Tax News
Post details: Hurricane Victims Get Additional Year to Use Primary Residence Sale Exclusion (IR-2007-134)
08/01/07
Hurricane Victims Get Additional Year to Use Primary Residence Sale Exclusion (IR-2007-134)
CCH (cch.taxgroup.com) reports:
The IRS has granted the victims of Hurricanes Katrina, Rita and Wilma an additional year in which to use the primary residence gain exclusion for gain from the sale of vacant land that had been used as a principal residence. Victims of these of these hurricanes will now have three years from the date of the destruction of their principal residence in which to sell the vacant land and exclude the gain.
Additional and further information is available from the IRS on their website at irs.gov.
IR-2007-134, 2007FED ¶46,567
Other References:
Code Sec. 121
CCH Reference - 2007FED ¶7266.022
CCH Reference - 2007FED ¶7266.27
Tax Research Consultant
CCH Reference - TRC PLANIND: 12,054.05
CCH Reference - TRC REAL: 15,158
Tax News
Daily Tax News
| Mon | Tue | Wed | Thu | Fri | Sat | Sun |
|---|---|---|---|---|---|---|
| << < | > >> | |||||
| 1 | 2 | 3 | 4 | 5 | 6 | |
| 7 | 8 | 9 | 10 | 11 | 12 | 13 |
| 14 | 15 | 16 | 17 | 18 | 19 | 20 |
| 21 | 22 | 23 | 24 | 25 | 26 | 27 |
| 28 | 29 | 30 | 31 | |||
Search
Categories
Archives
- District of Columbia --Corporate and Personal Income, Sales and Use Taxes: Second FY 2010 Budget Support Approved
- Tax Court Lacked Jurisdiction Where Deficiency Notice Not Mailed to Estate's Last Known Address (Rule Est., TCM)
- Return Preparers Permitted Certain Disclosures to Solicit New Business and to Professional Liability Insurance Carriers (IR-2009-121; Rev. Rul. 2010-4; Rev. Rul. 2010-5)
- Regulations Address Disclosure and Use of Return Information (T.D. 9478; NPRM REG-131028-09)
- Final, Temporary and Proposed Regulations Address the Use of Controlled Corporations to Avoid Application of Code Sec. 304 (T.D. 9477; NPRM REG-132232-08)
- Ohio --Sales and Use Tax: Sourcing Changes Explained
- London International Financial Futures and Options Exchange Recognized as Qualified Board or Exchange (Rev. Rul. 2010-3)
- Guidance on Elective Exclusion From Code Sec. 956 Obligation Definition, Determination of Readily Marketable Securities, Extended (Notice 2010-12)
- Temporary Suspension of AHYDO Rules Extended to 2010 (Notice 2010-11)
- Illinois --Sales and Use Tax: Airline's Second Refund Claim Barred by Statute of Limitations
- Florida --Sales and Use Tax: County Denied Injunctive Relief Against On-line Travel Companies for Collection of Tourist Development Taxes
- Extended Statute of Limitations for Assessment Applied upon Failure to Disclose Son-of-Boss Partnership Transaction; Disclosure Regulations Not Invalid (BLAK Investments, TC)
- more...
Misc
Syndicate this blog 
What is RSS?
powered by
Original template design by François PLANQUE.
