Tax Breaks: Doing Your Taxes Yourself Isn't Always A Slam Dunk
Our latest edition of Tax Breaks. The madness of March, tax filing season updates, industry updates, Chief Jim Lee says goodbye, and important dates.
Source: forbes.com
Final Regs News Today : Breaking News, Live Updates & Top Stories | Vimarsana
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Section 1031: What Is Real Property? Four Things You Should Know From The New Final Regulations | Tonkon Torp LLP
To embed, copy and paste the code into your website or blog: Effective December 2, 2020, the IRS issued its Final Regulations (the “Final Regs”) clarifying what is real property under Section 1031 of the Internal Revenue Code. The IRS issued these regulations to provide guidance in response to statutory changes in the Tax Cuts and Jobs Act, which provided that personal property is no longer eligible for Section 1031 treatment. Here are some highlights from the Final Regs, including a couple of major changes from the June 2020 proposed regulations (the “Proposed Regs”). Improvements ar...
Source: jdsupra.com