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.
Boone, Brooke, Doddridge, Gilmer, Hancock, Kanawha, Lincoln, Marshall, Ohio, Roane, Tyler, Wetzel, and Wood counties qualify for tax relief.
The disaster date began on April 11, 2024.
The general postponement date is November 1, 2024.
Hancock, Hinds, Humphreys, Madison, Neshoba, and Scott counties qualify for tax relief.
The disaster date began on April 8, 2024.
The general postponement date is November 1, 2024.
Buena Vista, Cherokee, Clay, Dickinson, Emmet, Lyon, O'Brien, Osceola, Plymouth, Sioux, and Woodbury counties qualify for tax relief.
The disaster date began on June 16, 2024.
The general postponement date is November 1, 2024.
Lincoln and Otero counties and on lands of the Mescalero Apache Tribe qualify for tax relief.
The disaster date began on June 17, 2024.
The general postponement date is November 1, 2024.
Baker, Gadsden, Hamilton, Jefferson, Lafayette, Leon, Liberty, Madison, Santa Rosa, Suwannee, Taylor, and Wakulla counties qualify for tax relief.
The disaster date began on May 10, 2024.
The general postponement date is November 1, 2024.
Blaine, Caddo, Cluster, Delaware, Jackson, Mayes, Muskogee, and Rogers counties qualify for tax relief.
The disaster date began on May 19, 2024.
The general postponement date is November 1, 2024.
Baxter, Benton, Boone, Carroll, Fulton, Greene, Madison, Marion, Nevada, Randolph, and Sharp counties qualify for tax relief.
The disaster date began on May 24, 2024.
The general postponement date is November 1, 2024.
Boone, Brooke, Cabell, Fayette, Hancock, Kanawha, Lincoln, Marshall, Nicholas, Ohio, Preston, Putnam, Tyler, Wayne, and Wetzel counties qualify for tax relief.
The disaster date began on April 2, 2024.
The general postponement date is November 1, 2024.
Boyd, Carter, Fayette, Greenup, Henry, Jefferson, Jessamine, Mason, Oldham, Union, and Whitley counties qualify for tax relief.
The disaster date began on April 2, 2024.
The general postponement date is November 1, 2024.
Adair, Montgomery, Polk, and Story counties qualify for tax relief.
The disaster date began on May 20, 2024.
The general postponement date is November 1, 2024.
Bell, Calhoun, Collin, Cooke, Denton, Eastland, Guadalupe, Hardin, Harris, Henderson, Jasper, Jones, Lamar, Liberty, Montague, Montgomery, Polk, San Jacinto, Trinity, Tyler, Walker, and Waller counties qualify for tax relief.
The disaster date began on April 26, 2024.
The general postponement date is November 1, 2024.
Clarke, Harrison, Mills, Polk, Pottawattamie, Ringgold, Shelby, and Union counties qualify for tax relief.
The disaster date began on April 26, 2024.
The general postponement date is October 15, 2024.
Auglaize, Crawford, Darke, Delaware, Hancock, Licking, Logan, Mercer, Miami, Richland, and Union counties qualify for tax relief.
The disaster date began on March 14, 2024.
The general postponement date is September 3, 2024.
Boone, Douglas, Greeley, Howard, Sherman, and Washington counties qualify for tax relief.
The disaster date began on April 25, 2024.
The general postponement date is September 3, 2024.
Carter, Coal, Cotton, Craig, Haskell, Hughes, Johnston, Kay, Lincoln, Love, McClain, Murray, Nowata, Okfuskee, Okmulgee, Osage, Ottawa, Pittsburg, Pontotoc, Pottawatomie, Tillman, Washington, and Washita counties qualify for tax relief.
The disaster date began on April 25, 2024.
The general postponement date is September 3, 2024.
Cumberland, Hancock, Knox, Lincoln, Sagadahoc, Waldo, Washington, and York counties qualify for tax relief.
The disaster date began on January 9, 2024.
The general postponement date is July 15, 2024.
Kent, Newport, Providence, and Washington counties qualify for tax relief.
The disaster date began on December 17, 2023.
The general postponement date is July 15, 2024.
Wrangell Cooperative Association of Alaska Tribal Nation, qualify for tax relief.
The disaster date began on November 20, 2023.
The general postponement date is July 15, 2024.
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