Like-exchanges under IRC Section 1031 (26 USCS 1031) are an important arrow in the quiver of tax planners. However, the collapse and ongoing weakness of the real estate market has highlighted risks associated with Section 1031 transactions, as well as...
By Andrew W. Singer, Esq.*
In addition to imposing disclosure obligations on participants in and material advisors to reportable transactions and penalties for violation of those obligations, the Code also imposes penalties in the form of excise taxes...