IRS Cannot Extend Statutory Deadlines Beyond What Is Permitted in a Disaster Extension
IRS Cannot Extend Deadlines Taxpayers frequently ask us if there is any way to extend the 45-day and 180-day deadlines for identifying Replacement Property and completing an IRC Section 1031 Exchange. As a recent IRS letter pointed out, the answer is, “probably not.”...1031 Trick or Treat? Estate Planning, Tax Straddling, California SB 1079 & Cybercrime
The Brilliance of 1031 in Estate Planning We often talk about the immediate benefits of a 1031 Tax Deferred Exchange. 1031 is a great way to preserve equity, reposition assets and defer substantial amounts in taxes. What many do not realize is that 1031 Exchanges are...1031 in Estate Planning
The Brilliance of 1031 in Estate Planning We often talk about the immediate benefits of a 1031 Tax Deferred Exchange. 1031 is a great way to preserve equity, reposition assets and defer substantial amounts in taxes. What many do not realize is that 1031 Exchanges are...How Americans Plan to Vacation During Covid-19
Referenced in: The Covid-19 pandemic has turned vacation plans upside down for Americans. Instead of booking flights to travel abroad, travelers are opting for road trips and extended stays at vacation homes and short-term rentals locally within the United States....Survey Reveals How Airbnb Hosts are Coping During Covid-19
Airbnb and short-term rental property owners have felt the first-hand effects of Americans putting travel on hold due to Covid-19. Along with Americans limiting their travel, several states and local governments have put restrictions on short-term rentals, which has...Combination Exchanges
When a taxpayer intends to acquire multiple Replacement Properties, with some properties closing before the Relinquished Property sale and some properties closing after, both the Forward and Reverse Exchange structures can be combined to maximize the tax deferral.
