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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


 


The information below falls in line with the recent trend that the IRS has taken on granting extension for Natural Disasters.

45 and 180 Day Extensions in Certain Georgia and Alabama Counties for Tornadoes and Storms*

Please see the IRS announcements below for: (1) Sumter county in Georgia, and (2) Coffee, Dale, Dallas, Henry, Montgomery and Wilcox counties in Alabama.

All of the following criteria must be met to get the extension:

  1. The taxpayer is located in one of the specified counties, regardless of where the relinquished property or replacement property is located, or the taxpayer otherwise has difficulty meeting the exchange deadlines under the conditions in Revenue Procedure 2005-27, 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 1-2, 2007 for Sumter county, Georgia; and
    March 1, 2007 for the Alabama counties.
  3. The 45 and 180 day deadline falls between these dates and APRIL 30TH.

The extension is for THE LONGER OF 120 days from the last day of the 45 or 180 day deadline, or until the date specified in (3) above (and 120 days appears to be longer since the date in (3) is less than 120 days from the declared disasters).

Please see the notices below for further details. Click on the IRS website links.
http://www.irs.gov/newsroom/article/0,,id=108362,00.html

*Information source FEA