News Archive

May 21, 2020

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 Updated May 21, 2021 The California Franchise Tax Board (“FTB”) recently emphasized its position on installment note...

April 22, 2020

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...

April 14, 2020

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...

April 8, 2020

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...

March 31, 2020

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...

September 10, 2019

California Conforms Selectively to IRC Section 1031 after the TCJA, but does not to Conform to Opportunity Zones

James T. Walther, Esq., LL.M. General Counsel Legal 1031 Exchange Services, LLC September 10, 2019, Updated January 2025 With the enactment of AB-91 “Loophole Closure and Small Business and Working...

April 8, 2019

10 Common Misconceptions About 1031 Exchanges

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 in...

March 14, 2019

The PA Legislature Reintroduces Small Business Tax Reform Package

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...

February 15, 2019

Investing in Opportunity Zones

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...

January 27, 2019

Pennsylvania still doesn’t recognize 1031 Exchanges

By: James T. Walther, Esq., LL.M.Exchange Director, Legal 1031 Exchange Services, Inc.January 27, 2019 **UPDATE: In July 2022, the Pennsylvania Legislature enacted HB 1342, a budget bill that included sweeping tax...

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