My accountant failed to file extension for 1031 and now I am disqualified for it. What my option and what should I do?
Asked on 3/30/10, 3:44 pm
1 Answer from Attorneys
Ronald Cappuccio
Ronald J. Cappuccio, J.D., LL.M.(Tax)
Unfortunately, the 1031 exchange time limits are mandantory. Did you have the money deposited with a qualified intermediary?
SInce these matters are fact intesive, you should immediately call a tax lawyer.
I hope this helps!
Ron Cappuccio
856 665-2121
www.TaxEsq.com
Answered on 4/09/10, 6:40 pm
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