INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

The following table presents our provision for income taxes: 

	Year Ended December 31,
	2021		2020
Deferred tax (benefit)	$	77,894	$	(476,248)
Provision for income tax (benefit)	$	77,894	$	(476,248)

Schedule of Effective Income Tax Rate Reconciliation

The following is a reconciliation of our effective income tax rate as a percentage of pre-tax income to the U.S. federal statutory rate, for the years ended December 31, 2021 and 2020:

	Year Ended December 31,
	2021		2020
U.S. federal statutory income tax	21.0	%	21.0	%
REIT income not subject to federal income tax	(21.4)	%	(24.6)	%
State and local income taxes, net of federal tax benefit	(0.2)	%	(1.6)	%
Return to provision	(0.1)	%	(0.8)	%
Effective income tax rate	(0.7)	%	(6.0)	%

Schedule of Deferred Tax Assets

The TRS has a deferred tax asset , comprised of the following:

	As of December 31, 2021		As of December 31, 2020
Accumulated net operating losses of TRS	$	985,917	$	993,683
Mortgage servicing rights	$	261,440	$	319,048
Capitalized transaction costs	$	93,903	$	106,423
Net non-current deferred tax asset	$	1,341,260	$	1,419,154