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.
Modoc County
Disaster date beginning February 21, 2023.
General postponement date is August 15, 2023.
Broward County
Disaster date beginning April 12 to April 14, 2023.
General postponement date is August 15, 2023.
McClain and Pottawatomie counties.
Disaster date beginning April 19 to April 20, 2023.
General postponement date is August 31, 2023.
Allen, Benton, Clinton, Grant, Howard, Johnson, Lake, Monroe, Morgan, Owen, Sullivan, and White counties.
Disaster date beginning March 31 to April 1, 2023.
General postponement date is July 31, 2023.
Cannon, Hardeman, Hardin, Haywood, Lewis, Macon, McNairy, Rutherford, Tipton, and Wayne counties.
Disaster date beginning March 31 to April 1, 2023.
General postponement date is July 31, 2023.
Cross, Lonoke, and Pulaski counties.
Disaster date beginning March 31, 2023.
General postponement date is July 31, 2023.
Carroll, Humphreys, Monroe, and Sharkey counties.
Disaster date beginning March 24, 2023.
General postponement date is July 31, 2023.
Alpine, Amador, Butte, Calaveras, Del Norte, El Dorado, Fresno, Glenn, Humboldt, Imperial, Inyo, Kern, Kings, Lake, Los Angeles, Madera, Mariposa, Mendocino, Merced, Mono, Monterey, Napa, Nevada, Orange, Placer, Plumas, Sacramento, San Benito, San Bernardino, San Francisco, San Joaquin, San Mateo, San Luis Obispo, Santa Barbara, Santa Clara, Santa Cruz, Sierra, Sonoma, Stanislaus, Trinity, Tulare, Tuolumne, and Yuba counties.
Disaster date began March 9, 2023.
General postponement date is October 16, 2023.
Alameda, Alpine, Amador, Butte, Calaveras, Colusa, Contra Costa, Del Norte, El Dorado, Fresno, Glenn, Humboldt, Inyo, Los Angeles, Madera, Marin, Mariposa, Mendocino, Merced, Monterey, Napa, Nevada, Placer, Sacramento, San Benito, San Joaquin, San Luis Obispo, San Mateo, Santa Barbara, Santa Clara, Santa Cruz, San Diego, San Francisco, Siskiyou, Solano, Sonoma, Stanislaus, Sutter, Tehama, Trinity, Tulare, Tuolumne, Ventura, and Yolo counties.
Disaster date began December 27, 2022.
This news release has been updated to change the filing and payment deadlines from May 15, 2023 to October 16, 2023.
Butts, Crisp, Henry, Jasper, Meriwether, Newton, Pike, Spalding, and Troup counties.
Disaster date began January 12, 2023.
This news release has been updated to change the filing and payment deadlines from May 15, 2023 to October 16, 2023.
Autauga, Barbour, Chambers, Conecuh, Coosa, Dallas, Elmore, Greene, Hale, Mobile, Morgan, Sumter and Tallapoosa counties.
Disaster date began January 12, 2023.
This news release has been updated to change the filing and payment deadlines from May 15, 2023 to October 16, 2023
Alameda, Colusa, Contra Costa, El Dorado, Fresno, Glenn, Humboldt, Kings, Lake, Los Angeles, Madera, Marin, Mariposa, Mendocino, Merced, Mono, Monterey, Napa, Orange, Placer, Riverside, Sacramento, San Benito, San Bernardino, San Diego, San Francisco, San Joaquin, San Luis Obispo, San Mateo, Santa Barbara, Santa Clara, Santa Cruz, Solano, Sonoma, Stanislaus, Sutter, Tehama, Tulare, Ventura, Yolo, and Yuba counties.
Disaster date began January 8, 2023.
General postponement date is May 15, 2023.
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