Extension of Deadlines for 1031 Exchanges (and Some Ambiguity)

The #IRS announced extensions for 1031 exchange ID and closing deadlines, however, some ambiguity in conflicting sections of the tax code will require further clarification on the specifics. Either way, this welcome update gives some taxpayers currently working on a 1031 exchange a bit of welcome breathing room.

Paying Bills in Bitcoin Can Trigger a Taxable Event

It is becoming more and more common for businesses to accept Bitcoin (“BTC”) as payment, with AT&T recently announcing that customers can now pay their bill using Bitcoin. Read our blog for details on the tax implications Bitcoin can have.