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Marc Wieder, a partner and co-leader of the real estate practice for New York accounting firm Anchin, said the Biden Administration’s early success in getting stimulus measures passed likely has moved up the timetable for wrestling with complex tax issues such as 1031 exchanges.

“Everyone is worried about it, but the fact of the matter is, there isn’t much you can do about it,” he said. “If they are going to eliminate it, then if you are really thinking of selling a property, you better get going. The way Covid has driven down values, though, many people aren’t anxious to sell.”

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