Summer 2000, Vol 25, No 2

Abstract: The sardonic phrase, “de ja vu all over again,” seems to be most apropos, given that the author has argued on prior occasions that we should change the tax-deferred exchange rules by simplifying the process to defer gain when we “sell” and reinvest the proceeds from the “sale.” This manuscript focuses on the risks a taxpayer takes when undertaking an exchange, with escrow, where the escrow party (intermediary) defaults.