Reading the Tea Leaves of Tax Reform

By | Housing Plus | April 23, 2014
Reading the Tea Leaves of Tax Reform

In prior Housing Plus blog entries we’ve discussed the various tax proposals that have been released over the past four months, including the comprehensive tax reform proposal from House Ways and Means Committee Chairman Dave Camp (R-MI), the Expiring Provisions Improvement Reform and Efficiency (EXPIRE) Act, which would temporarily extend more than 50 expired or expiring tax provisions, and the Obama administration’s fiscal year 2015 budget. 

Service Issues Favorable Private Letter Ruling On Reverse Parking Exchange Transaction Involving Multiple Related Parties

Service Issues Favorable Private Letter Ruling On Reverse Parking Exchange Transaction Involving Multiple Related Parties

In PLR 201416006 (4/18/2014)  the Service ruled that a taxpayer could successfully effectuate a reverse like-kind exchange under §1031, and in accordance with the safe harbor guidance issued in  Rev. Proc. 2000-37, 2000-2 C.B. 308,  even though the taxpayer and two related parties entered into a separate qualified exchange accommodation arrangements (QEAAs) for “parking” the same property held by an exchange accommodation titleholder (EATX).