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Tax and financial planning news from around the web: July 18 – 22, 2022

Written on Jul 22, 2022

Like kind exchanges: Near and long-term tax planning for Section 1031 
Lots of questions continue to swirl around the state of like-kind exchanges (real estate in particular) both in the near and long-term. As a tax planner, it's best to look at the current legislative impact, and the possibilities. One CPA offers his perspective. 

IRS offers simpler way for estates to extend time to file for tax exclusion 
The IRS has posted a revenue procedure to give widows and widowers the ability to file for an extension of time on a tax exclusion beyond the fifth anniversary of their spouse’s death.