Question: What is an Internal Revenue Code Section 1031 Like-Kind Exchange? Answer: Section 1031 of the Internal Revenue Code allows a taxpayer who owns business or investment real estate to “exchange ...
Discover the benefits of swapping like-kind properties under IRS 1031 rules to avoid capital gains taxes, and learn about ...
As the Ides of April approach for individual tax filers, a mad dash to find tax savings is underway. Many real estate investors and professionals are quite familiar ...
On April 9, 2020, the IRS issued Notice 2020-23 (the “Notice”) which expands the filing and payment deadline relief announced by the Internal Revenue Service (“IRS”) in March. The March announcement ...
Real estate investors may be familiar with the acronym DST, which in the context of Internal Revenue Code Section 1031 like-kind exchanges, refers to a Delaware Statutory Trust. A 1031 DST is a ...
On June 11, 2020, the Treasury Department released proposed regulations regarding like kind exchanges under Internal Revenue Code section 1031 (“1031 Exchange”). The regulations clarify a number of ...
The accounting rules for the Pennsylvania Personal Income Tax do not follow the Federal Tax Code. Instead, they follow generally accepted accounting principles. The Pennsylvania Department of Revenue ...
New York’s personal income tax law, like that of other states, conforms with the federal system of income taxation. The reason typically given for such conformity ...
As a result of the severe winter storms, flooding and mud slides that began in California on January 8, 2023, on January 10, 2023, the IRS issued an initial extension ...
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