BOI Reporting and CTA: FinCEN’s Response
BOI REPORTING UNDER CTA ACTIVE BUT NOT BEING FULLY ENFORCED FinCEN CURRENTLY IN DAMAGE CONTROL MODE Updated March 12, 2025 James T. Walther, Esq., LL.M. General Counsel This News Alert is an update to our prior articles on the Corporate Transparency Act (CTA) and its BOI reporting requirements, linked below at the end of the […]
February 2025 Disaster Relief Update
TAX RELIEF FOR 2025 KENTUCKY STORMS Throughout the month of February, the IRS has issued tax relief that can extend/postpone the 45-day and 180-day deadlines applicable to ongoing Section 1031 exchanges for the below-referenced disaster areas. Each Notice provides universal tax relief that extends the deadline to file various individual and business tax returns and […]
New Texas Exchange Director Cindy Pham
We are excited to announce that Cindy Pham has joined Legal 1031 Exchange Services, LLC as an Exchange Director, expanding our support for real estate investors in Texas, outside the Houston area. With extensive experience in real estate and 1031 exchanges, Cindy brings valuable expertise to our growing team. Cindy brings extensive knowledge and expertise in […]
January 2025 Disaster Relief Update
TAX RELIEF FOR 2025 CALIFORNIA WILDFIRES Recently, the IRS issued tax relief that can extend/postpone the 45-day and 180-day deadlines applicable to ongoing Section 1031 exchanges for the California wildfires. The affected area is currently limited to Los Angeles County. Updates can be found on the IRS website. CALIFORNIA (CA-2025-01) Wildfires and Straight-line Winds: Notice […]
December 2024 Disaster Relief Update
Throughout the month of December, the IRS has issued tax relief that can extend/postpone the 45-day and 180-day deadlines applicable to ongoing Section 1031 exchanges for the below-referenced disaster areas. Each Notice provides universal tax relief that extends the deadline to file various individual and business tax returns and to make tax payments for affected […]
Corporate Transparency Act Currently Stayed: Appeals Court Reinstates Nationwide Stay on Enforcement
IMPORTANT CLIENT REAL ESTATE AND BUSINESS LAW ALERT: CTA CURRENTLY STAYED – APPEALS COURT REVERSES PRIOR DECISION AND REINSTATES NATIONWIDE STAY RESTRICTING ENFORCEMENT OF THE CORPORATE TRANSPARENCY ACT Updated December 30, 2024 James T. Walther, Esq., LL.M. General Counsel This Alert is an update to our prior articles on the Corporate Transparency Act, linked […]
Corporate Transparency Act: Nationwide Stay Issued by Texas Court
REAL ESTATE AND BUSINESS LAW ALERT TEXAS COURT ISSUES A NATIONWIDE STAY RESTRICTING ENFORCEMENT OF THE CORPORATE TRANSPARENCY ACT December 13, 2024 James T. Walther, Esq., LL.M. General Counsel **Updated 12.24.24 – On December 23, 2024, the Court of Appeals in Texas reversed its decision from earlier this month, which had issued a nationwide […]
November 2024 Disaster Relief Update
Throughout the month of November, the IRS has issued tax relief that can extend/postpone the 45-day and 180-day deadlines applicable to ongoing Section 1031 exchanges for the below-referenced disaster areas. Each Notice provides universal tax relief that extends the deadline to file various individual and business tax returns and to make tax payments for affected […]
October 2024 Disaster Relief Update
Throughout the month of October, the IRS has issued tax relief that can extend/postpone the 45-day and 180-day deadlines applicable to ongoing Section 1031 exchanges for the below-referenced disaster areas. Each Notice provides universal tax relief that extends the deadline to file various individual and business tax returns and to make tax payments for affected […]
Navigating the Complexities of 1031 Tax Straddles
When a 1031 exchange crosses over from one tax year to the next, it creates a unique scenario called a “tax straddle.” This strategy can offer valuable, short-term deferral benefits for exchangers when a property sale and replacement purchase are not completed within the same tax year. With tax straddles, certain gains from a failed […]