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1031 Exchange
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Enter New Glossary Term:
Safe Harbor
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Enter Glossary Term Description:
A provision in the Tax Code that gives a taxpayer protection as long as the requirements to comply with the code are met. There are four types of safe harbors:
1) A safe harbor which provides the taxpayer with methods to obtain security on exchange funds,
2) A safe harbor which provides for qualified escrow accounts and trusts,
3) A safe harbor which establishes the use of a Qualified Intermediary (QI), and
4) A safe harbor that provides a way for the taxpayer to receive a growth factor on exchange funds. |
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