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News

02/25/2021

1031 EXCHANGE UPDATE: TAX RELIEF FOR TEXAS

1031 EXCHANGE UPDATE: TAX RELIEF FOR TEXAS THE IRS ISSUES DISASTER RELIEF FOR TAXPAYERS AFFECTED BY SEVERE WINTER STORMS IN TEXAS   By: James T. Walther, Esq., LL.M., General Counsel,...
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01/19/2021

What is the 3.8% “MEDICARE TAX” or NET INVESTMENT INCOME TAX (“NIIT”)?

Many investors selling real estate or other high value investments are often surprised to find out that their tax liability could be subject to an extra 3.8% Surtax in addition...
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12/23/2020

Happy Holidays!

The holiday season is the perfect opportunity to reflect on our cherished relationships – the family and friends that we hold dear and our treasured time with them. In reflection,...
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12/09/2020 / News

1031 EXCHANGE UPDATE: The IRS and Treasury Release Final Regulations Defining “Real Property” for purposes of IRC Section 1031 Exchanges

By: James T. Walther, Esq., LL.M.; David J. Feeser, Esq.; Todd R. Pajonas, Esq. If you are an attorney, or accountant, or a commercial real estate professional, you may have...
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11/23/2020 / News

1031 Exchange Insights: Filing an Extension of a Tax Return due date to Preserve your 180-day Exchange Period

IRC Section 1031 requires that taxpayers acquire all replacement property by the earlier of 180 days from the sale of the relinquished property or the Federal tax return due date...
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11/05/2020

What Transactional Costs can I Pay with my 1031 Exchange Funds?

By: James T. Walther, Esq., LL.M., General Counsel, and Todd R. Pajonas, Esq., President, Legal 1031 Exchange Services, LLC The answer to this question is “it depends.” For some items,...
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10/08/2020

A 1031 Exchange is not a “tax loophole” or a “tax dodge.” It is a tax benefit that helps fuel the economy.

By: James T. Walther, Esq., LL.M. Legal 1031 Exchange Services, LLC Presidential candidate Joe Biden recently announced his proposed tax plan, which seeks to fund a $775 billion child and...
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10/05/2020

The IRS Issues CV-19 Tax Relief for Delaware Statutory Trusts, a Common Investment Option for 1031 Exchange Investors

By: James T. Walther, Esq., LL.M. Interests in Delaware Statutory Trusts (“DSTs”) are commonly purchased as replacement properties by 1031 investors. The IRS allows these fractional interests in an investment trust...
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09/16/2020 / News

1031 EXCHANGE UPDATE- IRC 1031 EXCHANGES AND DISASTER RELIEF 2020

THE IRS ISSUES DISASTER RELIEF FOR HURRICANE LAURA, CALIFORNIA WILDFIRES, AND OTHER RECENT DISASTERS By: James T. Walther, Esq., LL.M., General Counsel, Legal 1031 Exchange Services, LLC As we get...
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09/01/2020

CV-19 Disaster Relief Update

The IRS Finally Clarifies its April Guidance Providing Extensions for 1031 Exchange Deadlines On August 11, 2020, the IRS published an FAQ on its website finally clarifying that Notice 2020-23...
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