Fending Off High Taxes on a Client’s Source of Revenue

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A trade association client had thousands of members facing a tax hit that they would not be able to pay.

The problem involved mortgage servicing rights (MSR) and the legislation as written would have hit brokers with the full tax payment despite the fact they did not have the income to pay the tax.

We worked with tax writing committees in both the House and Senate to exclude so called MSRs from taxation.

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