18 Sep
Posted by Mike Habib, EA as 1031 Exchange, IRS Audits, IRS Notice, IRS Problem, IRS audit advice, Tax Controversy, Tax Relief
IRS OKs use of one property to engineer a reverse and forward like-kind swap Chief Counsel Advice 200836024
In Chief Counsel Advice (CCA), IRS has given its blessing to the use of one property to engineer both a completed reverse like kind exchange and an attempted forward like kind exchange. The forward exchange was necessary [...]
08 Mar
Posted by Mike Habib, EA as 1031 Exchange, IRS Notice, IRS Problem
Like-Kind Exchanges Under IRC Code Section 1031
Mike Habib, EAmyIRSTaxRelief.com
Whenever you sell a business or an investment property and you have a gain, you generally have to pay tax on the gain at the time of sale. IRC Section 1031 provides an exception and allows you to postpone paying tax on the gain if you reinvest [...]