Tax Law

Recent Posts

IRC Section 1031 and Phantom Income: Can Property With No Equity Be Exchanged?
Posted on 23 Aug 2010 by Louis Weller

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... Read More

Penalties on Exempt Entities & Managers for Prohibited Tax Shelters
Posted on 2 Feb 2012 by LexisNexis Tax Law Center Staff

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... Read More