corporations for 2014. In early January, the Senate Finance Committee listed like-kind exchanges as the third largest tax expenditure. Many people outside of Capitol Hill view this number in the abstract, but to Members of Congress, tax expenditures raise red flags when legislators are looking to raise revenue and reduce spending. With the release of this number and rank, Section 1031 is an even more attractive target for tax reform. Many lawmakers may not understand that a repeal of Section 1031 would negatively impact GDP and job growth.

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Land Investment Expo – January 2015

FEA representative Dave Brown speaks about the impact of a potential repeal of §1031 in agricultural areas.

FEA Government Affairs Committee Member Dave Brown presented and spoke at the Land Investment Expo in Des Moines, Iowa in late January 2015. Donald Trump also spoke, and commented about Section 1031. This video of his Dave Brown’s talk focuses on the issues surrounding a potential repeal of Section 1031 like-kind exchanges, particularly on the impact a repeal would have on agricultural areas in Midwestern states.


Providing Leadership with One Clear Voice

Promoting taxpayer friendly legislation. Monitoring regulatory actions. Providing commentary to the IRS, House Ways and Means Committee, Senate Finance Committee and the CFPB.  Drafting legislation and regulations.  Petitioning the FTC. Educating and building coalitions among industries that benefit from IRC §1031.

These are just a few of the ways that FEA leads the industry in setting standards and guidelines that support superior quality, safe, and beneficial exchange transactions. The collective strength of the FEA provides a clear, unified voice for the issues affecting the exchange industry and consumers.

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