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:

  1. 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;

  2. AND

  3. 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