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IRS Extends Section 1031 Like-Kind Exchange Deadline

Each listed Disaster Areas has its own Disaster Date on which tax relief, including the extension of 1031 Exchange deadlines, is keyed. The IRS’s Disaster Relief Notices, in conjunction with Revenue Procedure 2018-58, give taxpayers two options to extend their 1031 Exchange deadlines: a general relief option (for Exchanges in progress on or after the…

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1031 Exchanges Serve as Vital Stimulant for Economic Growth

Section 1031 like-kind exchanges stimulate economic growth. Repealing or restricting 1031 in the guise of tax reform could quash the nascent real estate recovery. CHICAGO, April 2, 2013 /PRNewswire/ — After several years, real estate values are beginning to recover and activity is steadily increasing. It’s a promising trend that needs to be supported, not…

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