45 and 180 Day Extensions: OK, MN, ND, GA, IN, AR, FL
Oklahoma Counties:The IRS has issued an extension Notice for the following Oklahoma counties (the Covered Disaster Area) for the floods on February 10, 2009: Carter, Logan and Oklahoma [Note that the IRS may add additional areas later as FEMA adds them. If you are near the Covered Disaster Area, you should check the disaster announcement website for updates.
The FEA will not issue announcements if more areas 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 the Covered Disaster Area 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
(2) 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 February 10, 2009.
IF the taxpayer meets these criteria, THEN any 45 day or 180 day deadline that falls on or after the above date, is extended to the later of May 11, 2009, or 120 days from such deadline.
Minnesota Counties:The IRS has issued an extension Notice for the following Minnesota counties (the Covered Disaster Area) for the floods on March 16, 2009: Clay, Norman, Traverse [Note that the IRS may add additional areas later as FEMA adds them. If you are near the Covered Disaster Area, you should check the disaster announcement website for updates. The FEA will not issue announcements if more areas 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 the Covered Disaster Area 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
(2) 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 16, 2009.
IF the taxpayer meets these criteria, THEN any 45 day or 180 day deadline that falls on or after the above date, is extended to the later of May 15, 2009, or 120 days from such deadline.
North Dakota Counties:The IRS has issued an extension Notice for the following North Dakota counties (the Covered Disaster Area) for the floods on March 24, 2009 (note the notice uses March 13th in some places): Adams, Barnes, Billings, Burleigh, Cass, Dickey, Emmons, Foster, Grand Forks, Griggs, Hettinger, Kidder, LaMoure, Logan, McIntosh, Mercer, Morton, Nelson, Ransom, Richland, Sargent, Steele, Stutsman, Towner, Traill and Williams [Note that the IRS may add additional areas later as FEMA adds them. If you are near the Covered Disaster Area, you should check the disaster announcement website for updates. The FEA will not issue announcements if more areas 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 the Covered Disaster Area 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
(2) 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 24, 2009 (note the notice appears to use March 13th in some places).
IF the taxpayer meets these criteria, THEN any 45 day or 180 day deadline that falls on or after the above date, is extended to the later of May 15, 2009, or 120 days from such deadline.
Georgia Counties:The IRS has issued an extension Notice for the following Georgia counties (the Covered Disaster Area) for the floods on April 23, 2009: Berrien, Brantley, Brooks, Coffee, Colquitt, Decatur, Dougherty, Echols, Lanier, Lowndes, Miller, Mitchell, Pierce, Tift, Ware, Wheeler and Worth [Note that the IRS may add additional areas later as FEMA adds them. If you are near the Covered Disaster Area, you should check the disaster announcement website for updates. The FEA will not issue announcements if more areas 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 the Covered Disaster Area 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
(2) 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 April 23, 2009.
IF the taxpayer meets these criteria, THEN any 45 day or 180 day deadline that falls on or after the above date, is extended to the later of May 25, 2009, or 120 days from such deadline.
Indiana Counties:The IRS has issued an extension Notice for the following Indiana counties (the Covered Disaster Area) for the floods on March 8, 2009: Allen, Carroll, De Kalb, Fulton, Jasper, Kosciusko, Lake, La Porte, Marshall, Noble, Pulaski, White and Whitley [Note that the IRS may add additional areas later as FEMA adds them. If you are near the Covered Disaster Area, you should check the disaster announcement website for updates. The FEA will not issue announcements if more areas 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 the Covered Disaster Area 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
(2) 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 8, 2009.
IF the taxpayer meets these criteria, THEN any 45 day or 180 day deadline that falls on or after the above date, is extended to the later of May 7, 2009, or 120 days from such deadline.
Arkansas Counties:The IRS has issued an extension Notice for the following Arkansas counties (the Covered Disaster Area) for the floods on April 9, 2009: Miller, Polk and Sevier. [Note that the IRS may add additional areas later as FEMA adds them. If you are near the Covered Disaster Area, you should check the disaster announcement website for updates. The FEA will not issue announcements if more areas 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 the Covered Disaster Area 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
(2) 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 April 9, 2009.
IF the taxpayer meets these criteria, THEN any 45 day or 180 day deadline that falls on or after the above date, is extended to the later of June 8, 2009, or 120 days from such deadline.
Florida Counties:The IRS has issued an extension Notice for the following Florida counties (the Covered Disaster Area) for the floods on March 26, 2009: Calhoun, Hamilton, Holmes, Jackson, Lafayette, Liberty, Madison, Okaloosa, Santa Rosa, Suwannee, Walton and Washington [Note that the IRS may add additional areas later as FEMA adds them. If you are near the Covered Disaster Area, you should check the disaster announcement website for updates. The FEA will not issue announcements if more areas 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 the Covered Disaster Area 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 26, 2009.
IF the taxpayer meets these criteria, THEN any 45 day or 180 day deadline that falls on or after the above date, is extended to the later of May 26, 2009, or 120 days from such deadline.
*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
