Is it true that Congress is moving to repeal the tax law under I.R.C. § 1031 governing Like-Kind Exchanges?
Tax Professional Answers
Yes, recently on February 26, 2014, the House Ways & Means Committee Chairman Dave Camp released a Discussion Draft of his Comprehensive Tax Reform Proposal. The Discussion Draft does indeed propose a repeal of I.R.C. § 1031 in its entirety.
As a caveat, this is merely a proposal and not law and we are still in the initial stages of the legislative process.
Please utilize the subsequent link to access the full tax reform plan:
Take Action Now and Learn More: Learn more and voice your opposition to these proposals with these critical actions at www.1031taxreform.com.
Tax Questions By Topic:
Meet Leading Tax Advisors
Lakeland, Florida, USA
New York, New York, USA
Federal Tax Credits & Incentives Practice Leader
Denver, Colorado, USA
Fullerton, California, USA
Topanga, California, USA
Sanford, Florida, USA
Tyrone , Pennsylvania, USA
Rancho Santa Fe, California, USA
CEO/Certified Financial Advisor
Stellenbosch, South Africa
Exchange Control & Master Tax Practitioner (SA)
Longview, Washington, USA
Tax Consultant/Tax Advisor
Santa Clara, California, USA
Tax Principal - President
Chattanooga, Tennessee, USA
Boston, Massachusetts, USA
Tax Partner, International Tax
Senior Tax Manager
Toronto Mississauga Oakville Burlington Hamilton, Canada