Unfortunately, this much-needed announcement has been marred by a departure from standard language, causing tax and legal professionals to debate the nature of the relief that the Notice granted.
While a rumored extension seems likely, investors should take a conservative approach and proceed as if no extension will be granted, with the understanding that they may get lucky.
The elimination of 1031 exchanges would most likely only occur with true tax reform, where portions of the code are rewritten or eliminated, Todd R. Pajonas writes in this <b>EXCLUSIVE</b> commentary.
