The U.S. IRS and Treasury have issued final regulations on Statutory Limitations on Like-Kind Exchanges (TD 9935), which were published in the Federal Register on 2 December 2020. The final regulations generally apply for exchanges from 2 December 2020, while taxpayers are allowed to rely on the proposed version of the regulations (REG-117589-18), if followed consistently and in their entirety, for exchanges of real property beginning after 31 December 2017, and before 2 December 2020.
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