 |

Call (800) 735-1031 or click here
to begin the process immediately!


|
 |
|
Timeline Extension for March Storms in Arkansas
Timeline Extension for March Storms in Missouri
Timeline Extension for March Storms in Georgia
Revenue Procedure for Exchanging Vacation Homes
Timeline Extension for January Storms in Illinois Counties
Timeline Extension for June storms in Oklahoma
Timeline Extension for June storms in Kansas
Timeline Extension for Natural Disaster in Texas
Timeline Extension for May 5th Storm in Missouri
South Dakota: 1031 Exchange Timeline Extension announced on 5/25/07 by the IRS
Timeline Extension for Natural Disaster in Kansas
Revised Timeline Extension for Natural Disaster in five New Hampshire counties and six New Jersey counties
Timeline Extension for Natural Disaster in New Mexico
45 and 180 Day Extensions in Certain Georgia and Alabama Counties for Tornadoes and Storms
Timeline Extension for Natural Disaster in Louisiana |

Timeline Extension for March Storms in Arkansas - 45 and 180 Day Extensions for Arkansas Counties
The IRS has issued an extension Notice for the following Arkansas counties for storms on March 18th: Baxter, Benton, Independence, Jackson, Lawrence, Logan, Madison, Marion, Randolph, Stone and Woodruff. [Note that the IRS may add additional counties later as FEMA adds counties. If you are near the affected area, you should check the disaster announcement website for updates. The FEA will not issue announcements if more counties are added.]
Both of the following criteria must be met to get the extension under Revenue Procedure 2007-56, section 17:
- The taxpayer is located in one of these counties or is otherwise an affected taxpayer as defined in the Notice, regardless of where the relinquished property or replacement property is located, or otherwise has difficulty meeting the exchange deadlines under the conditions in Revenue Procedure 2007-56, section 17;
AND
- The relinquished property was transferred (or the parked property was acquired by the EAT in a reverse exchange under Revenue Procedure 2000-37) on or before March 18, 2008.
IF the taxpayer meets these criteria, THEN any 45 day or 180 day deadline that falls within the period on or after March 18, 2008 through May 27, 2008, is extended to the later of May 27, 2008, or 120 days from such deadline. It is unclear from the guidance if 180 day deadlines falling after May 27, 2008 are also extended.
Please see Revenue Procedure 2007-56, Section 17, and the notice below for further details.
http://www.irs.gov/newsroom/article/0,,id=108362,00.html
*Information Source FEA |
 |