irs: Re-Post - The Difference Between the Mortgage Forgiveness Debt Relief Act of 2007 and State Anti-Deficiency Laws
- 06/26/08 02:23 PM
A week or so ago, I wrote a post detailing the Mortgage Forgiveness Debt Relief Act of 2007 (MFDRA) because I'd read a number of posts where the authors confused the MFDRA with their state's anti-deficiency laws. That post was lost when AR timed out on me when I went to publish the post. If you want to get the information from the horse's mouth (the IRS) here's a link to the IRS publication regarding the MFDRA. I'm summarizing it below. The main difference between MFDRA is who is providing the protection. MFDRA is federal law and applies to your federal … (12 comments)
irs: The Difference Between the Mortgage Forgiveness Debt Relief Act of 2007 and State Anti-Deficiency Laws
- 06/26/08 09:42 AM
A week or so ago, I wrote a post detailing the Mortgage Forgiveness Debt Relief Act of 2007 (MFDRA) because I'd read a number of posts where the authors confused the MFDRA with their state's anti-deficiency laws. That post was lost when AR timed out on me when I went to publish the post. If you want to get the information from the horse's mouth (the IRS) here's a link to the IRS publication regarding the MFDRA. I'm summarizing it below. The main difference between MFDRA is who is providing the protection. MFDRA is federal law and applies to your federal income … (7 comments)
irs: PHISHING SCAM ALERT RE: IRS ECONOMIC STIMULUS REBATE
- 05/15/08 03:50 AM
Please Alert Your Clients to This Email/Phone Scam Last night I posted a version of this to get the word out fast but there were very few AR'ers online. I received the email below yesterday purporting to be from the IRS regarding how to collectmy IRS Economic Stimulus Rebate. IT IS A SCAM. Note that the link listed does not even include www.irs.gov. I apologize for the poor resolution of the screen shot. (I'm still learning how to efficiently insert screen shots into my blog) Please feel free to leave me any tips. I'm not re-posting this for the points but simply to get … (4 comments)
irs: PHONE/EMAIL SCAM RE: IRS Economic Stimulus
- 05/14/08 05:26 PM
Please Alert Your Clients to This Scam I received this email today purporting to be from the IRS regarding collecting my IRS Economic Stimulus Rebate. It is a scam. Note that the link listed does not even include www.irs.gov. I apologize for the poor resolution of the screen shot. (I'm still learning how to efficiently insert screen shots into my blog) Please feel free to leave me any tips.
Below is what the IRS has to say about this scam (I excerpted the relevant information from the IRS website but there were several variations on this scam that the IRS … (6 comments)
irs: 1031 Exchanges - Don't Miss These Posts On Development Rights
- 05/05/08 09:07 AM
Exchanging Development Rights I posted these during a low traffic period this morning. I've been checking on the stats and it looks like they were largely missed. Click here for Post 1 of 2 "Definition of Development Rights" and click here for Post 2 of 2 for the "IRS's Analysis of Transferable Development Rights." If you are working with clients who own large tracts of land, these posts will be very helpful for you. Lisa A. Lambert, Esq. 877.646.1031 or LisaL@apiexchange.com Asset Preservation, Inc. 800.282.1031 or info@apiexchange.com or www.apiexchange.com
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irs: 1031 Exchanges - Development Rights - Post 2 of 2
- 05/05/08 06:19 AM
How the IRS Analyzes Whether Transferable Development Rights are Like-Kind In my previous Post 1 of 2 that addressed the definition of Transferable Development Rights ("TDR") we saw that the IRS, in a PLR* determined that they were like-kind to a fee simple. Below, we will look at the analysis and reasoning the IRS applied in coming to that conclusion. Does the State Consider TDR to be Real Property? In determining whether the TDRs constituted an interest in real property, the IRS noted that certain tax statutes in the state in which the TDRs were located treated TDRs as real property. "Although it is unclear … (2 comments)
irs: 1031 Exchanges - Development Rights - Post 1 of 2
- 05/05/08 06:04 AM
Several weeks ago in my blog I discussed different types of property that may or may not qualify as like-kind including leaseholds, oil, gas and mineral rights, water rights, REITS and Timeshares, and easements. In this post we will examine the definition of development rights and in Post 2 we will examine the IRS's analysis of development rights and how they may qualify as like-kind to real property. Definition of Development Right A "Development Right" is defined as an unused right to develop a property to the extent permitted under state or local law. As states and municipalities have acted to restrict and regulate … (4 comments)
Discussing 1031 Exchange Issues and Related Real Estate Issues in California. Specifically focusing on the Merced, Madera, Fresno, Selma, Reedley, Oakhurst,Visalia, Hanford, Porterville and Bakersfield areas.
A week or so ago, I wrote a post detailing the Mortgage Forgiveness Debt Relief Act of 2007 (MFDRA) because I'd read a number of posts where the authors confused the MFDRA with their state's anti-deficiency laws. That post was lost when AR timed out on me when I went to publish the post.
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