If you are in the unfortunate situation of being affected by the wildfires in Oregon, we send our heartfelt condolences to you. The Oregon wildfires are now a federally declared natural disaster, currently affecting those in Clackamas, Douglas, Jackson, Klamath, Lane, Lincoln, Linn and Marion counties.Read More
Today we are thankful for Revenue Procedure 2005-27, which provides extensions to your 45-day identification and 180-day exchange period deadlines in the unfortunate event that you are affected by a Presidentially declared disaster. Extensions are not automatic and they do not apply to state or local states of emergency or all federal disasters. IRS issues a Notice or News Release listing the affected areas. A list of affected areas can be found on Tax Relief in Disaster Situation page on the IRS website.