Reported about 1 month ago
Senator Elizabeth Warren has urged the IRS to intensify scrutiny on Real Estate Investment Trusts (REITs), particularly in the healthcare and hospitality sectors, amid concerns that some may be violating tax regulations. This follows a letter from Senator Ron Wyden prompting the IRS to clarify existing REIT rules, particularly about taxable subsidiaries used for operating qualified properties. Warren highlighted the need for enforcement against possible tax abuses, citing Medical Properties Trust as a specific concern, even as the National Association of Real Estate Investment Trusts asserts compliance with tax laws.
Source: YAHOO