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NAHB Seeks Safe Harbor for Quarterly Filers
Action Alert

NAHB called on the IRS to provide safe harbors for anxious home builders and businesses that pay quarterly taxes, but do not currently know how recent tax reform will be implemented and therefore may be underpaying.

NAHB developed a letter to Treasury Secretary, Steve Mnuchin on June 7, 2018 acknowledging the wide scope of the Tax Cuts and Jobs Act means the IRS will need ample amount of time to provide regulatory guidance. The letter also mentioned business owners still need reassurance that their estimates will not result in fines. You can view the letter here.

NAHB aims for the IRS to provide safe harbors when:

  • Underpayment is a direct or indirect result of changes made to the law
  • The taxpayer has made noticeable effort in calculating and paying their estimated tax
  • There was insufficient IRS guidance to calculate tax liability
NAHB cannot provide specific tax advice for small businesses filing quarterly returns. However, the association is working to provide its members with answers, so they are able to benefit from the changes in our nation's tax code.

At Capital Region Builders Association, we aim to create a unified voice for the housing industry at large. Your active efforts in legislative issues and advocacy campaigns such as this one will continue to make a positive impact within our community. We strongly encourage you to continue contacting elected officials as legislative issues arise at the local, state and national level.


Kindest regards,

Karen Zito
Executive Officer
Capital Region Builders Association

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