In response to the destruction caused by severe storms, straight-line winds, tornadoes and flooding, the IRS has announced extended tax relief for impacted Taxpayers within the entire states of Tennessee of Arkansas. The below is a summary of the specific tax relief in relation to 1031 Exchanges.
There are specific rules and regulations for a 1031 Exchange that involves a Related Party. Watch this video to learn more about who is a related party and what those specific rules are for a valid 1031 exchange involving related parties.
