Ear to the Ground
Ear to the Ground
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Section 1031: What is Real Property? Four Things You Should Know From the New Final Regulations
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IRS Proposes New 1031 Regulations – Sculptures Are Real Property, Walls Are Not

The IRS issued Proposed Regulation 117589-18 on June 11, 2020 (the “Proposed Regs”), in response to legislative changes applicable to like-kind exchange transactions (“1031s”). The Proposed Regs address transactions involving both real property and…
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Top Three Investor-Friendly Rules from the Newest IRS Opportunity Zone Notice

The IRS issued Notice 2020-39 on June 5, 2020 in response to the COVID-19 pandemic, which extended several deadlines applicable to Opportunity Zone investments.
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COVID-19 Relief for 1031 Exchanges: Deadlines Moved to July 15, 2020

On April 9th, the IRS released Notice 2020-23. The Notice pertains to Section 1031 like-kind exchanges to defer capital gains tax on the sale of real property. Under the Notice, the 45-day identification deadlines and 180-day exchange deadlines that…
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Federal Tax Law Drafting Error Punishes Commercial Developers

The Tax Cuts and Jobs Act, signed into law in December 2017, promised radical changes to the federal tax code. Many of its goodies were aimed and the real estate industry, but because of a critical drafting error, many commercial landlords and…
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Opportunity Zones: A Threequel

Last month the IRS issued additional guidance in the form of more proposed regulations. The latest guidance is generally favorable to real estate investors, and reflects continuing efforts by the Government to promote the purposes and intent of the…
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