<p><em>A message from our President &amp; CEO, Brent Abrahm:&nbsp;</em> 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<strong> taxing cash flow is NOT good tax policy</strong>.</p>
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<p>In the last nine months, Accruit team members have flown out to DC on four separate trips, have held over 50 meetings and have personally donated to our industry’s PAC and to several representatives that sit on the Senate Finance Committee and House Ways &amp; Means Committee.</p>

<p><strong>Now the industry needs your support.</strong> In the attached <a href="/sites/default/files/PR%20Web%20Post.pdf" target="_blank">FEA Press Release</a>, you will note that our association has launched <a href="http://www.1031taxreform.com&quot; target="_blank">www.1031taxreform.com</a&gt;. This website is a very quick and efficient method to communicate directly with your local representatives. On the site, there is already a prepared brief letter outlining the benefits of 1031s, but feel free to modify as you see fit. I encourage you to reach out and let your representatives know <strong>repealing 1031 is NOT an option</strong>.</p>

<p>In addition, the FEA is very close to finalizing our engagement of an outside firm to prepare a comprehensive impact study on the repeal of 1031 to our economy. This study is not cheap, but we feel it is critical as we make our case that 1031s are vital to our economy. I can assure you that Accruit’s clients who enjoy this deferral related to business asset exchanges as well as real estate, will continue to be well represented in both DC and the economic impact study.</p>

<p>On July 23, I will be in DC for another round of meetings with select members as well as coordinating our second 1031 coalition roundtable. This is going to be a long battle if we do not make a significant impact today. Please take a moment to reach out to your representative on <a href="http://www.1031taxreform.com&quot; target="_blank">www.1031taxreform.com</a&gt;. <strong>This will take less than 5 minutes.</strong></p>

<p>Accruit CEO Brent Abrahm is one of Denver's People on the Move, according to the Denver Business Journal. A recent article highlights Abrahm's appointment to the Board of Directors for <a href="http://coloradosucceeds.org&quot; target="_blank">Colorado Succeeds</a>, a non-profit, non-partisan coalition of business leaders committed to improving the state's education system for workforce development and economic growth.</p>

<p>"It is critical that students are equipped with the knowledge and skills to succeed in today's rapidly changing marketplace. As Accruit continues to grow, we understand how imperative it is that Colorado’s graduating students are workforce-ready and can compete on an international level”, said Abrahm, when asked about why he accepted an appointment to the board of directors of Colorado Succeeds.</p>

<p>Brent Abrahm is CEO, Co-Founder and Director of Accruit, an Inspira Financial solution, a company that specializes in facilitating 1031 Exchanges, offering Managed Service and patented workflow technology, Exchange Manager Pro^TM.&nbsp;</p>

<p>View the <a aria-label="Denver Business Journal post" href="http://www.bizjournals.com/denver/potmsearch/detail/submission/2810861/…; title="Denver Business Journal post">Denver Business Journal pos</a>t.</p>

<p>As part of Accruit’s ongoing efforts to promote 1031 Like-Kind Exchanges (LKE), we were busy as ever at the annual Federation of Exchange Accommodators’ (FEA) annual conference, which was hosted in Denver earlier this month.</p>

<p>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.</p>

<p>The conference shed light on much of the work being conducted behind the scenes in cooperation with our lawmakers. David Franasiak, principal at Williams &amp; Jensen, the FEA’s lobbyist, provided a&nbsp;comprehensive overview of the efforts in D.C. regarding tax reform and fostering broad support for the continuance of LKEs. The FEA continues to educate the Senate Finance Committee and the House Ways and Means Committee regarding the benefits of 1031 exchanges in the face of pending tax reform.</p>

<p>Accruit continues to play an active role in the FEA, both in discussions with legislators in D.C. and locally. I am currently serving as the FEA’s Government Affairs Committee co-chair and Steve Chacon is serving as the association’s treasurer and on the executive committee. During the conference, we both took part in an FEA strategy planning session to define both long and short-term goals for the association. One goal is the establishment of a Political Action Committee to help support legislative changes.</p>

<p>This year’s conference was a great success and the 1031 LKE market is poised for continued growth. Stay tuned for further information regarding the FEA and 1031 industry news and updates.</p>

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<p>Accruit would like to wish a speedy recovery as our hearts and minds go out to all those affected by the recent storms, flooding and landslides here in Colorado.&nbsp; We hope for the best on behalf of all our clients and neighbors enduring the lasting effects of the devastation.</p>

<p>In response to the flooding to hit Colorado in recent weeks, the IRS has announced that tax relief will be provided for business and individual taxpayers in several areas affected by the severe flooding.</p>
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<p>The covered disaster area includes Adams, Boulder, Larimer and Weld counties, where taxpayers will be eligible for tax relief. More counties may be added to this list as the damage assessments of the Federal Emergency Management Agency (FEMA) continue over the next several days.</p>

<p>The offered tax relief will postpone certain tax filing and payment deadlines until December 2, 2013. The relief plan includes companies and business that previously obtained an extension until September 16, 2013, to file their 2012 returns and individuals and businesses that received a similar extension until October 15. It also includes the estimated tax payment for the third quarter of 2013, which would normally be due September 16^th.</p>

<p>The IRS applies automatic filing and payment relief to those taxpayers located in the covered disaster areas. Taxpayers who reside or have a business located outside the covered disaster area must call the disaster hotline at 866-562-5227 to request this tax relief.</p>

<p>Practitioners located in the covered disaster area who maintain records necessary to meet a filing or payment deadline for multiple taxpayers outside the disaster area may contact the IRS to identify such clients using the procedures described on the <a href="http://www.irs.gov/Tax-Professionals/Bulk-Requests-from-Practitioners-f…; target="_blank">IRS website</a>.</p>

<p>Get all the information, including instructions on how to claim a disaster loss by amending a prior-year tax return, at <a href="http://www.irs.gov&quot; target="_blank">IRS.gov</a>. The IRS encourages taxpayers and tax practitioners to monitor the Tax Relief in Disaster Situations listings at <a href="http://www.irs.gov&quot; target="_blank">IRS.gov</a> for updates.</p>

<p>Accruit has recently partnered with Amarillo-based <a href="http://www.energynet.com/index.pl&quot; target="_blank">EnergyNet</a>, the industry's premier continuous oil and gas property marketplace, as their exclusive 1031 exchange solutions provider. We're obviously excited to be working with one of the O&amp;G world's finest companies and we're looking forward to bringing the same powerful cash flow and asset management benefit to their clients that we have to hundreds of other businesses in recent years.</p>

<p>Accruit is proud of our unparalleled roster of strategic partners, and we encourage you to take a few minutes to get to know them.</p>

<p>The Federation of Exchange Accommodators (FEA) has received confirmation that the New Hampshire Governor John Lynch has signed SB 483 into law. According to the FEA:</p>

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<p>The new law amends prior law, which deprived taxpayers of Section 1031 tax deferral on a state level if they purchased replacement property in the name of a new entity, notwithstanding that the acquiring entity was a disregarded entity. The typical situation would be that in which a taxpayer was required by a lender or TIC sponsor to acquire a replacement property in the name of a new single member LLC. The State of New Hampshire began disallowing exchange treatment on those transactions in 2008 and began to audit previously closed transactions as far back as 2004, without notice either to taxpayers or to the professionals in the industry.</p>

<p>The new law makes it clear that exchange treatment will not be affected by taking title in the new entity as long as the entity is a single member LLC, revocable trust or other entity which is disregarded for federal income tax purposes. The amendment eliminates the “claw back” efforts to 2004.</p>
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<p>Accruit President and CEO Brent Abrahm, who co-chairs the organization's state legislative committee, says the new legislation is very good news for businesses in the state of New Hampshire and applauds the state's lawmakers for working to put its companies on a level footing with those in neighboring states.</p>

<p>Abrahm encourages potentially affected businesses to consult with their tax advisors on how SB 483 might affect their tax strategies. Additionally, Accruit representatives are happy to assist in these discussions in any way that the tax advisor deems appropriate.</p>