A Quick Look At: The Eminent Domain Process
Losing your real estate due to condemnation stinks, and your attorney fought hard to win you the highest value possible. However, incurring a tax liability would only make things worse and your fight is not over. IRC Section 1033 exists to help taxpayers avoid paying taxes due to eminent domain. Request a copy of our White Paper here and find out what you can do. Tax implications of any exchange can be significant, and you should always consult a tax professional.
If you have any questions regarding the eminent domain process, or any other related matter please give Exclusive Financial Resources a call or schedule a 15-minute discussion here.