Would you like some good news? There has been success regarding the like-kind status in the Farm Bill! More to come on this later, but for now, please allow me to announce that the provision contained in the Senate version of the Farm Bill that sought to re-define the concept of "like-kind" in relation to Section 1031 tax-deferred exchanges HAS BEEN REMOVED from the bill by the members of the conference committee! Word was just received at the headquarters of the Federation of Exchange Accommodators about 25 minutes ago of the success of our grassroots effort to educate the members of Congress on the impact of their folly; how it would have created a huge detriment to the ability of retiring farmers to dispose of their properties in the manner which has been available to them for many, many years, and would have caused a decrease in the value of their land as well.
Thank you for your calls to your congresspeople to help preserve this option for farmers and all of us!
Ken Tharp
Providing Qualified Intermediary services for Section 1031 tax deferred exchanges all over the United States. Headquartered in Iowa, our services are available in Missouri, Kansas, Nebraska, Colorado, North Dakota, South Dakota, Minnesota, Wisconsin, Illinois, and all other states.
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Copyright © 2008 By Ken Tharp, All Rights Reserved. * Would You Like Some Good News? Success Regarding Like-Kind Status in the Farm Bill * Contact Ken Tharp for information on Section 1031 tax-deferred exchanges anywhere in the United States.
Ken, Ah, Politics, sweet politics. Congratulations.
Bill Roberts