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BNA Tax Portfolio Analyzes Tax-Free Exchanges Under Section 1031

NEWS RELEASE

Contacts:
Mark Carrington
(202) 530-1728

Washington, DC (August 2, 2007) – BNA®, publisher of the authoritative and universally recognized Tax Management Portfolios, has released the latest addition to the U.S. Income series, Portfolio 567-4th Tax-Free Exchanges Under Section 1031.

Authored by Howard J. Levine, Esq., of Roberts & Holland, the Portfolio analyzes the nontaxable exchange provisions of § 1031 of the Internal Revenue Code. The discussion includes the types of property that do and do not qualify for nonrecognition treatment; the concepts of “like-kind,” “boot” and “exchange,” the deferred exchange rules; the rules relating to the allocation of boot; and the determination of the basis and holding period of properties received in such exchanges.

This latest edition to the U.S. Income series also discusses the problems involved in sale and leaseback transactions, multi-party exchanges, multi-asset exchanges, and reverse exchanges.

This Portfolio may be cited as BNA Tax Portfolio 567-4th Levine, Tax-Free Exchanges Under Section 1031 (U.S. Income).

Howard J. Levine has concentrated in the taxation of international activities, like-kind exchanges, controversy and litigation, and representation before the IRS National Office and Treasury Department for more than 25 years. In his international activities, he works with public and private companies in biotech, electronics, computers, pharmaceuticals, transportation, autos, equipment and apparel manufacturing, entertainment, and inter-company pricing, and with families concerning their international investments. Nationally known as an authority on tax-deferred exchanges, he concentrates on real estate, personal property and multi-asset exchanges, and also co-authored the BNA Tax Management Portfolio: U.S. Income Tax Treaties—The Limitation on Benefits Article. A former Assistant Branch Chief in the Litigation Division at the IRS National Office, he has represented a broad spectrum of domestic and foreign clients in tax audits, appellate proceedings and in the U.S. Tax Court. He has been Adjunct Professor in the LL.M. (Taxation) Programs at Georgetown University Law Center and The George Washington University School of Law. A former chairman of the Sales, Exchanges & Basis Committee of the ABA Tax Section and its Subcommittee on Like-Kind Exchanges, he has also co-chaired subcommittees on U.S. Activities of Foreigners and Tax Treaties.

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About BNA®
BNA is a leading publisher of print and electronic news, analysis, and reference products, including the recently launched Accounting Policy & Practice Series.  BNA publications intensely cover legal and regulatory developments for professionals in business and government. BNA is the oldest wholly employee-owned company in the United States, and produces more than 350 news and information services — including Daily Labor Report and Daily Tax Report — widely respected for comprehensive and objective reporting and analysis.

For more information, contact Mark Carrington, BNA Tax & Accounting, at 202.530.1728.