News
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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Potential Covid-19 Extension for 1031 Exchanges
03/31/2020
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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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
09/10/2019
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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10 Common Misconceptions About 1031 Exchanges
04/08/2019
By: James T. Walther, Esq., LL.M. Exchange Director, Legal 1031 Exchange Services, LLC What is a 1031 Exchange? Although tax deferred exchanges have been part of the Tax Code...
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The PA Legislature Reintroduces Small Business Tax Reform Package
03/14/2019
1031 NEWS UPDATE – TRY, TRY AGAIN – THE PA LEGISLATURE REINTRODUCES SMALL BUSINESS TAX REFORM PACKAGE, WHICH SEEKS TO RECOGNIZE IRC §1031 by James T. Walther, Esq. LL.M. March...
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Investing in Opportunity Zones
02/15/2019
INVESTING IN OPPORTUNITY ZONES BACKGROUND, BASICS, AND COMPARISON TO 1031 EXCHANGES by James T. Walther, Esq. LL.M. Introduction: Opportunity Zones (OZs) have frequently been a topic of discussion in the...
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