Is it true that Congress is moving to repeal the tax law under I.R.C. § 1031 governing Like-Kind Exchanges?

1031 Tax Deferred Exchange Like-Kind Exchanges Congressional Committee Reports

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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:

http://waysandmeans.house.gov/uploadedfiles/ways_and_means_section_by_section_summary_final_022614.pdf">http://waysandmeans.house.gov/uploadedfiles/ways_and_means_section_by_section_summary_final_022614.pdf

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Scott Saunders

Three separate tax reform proposals have been advanced by the House Ways and Means Committee, the Senate Finance Committee and the Treasury Department to either repeal or restrict tax deferral of gain from Section 1031 exchanges of like-kind property.
recession.

Take Action Now and Learn More: Learn more and voice your opposition to these proposals with these critical actions at www.1031taxreform.com.

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