1031 exchange:
IRS1031ExchangeLegal

Legal Advice Issued by Field Attorneys

The following list presents documents prepared by Field attorneys in the Office of Chief Counsel that are reviewed by an Associate Office, and subsequently issued to field or service center campus employees of the Internal Revenue Service.

It is important to note that such items cannot be used or cited as precedent.

20051802F Treatment of Certain Losses

20051801F Duplicated Loss.

20051001F Books and Records Income Allocation Method under Section 863.

20050203F Whether the subject sale and acquisition of property qualifies for like-kind exchange treatment under IRC §1031.

20050202F The effect of I.R.C. Sec. 6213(f) on calculations of the last date to file a petition with the Tax Court upon dismissal or discharge from bankruptcy and the statute of limitations date for making an assessment of tax.

20050201F Advisory Opinion on Collection of Taxes.

20044103F Whether a manufacturer using the Inventory Price Index Computation inventory method may properly determine its gross profit margin (to convert its selected BLS indexes to cost price indexes) using data from a selected month rather than data from the entire year (UILC 472.09-00).

20044102F Has a taxpayer engaged in a valid purchase of replacement property, as described in Sec.1033(a)(2)(A), for an involuntarily converted timber cutting contract with the U.S. Forest Service (UILC 1033.00-00).

20044101F Is a pipeline that is part of a crude oil gathering system of like-kind, within the meaning of Sec. 1031(a), to property for which it was exchanged (UILCs 1031.01-00 and 1031.02-00).

20043103F Whether the permissible variation of the simplified resale method, set forth in Treas. Reg. Sec. 1.263A-3(d)(3)(iii)(B), requires annual increases to the total cumulative amounts of storage and handling costs capitalized to existing LIFO layers (UILCs 263A.04-00, 472.08-00).

20043102F Compliance with Placed-in-Service and Written Binding Contract Rules (UILC 9999.98-00).

20043101F Failure to timely file annual certifications and waivers in connection with a gain recognition agreement (UILCs 367.03-14, 6038B.03-00).

20042903F Mobile Machinery Exception to Definition of Highway Vehicle (UILC 4041.04-02).

20042902F A challenge in state probate court of a final Tax Court decision which provides that a spouse is relieved from joint and several liability for income taxes (UILC 9999.98-00).

20042901F The manner in which taxpayers recompute their federal tax liability following the carryback of a NOL that is not fully absorbed in the carryback year (UILC 172.00-00).

20042308F Valuation of a greater-than-10-percent corporate partnership for purposes of apportioning a partner’s interest expense incurred outside of the partnership (UILC 861.09-00).

20042307F A determination of whether or not the taxpayers were responsible for taxes and a civil penalty owed by their partnership.

20042306F Evaluation of taxpayers' compliance with placed-in-service and written binding contract requirements.

20042305F A determination of whether or not the transaction at issue gave rise to a currently taxable event under I.R.C. § 1259 and Rev. Rul. 2003-7.

20042304F The proper treatment of a sales discount in the context described therein.

20042303F Issues relating to the ownership of a depreciable interest (UILC 167.15-00) and the limitations on casualty and theft losses of individuals (UILC 165.04-00).

20042302F Timing of loss for expenditures to provide payphone access to disabled individuals.

20042301F Extraterritorial income exclusion.

20040303F Computation of tax where taxpayer makes payment to settle pending lawsuits (I.R.C. 1341).

20040302F Treatment of investigatory expenses incurred in starting up a business (I.R.C. 195).

20040301F Treatment of advances as a preferred class of equity in the context of a complete liquidation of a subsidiary (I.R.C. 332).

20032902F Deductibility of compensation expenses attributable to stock options awarded to expatriate employees; IRC Sections 83 and 162.

20032901F Allocation of the Section 6707 penalty among co-promoters.

20032601F I.R.C. § 6694 Penalty; U.I.L. Nos. 6694.01-00 and 6694.02-00.

20032401F Foreign Tax Credit Implications in Ownership-FSC Transactions.

20031901F TEFRA statute of limitations for assessments of tax with respect to partnership adjustments.

20031501F Deductibility of Insurance Premiums; Premiums as Constructive Dividends to Insured/Other Shareholders; Deferred Compensation or Dividends/Sale of Stock/Installment Redemption.

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