Take Action Now: Tell Congress to Fix the Retail Glitch

 

Take Action Now: Tell Congress to Fix the Retail Glitch

NGA is calling on members of the Iowa Grocery Industry Association to help tell congress to fix the Retail Glitch. The Tax Cuts and Jobs Act includes a provision that intended to provide independent grocers with the opportunity to fully and immediately expense qualified improvement property (QIP), or interior remodels to stores. However, due to a drafting error in the new tax law, 1.) retailers are not eligible to receive the benefit of 100% expensing for QIP and 2.) interior remodels depreciate over 39.5 years.

Bipartisan legislation (H.R. 1869 / S. 803) that would make the needed technical correction and reduce your tax liability has garnered significant support and we need your help getting it across the finish line this year. Currently, there is a narrow window of opportunity to fix the retail glitch / QIP before 2019 comes to a close. We need your help urging party leaders to include the retail glitch fix in an end-of-year spending package.

Please fill out this form to contact your Members of Congress and ask them to urge leadership to "Fix the Retail Glitch” in 2019!

Click Here to Tell Congress to Fix the Retail Glitch!

Source: NGA