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The article focuses on the basics of like-kind exchanges of real estate under Section 1031 of the Internal Revenue Code (IRC) and the implications of recent regulatory changes. Topics include the basic requirements for like-kind exchange treatment, updates to the definition of real property, and key considerations for taxpayers engaging in these transactions.

The article focuses on the proposal of the U.S. Senate and House to eliminate the Internal Revenue Code Section 1031 or like-kind exchange. It is considered as the most effective tax code provision as it allows taxpayers to defer tax provided it will invest in like-kind assets. It notes that a repeal of Section 1031 will lead to slow economic growth, affect real property owners, and reduce gross domestic product growth. A diverse range of industry calls the Congress to preserve such section.

The article reports on the issuance of Revenue Procedure (Rev. Proc.) 2010-14 by the U.S. Internal Revenue Service (IRS) that will not treat taxpayers as being in actual or constructive receipt of exchange proceeds if the exchange is incomplete in bankruptcy or receivership. The qualified intermediary (QI) is used by taxpayers in like-kind transactions, where the relinquished property is transferred to the QI, who will sell the property to a buyer. Under the safe-harbor gross profit method, the payment to the relinquished property is recognized as gain.

The article reports that a proposal to gut 1031 exchanges of their tax advantages is causing shopping center investors in the U.S. to be anxious. The term refers to Section 1031 of the Internal Revenue Code that allows deferral of capital gains and recapture tax on an investment property in exchange of a like-kind property instead of being sold for cash.

The article discusses the work accountants need to do in the area of qualified intermediaries (QI). In terms of the U.S. Internal Revenue Code section 1031, the article states, QIs facilitate tax-deferred exchanges of like-kind property. Topics include one billion dollars worth of investor losses due to failed QIs.

The article discusses the section 1031 of the Internal Revenue Code that permits the exchanging of like kind property in the U.S. Property owners who hold real estate for productive use in a trade or business or for investment engage in 1031 exchanges on selling such property and exchange it for property of like kind. 1031 exchange is aimed to defer the capital gains tax on the sale of that original property.

The article discusses the advantages and components of like kind exchanges in the real estate industry in the U.S. The policy is used by capitalists seeking to maximize their portfolios and those businesses wanting to relocate. The Internal Revenue Service emphasizes that the scheme is applicable only to those properties that are confined for commercial use.

The article discusses the U.S. Internal Revenue Service's issuance of Chief Counsel Advice 201238027 which deals with state law property classifications, exchanged properties, and Section 1031 of the nation's Internal Revenue Code (IRC) as of January 2013. American federal income tax laws are addressed, along with an examination of the deferral treatment under the like-kind exchange rules in Section 1031 of the IRC.

The article discusses the report on like-kind exchanges done by the Government Accountability Office (GAO) of the U.S. in September 2007. The GAO found out that the Internal Revenue Services (IRS) needs to give taxpayers more guidance on like-kind exchanges on second homes and vacation retreats. IRS allegedly agreed with the findings and promised to release a more specific guidance. According to the GAO, the response of the IRS which is contained in the Revenue Procedure 2008-16 seem to fall short of its commitment.

The article discusses strategies for the use of tax-deferred like-kind exchanges. The author suggests that aside from securing non-recognition treatment, the right to the fastest write-off permitted for the remaining basis in the acquired property in the like-kind exchange is also significant to the economics of the overall deal.

Discusses the like-kind exchange rules under the U.S. Internal Revenue Code in relation to home sale exclusion. Exclusion of gain stated in the American Jobs Creation Act of 2004; Information on a reduced home sale exclusion; Differences between tax deferral under the like-kind exchange rules and the application of the home sale exclusion to any gain realized on a future sale of the property.