QUORUMCALL//GPT:
WARREN TAKES ON REITS
U.S. Senator Elizabeth Warren is urging the IRS to crack down on Real Estate Investment Trusts (REITs), arguing they are straining the healthcare and hotel industries and bending tax rules.
MAIN TAKEAWAY
– Warren’s criticism of REITs comes in response to a ProPublica investigation which exposed how some REITs are exploiting tax rules and forcing healthcare and hotel companies to pay high rents, adversely impacting their operations.
DETAILS
– The IRS grants REITs certain tax advantages, but in return, they must distribute 90% of their taxable income to shareholders.
– Warren alleges some REITs are evading this rule by exploiting a loophole where they treat rent payments as dividends, thus avoiding taxes and hurting industries they lease to.
WHAT’S NEXT?
– Warren is calling for a thorough IRS review of REITs and their tax practices to ensure compliance.
TOPICS COVERED
#REITs #TaxEvasion #Healthcare #Hotels
NOTE
The report is based on Sierra Sun Times, a local news source covering Mariposa and the Yosemite region, which generally maintains a neutral and fact-based reporting style.
