If you are in the unfortunate situation of being affected by a federally declared natural disaster, please contact your 1031 CORP. Exchange Officer immediately. Under Revenue Procedure 2018-58, you may qualify for an extension to your 45-Day Identification and 180-Day Exchange Period deadlines. Extensions are not automatic and they do not apply to state or local states of emergency or all federally declared 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.
Extensions apply to reverse and delayed exchanges and provide the greater of either a 120 day extension or until the specific deadline date provided in the extension.
Taxpayers that may qualify for an extension are defined as follows: (a) An “affected taxpayer” as defined in IRC section 301.7508A-1(d)(1) of the Procedure and Administration Regulations; OR (b) Has difficulty meeting the 45-day identification or 180-day exchange deadlines for the following or similar reasons:
The extension also applies to relief workers affiliated with recognized charities and government agencies assisting in the affected area.
Note it is imperative that you notify your 1031 CORP. Exchange Officer if you are affected by a federally declared disaster because it is impossible for us know, especially if the disaster area is not where your exchange properties are located.
The IRS disaster help line is 1-866-562-5227.
San Diego County qualifies for tax relief.
The disaster date began on January 21, 2024.
The general postponement date is June 17, 2024.
Eaton, Ingham, Ionia, Kent, Livingston, Macomb, Monroe, Oakland, and Wayne counties, qualify for tax relief.
The disaster date began on August 24, 2023.
The general postponement date is June 17, 2024.
Boone, Calhoun, Clay, Harrison, Kanawha, and Roane counties, qualify for tax relief.
The disaster date began on August 28, 2023.
The general postponement date is June 17, 2024.
Androscoggin, Franklin, Hancock, Kennebec, Oxford, Penobscot, Piscataquis, Somerset, Waldo, and Washington counties, qualify for tax relief.
The disaster date began on December 17, 2023.
The general postponement date is June 17, 2024.
Providence County qualifies for tax relief.
The disaster date began on September 10, 2023.
The general postponement date is June 17, 2024.
New London County, and the Tribal Nations of Mohegan and Mashantucket Pequot qualify for tax relief.
The disaster date began on January 10, 2024.
The general postponement date is June 17, 2024.
Cheatham, Davidson, Dickson, Gibson, Montgomery, Stewart, and Sumner counties qualify for tax relief.
The disaster date began on December 9, 2023.
The general postponement date is June 17, 2024.
Individuals and households affected by elevated levels of lead and copper that reside or have a business in St. Croix qualify for tax relief.
The general postponement date is February 29, 2024.
Agrihan, Alamagan, Pagan, Rota, Saipan, and Tinian islands qualify for tax relief.
The disaster date began on October 17, 2023.
The general postponement date is February 15, 2024.
Jefferson, Orleans, Plaquemines, St. Bernard and St. Mary parishes qualify for tax relief.
The disaster date began on September 20, 2023.
The general postponement date is February 15, 2024.
Androscoggin, Aroostook, Cumberland, Franklin, Hancock, Kennebec, Knox, Lincoln, Oxford, Penobscot, Piscataquis, Sagadahoc, Somerset, Waldo, Washington, and York counties qualify for tax relief.
The disaster date began on September 15, 2023.
The general postponement date is February 15, 2024.
Barnstable, Berkshire, Bristol, Dukes, Essex, Franklin, Hampden, Middlesex, Nantucket, Norfolk, Plymouth, Suffolk and Worcester counties qualify for tax relief.
The disaster date began on September 15, 2023.
The general postponement date is February 15, 2024.
All 46 counties in South Carolina qualify.
The disaster date began on August 29, 2023.
The general postponement date is February 15, 2024.
All 46 counties in South Carolina qualify.
The disaster date began on August 29, 2023.
The general postponement date is February 15, 2024.
Alachua, Baker, Bay, Bradford, Brevard, Calhoun, Charlotte, Citrus, Clay, Collier, Columbia, DeSoto, Dixie, Duval, Flagler, Franklin, Gadsden, Gilchrist, Gulf, Hamilton, Hardee, Hernando, Hillsborough, Jefferson, Lafayette, Lake, Lee, Leon, Levy, Liberty, Madison, Manatee, Marion, Nassau, Orange, Osceola, Pasco, Pinellas, Polk, Putnam, Sarasota, Seminole, St. Johns, Sumter, Suwannee, Taylor, Union, Volusia and Wakulla counties in Florida.
Disaster date that began on August 27, 2023.
The general postponement date is February 15, 2024.
Bering Strait, Copper River, Kuspuk, Lower Kuskokwim, Lower Yukon and Yukon Flats in Alaska.
Disaster date that began on May 12, 2023.
The general postponement date is October 31, 2023.
Maui and Hawaii Counties.
Disaster date that began on August 8, 2023.
The general postponement date is October 15, 2024.
Cook County
Disaster date that began on June 29, 2023.
The general postponement date is October 31, 2023.
Claiborne, Copiah, Covington, Jackson, Jasper, Jefferson, Jefferson Davis, Lawrence, Leake, Neshoba, Newton, Rankin, Scott, Simpson, Smith and Wayne Counties.
Disaster date from June 14, 2023, to June 19, 2023.
The general postponement date is October 16, 2023.
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