1031 EXCHANGE UPDATE: TAX RELIEF FOR TEXAS
02/25/2021
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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What is the 3.8% “MEDICARE TAX” or NET INVESTMENT INCOME TAX (“NIIT”)?
01/19/2021
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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1031 EXCHANGE UPDATE: The IRS and Treasury Release Final Regulations Defining “Real Property” for purposes of IRC Section 1031 Exchanges
12/09/2020
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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1031 Exchange Insights: Filing an Extension of a Tax Return due date to Preserve your 180-day Exchange Period
11/23/2020
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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A 1031 Exchange is not a “tax loophole” or a “tax dodge.” It is a tax benefit that helps fuel the economy.
10/08/2020
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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1031 EXCHANGE UPDATE- IRC 1031 EXCHANGES AND DISASTER RELIEF 2020
09/16/2020
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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1031 Exchange Update: California FTB’s Failure to Withhold Penalties for 1031 Exchange Rescue Transactions/QIs are in Effect as of March 24, 2020
05/21/2020
By: James T. Walther, Esq., LL.M., General Counsel Legal 1031 Exchange Services, LLC Updated May 21, 2021 The California Franchise Tax Board (“FTB”) recently emphasized its position on installment note...
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Ambiguous 1031 Exchange Extension Notice puts QIs and Exchangers in an awkward position
04/22/2020
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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It’s a Struggle to Understand the IRS’ Guidance for 1031 Extensions
04/14/2020
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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Eagerly awaiting a Covid-19 extension for 1031 Exchanges
04/08/2020
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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