1031 News

Clarification Requested on IRS Notice 2020-23

on Mon, 04/27/2020 - 10:17 Jordan Born

The FEA issued its second joint letter dated April 20, 2020 requesting clarity on the 1031 exchange1031 exchange deadlines per IRS Notice 2020-23. The ambiguity of the Notice has left questions regarding pertinent details, such as if this deadline extension is mandatory, or simply available for those who need more time to complete their 1031 exchange.

Is Early Release of Exchange Funds Possible Under 1031 Exchange Rules?

on Tue, 04/14/2020 - 16:31 Martin Edwards

Does compliance with the IRS position in these instances matter, when the exchange is not going to be carried out and the taxpayertaxpayer is willing to pay the taxes? It may not matter from the taxpayer’s standpoint, but the QI is responsible for adhering to a course of conduct outlined by the Regulations and other rulings. Acting otherwise jeopardizes the QI’s position with the IRS and could jeopardize the exchanges of numerous other taxpayers.

Deadline Extension for 1031 Exchanges due to COVID-19

on Mon, 04/13/2020 - 11:17 Jordan Born

March 31st we posted a blog providing detailed information regarding a request from a coalition of interested real estate groups to the IRS to provide some relief to taxpayers on mandated exchange deadlines. On April 9, 2020, the IRS issued Notice 2020-23 Providing Additional Relief for Taxpayers Affected by the COVID-19 Pandemic. Affected Taxpayers performing Section 1031 exchanges are included in the amplified relief. Among other subjects, this Notice extends the 45-day identification period...

Deadline Extension for 1031 Exchanges due to COVID-19

on Fri, 04/10/2020 - 10:19 Jordan Born

IRS Notice 2020-23 Provides Relief for Taxpayers Affected by the COVID-19 Pandemic. Learn more about how this deadline extension for 1031 exchanges may affect you.

Extension of 1031 Exchange Deadlines Due to COVID-19 Crisis

on Tue, 03/31/2020 - 10:11 Jordan Born

Accruit, LLC is closely monitoring any 1031 exchange1031 exchange deadline extensions due to COVID-19 on both a state and federal level through the Department of Treasury and IRS

Real Estate Letter to Treasury Requesting Like-Kind Exchange Deadline Reliefe

Notice 2020-19 postponement of filing payment of 2019 tax returns

Reverse Exchange & Parking Arrangements

on Thu, 03/26/2020 - 14:33 Brendan Lewis

As uncertain as we are of the current economic situation, investors are optimistic when it comes to real estate opportunities but may be seeking certitude in the concepts of 1031 exchange1031 exchange . Tried and true, tax-deferred exchanges translate to more value in the property portfolios of investment and business use property owners. That’s...

Considerations When Transferring Real Estate in Reverse 1031 Exchanges

on Wed, 01/15/2020 - 17:04 Jordan Born

Considerations When Transferring Real Estate in 1031 Exchanges

Under Revenue Procedure 2000-37, title to a relinquished or replacement propertyreplacement property may be “parked” with an Exchange Accommodation TitleholderExchange Accommodation Titleholder (EAT) until the taxpayertaxpayer is able to sell the parked property to an unrelated party as part of a regular forward 1031 exchange1031 exchange . When the reverse exchangereverse exchange involves the parking of a replacement property...

Using a White Knight to Rescue a Failing Reverse Exchange

on Wed, 10/23/2019 - 17:57 Martin Edwards

What is a white knight and how can it rescue a failing reverse 1031 like-kind exchange

What is a Reverse Exchange and What Causes it to Fail?

A conventional IRC §1031 tax deferred exchange involves, among other things, a taxpayer’s sale of old property (the “relinquished property”) followed by the purchase of new property (the “replacement property”) within a 180 day period. A so-called reverse exchange takes place when the taxpayertaxpayer is forced to acquire the ...

Selecting the Entity for a Real Estate Purchase – Limited Liability Companies

on Thu, 04/04/2019 - 17:05 Jordan Born

In our fourth and final installment of our continuing series on entity selection for owning real estate, we will address the business and tax law considerations concerning limited liability companies.

What is a Limited Liability Company?

Limited liability companies (LLCs) are the most popular choice of organizational form because of the inherent flexibility in most state statutes that enhances the ability of the entity to adopt features that best serve its objectives. LLCs are a very common choice for owning real estate because of their tax treatment, limited liability and flexibility in allocating power structure and management responsibilities.

The best way to understand the unique features of an LLC is to distinguish it from the other entities we’ve discussed in Parts I – III in this blog series. The principal...

Joseph Lane Named Vice Chairman of Napier Park

on Wed, 02/20/2019 - 11:31 Accruit

Accruit board member Joseph Lane was named vice chairman of Napier Park Global Capital and appointed to the firm's leadership team as a member of the Management Committee.

A managing director in Napier Park's Real Assets group, Joe has over 35 years of experience in financial services. He has previously served as CEO of GE Technology Finance and as president of IBM Credit Corporation. Joe has been director and chairman of the Equipment Leasing and Finance Association (ELFA), and chairman of the Equipment Leasing and Finance Foundation. He was elected to the Equipment Finance Hall of Fame in 2015.

Read the full article in the Monitor Daily.

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1031 News

Clarification Requested on IRS Notice 2020-23

Is Early Release of Exchange Funds Possible Under 1031 Exchange Rules?

Deadline Extension for 1031 Exchanges due to COVID-19

Deadline Extension for 1031 Exchanges due to COVID-19

Extension of 1031 Exchange Deadlines Due to COVID-19 Crisis

Reverse Exchange & Parking Arrangements

Considerations When Transferring Real Estate in Reverse 1031 Exchanges

Using a White Knight to Rescue a Failing Reverse Exchange

What is a Reverse Exchange and What Causes it to Fail?

Selecting the Entity for a Real Estate Purchase – Limited Liability Companies

What is a Limited Liability Company?

Joseph Lane Named Vice Chairman of Napier Park

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What is a Reverse Exchange and What Causes it to Fail?

What is a Limited Liability Company?

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