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Internal Revenue Code (IRC) Like Kind Exchanges Section 1031 Exchange

Levenfeld Pearlstein, LLC

Practical 1031: What is an Internal Revenue Code Section 1031 Like-Kind Exchange?

Question: What is an Internal Revenue Code Section 1031 Like-Kind Exchange? Answer: Section 1031 of the Internal Revenue Code allows a taxpayer who owns business or investment real estate to “exchange” the real estate the...more

Greenberg Glusker LLP

IRS Further Extends Deadline for 1031 Exchanges Affected by the 2023 California Severe Winter Storms: Key Points You Need to Know

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As a result of the severe winter storms, flooding and mud slides that began in California on January 8, 2023, on January 10, 2023, the IRS issued an initial extension of the 45- and 180-day deadlines for IRC §1031 exchange...more

Greenberg Glusker LLP

IRS Extends Deadline for 1031 Exchanges Affected by the 2023 California Severe Winter Storms: Key Points You Need to Know

Greenberg Glusker LLP on

As a result of the severe winter storms, flooding and mud slides that began in California on January 8, 2023, the IRS has issued an extension of the 45- and 180-day deadlines for IRC §1031 exchange transactions. ...more

Polsinelli

Additional Guidance Issued for President Biden’s American Jobs and American Families Plan

Polsinelli on

In April 2021, President Biden announced the “American Families Plan,” which included some significant tax law changes. Among the proposed changes included in the “American Families Plan” was the increase of the tax rate that...more

Mayer Brown

Final Like-Kind Exchange Regulations Contain Much-Needed Clarity for Natural Resource-Related Assets

Mayer Brown on

In December of 2020, the US Internal Revenue Service (the “IRS”) issued final regulations (T.D. 9935) (the “Final Regulations”) on like-kind exchanges under Section 1031 of the Internal Revenue Code of 1986, as amended. The...more

Cozen O'Connor

IRS Issues Final Regulations Governing 1031 Exchanges – The “Like Kind” Standard Defined

Cozen O'Connor on

On November 23, 2020, Treasury and the IRS issued final regulations governing tax-deferred exchanges of like-kind real property under Section 1031 of the Internal Revenue Code (the Code). These final regulations (T.D. 9935 )...more

Seyfarth Shaw LLP

US Department of Treasury Proposes Regulations Under Code Section 1031 That Provide Taxpayer-Friendly Guidance on Like-Kind...

Seyfarth Shaw LLP on

Seyfarth Synopsis:  On June 12, 2020, the US Department of Treasury (the “Treasury”) promulgated proposed treasury regulations (the “Proposed Regulations”) under section 1031 (“Section 1031”) of the Internal Revenue Code of...more

Kelley Drye & Warren LLP

IRS Proposes Regulations that Define Real Property for Purposes of Like-Kind Exchanges, Providing Welcome Relief, But the Proposal...

On June 11, 2020, the Internal Revenue Service (the “IRS”) issued proposed regulations that define the term “real property” for purposes of Section 1031 of the Internal Revenue Code of 1986, as amended (the “Code”)....more

Foster Garvey PC

Decoding the Tax Cuts and Jobs Act – Part II: IRC § 1031 and Tax Deferred Exchanges Take a Haircut

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BACKGROUND - On February 21, 2014, then House Ways and Means Committee Chairman Dave Camp (R-Michigan) issued a discussion draft of the “Tax Reform Act of 2014.” The proposed legislation spanned almost 1,000 pages and...more

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