Small Business Reading Room

Tuesday, March 27, 2007

Escrow Accounts, Trusts, and Other Funds Used During Deferred Exchanges of Like-Kind Property

Did you ever find yourself saying, "Why didn't they ask me before they enacted that new Federal regulation?"

Well, now is your chance to stand up and be heard!

The Department of the Treasury and the Internal Revenue Service are seeking comments on their revised initial regulatory flexibility analysis (IRFA) for the proposed rule “Escrow Accounts; Trusts and Other Funds Used During Deferred Exchanges of Like-Kind Property.”

The Treasury and IRS are seeking specific comments regarding the economic burden these rules may impose on small entities and alternatives that would be less burdensome.

The proposed regulations affect taxpayers that engage in deferred like-kind exchanges and escrow holders, trustees, qualified intermediaries and others that hold funds during deferred like-kind exchanges.

Proposed rule from the Federal Register

Submit Comments to the IRS Electronically

The Federal government’s one stop site to comment on Federal regulations

Don't pass up this chance to tell Uncle Sam how these proposed chances will impact your business. The deadline for written comments is May 4, 2007.

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Small Business Reading Room

Escrow Accounts, Trusts, and Other Funds Used During Deferred Exchanges of Like-Kind Property

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