Government Regulations

1031 Exchange Trends for 2016

From the 1031 Insider Newsletter, IPX Investment Property Exchange Services, Inc. January, 2016 FIRPTA – What the Change to FIRPTA Withholding Means for You Under current federal law, if a foreign person sells US real property, the buyer is obligated to withhold 10% of the gross sales price and remit this to the IRS. Pursuant to the Protecting Americans from Tax Hikes Act of 2015, however, which became law on December 18, 2015 (the “PATH Act”), the required 10% withholding will increase to 15% for all closings occurring on or after February 16, 2016. There is an exception to the …

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EPA Raises Renewable Fuel Requirements

EPA Raises Renewable Fuel Requirements Agriculture, ethanol industry welcome certainty of final rule, but say required volume is too low. After years of delays, EPA on Monday finally released the renewable fuel standards for 2014, 2015, and most importantly, 2016. The rule calls for a total of 18.11 billion gallons of renewable fuel in 2016, with targeted growth expected in categories such as: cellulosic biofuel (230 million gallons in 2016). biomass-based diesel (1.9 billion gallons in 2016 and 2 billion gallons in 2017). advanced biofuel (3.16 billion gallons in 2016). READ MORE AgWeb.com

Feds to Require Drone Registration

Feds to Require Drone Registration. The Obama administration — in a bid to start tracking personal drones and address safety concerns in advance of a holiday season when the industry projects thousands more will be sold — announced Monday it will require the registration of drone aircraft, even for “consumers and hobbyists.” The decision is meant in part to address the growing number of reported close calls and incidents that pose safety risks. Pilot sightings of drones have doubled since last year, including sightings near planes and major sporting events. Federal Aviation Administration chief Michel Huerta said registration will increase pressure …

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