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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


 


South Dakota: 1031 Exchange Timeline Extension announced on 5/25/07 by the IRS:

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 South Dakota Counties for May 4th Storms


On May 25, 2007, the IRS issued the announcement below for Beadle, Brown, Clark, Davison, Hanson, Hutchinson, Miner, Sanborn, Spink and Yankton counties in South Dakota.
All of the following criteria must be met to get the extension:

  • The taxpayer is located in one of these 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
  • 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 May 4, 2007;
  • The 45 or 180 day deadline falls between May 4, 2007 and July 23, 2007.
The extension is for THE LONGER OF 120 days from the last day of the 45 or 180 day deadline, or until July 23, 2007 (and 120 days is longer since July 23 is less than 120 days from the declared disaster).

Please see the notice below for further details.

http://www.irs.gov/newsroom/article/0,,id=108362,00.html