05/20/2020
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News
1031 Exchange Update: California FTB’s Failure to Withhold Penalties for 1031 Exchange Rescue Transactions/QIs are in Effect as of March 24, 2020
By: James T. Walther, Esq., LL.M., General Counsel Legal 1031 Exchange Services, LLC The California Franchise Tax Board (“FTB”) recently emphasized its position on installment note or installment trust structures...
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04/22/2020
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News
Ambiguous 1031 Exchange Extension Notice puts QIs and Exchangers in an awkward position
By David J. Feeser, Esq. and James T. Walther, Esq., LL.M The commercial real estate industry is in uncharted waters due to the impact of the COVID-19 pandemic. The economic...
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04/14/2020
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News
It’s a Struggle to Understand the IRS’ Guidance for 1031 Extensions
Unfortunately, this much-needed announcement has been marred by a departure from standard language, causing tax and legal professionals to debate the nature of the relief that the Notice granted. By...
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04/10/2020
Covid-19 Extension for 1031 Exchanges and Opportunity Zones
The IRS published Notice 2020-23 on April 9, 2020, which provides, among other items, an extension of the 1031 Exchange and Opportunity Zone deadlines, as a result of the Covid-19...
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04/08/2020
Net Lease Investors Hope IRS Will Grant Extensions Amid the Coronavirus
While a rumored extension seems likely, investors should take a conservative approach and proceed as if no extension will be granted, with the understanding that they may get lucky. By...
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04/08/2020
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News
Eagerly awaiting a Covid-19 extension for 1031 Exchanges
by Todd R. Pajonas, Esq, Matthew K. Scheriff, CPA and James T. Walther, Esq., LL.M. A 1031 exchange is a tax strategy used by real estate investors to defer capital...
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03/31/2020
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News
Potential Covid-19 Extension for 1031 Exchanges
For those real estate investors currently involved in a 1031 exchange one of the most pressing questions is “will there be an extension of the 45 day identification period and...
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03/13/2020
1031 Deadlines and the potential impact of COVID-19
March 13, 2020 This week, we have seen an increased number of inquiries regarding the effect of the Coronavirus (COVID-19) outbreak on the strict deadlines (45-day identification and 180-day exchange...
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09/10/2019
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News
California Selectively Conforms to Changes to IRC Section 1031 Made by the Tax Cuts and Jobs Act, but Still Leaves Opportunity Zones on the Sidelines for Now
James T. Walther, Esq., LL.M. General Counsel Legal 1031 Exchange Services, LLC September 10, 2019 With the recent enactment of AB-91 “Loophole Closure and Small Business and Working Families Tax...
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04/08/2019
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News
10 Common Misconceptions About 1031 Exchanges
By: James T. Walther, Esq., LL.M. Exchange Director, Legal 1031 Exchange Services, Inc. What is a 1031 Exchange? Although tax deferred exchanges have been part of the Tax Code...
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