UPDATED POSTPONEMENT DATE FOR CALIFORNIA
The IRS has issued postponements of the 45-day and 180-day deadlines as follows:
Alabama: Autauga, Barbour, Chambers, Conecuh, Coosa, Dallas, Elmore, Greene, Hale, Mobile, Morgan, Sumter and Tallapoosa counties. The disaster began on January 12, 2023; the General Postponement date is October 16, 2023.
Georgia: Butts, Crisp, Henry, Jasper, Meriwether, Newton, Pike, Spalding, and Troup counties. Disaster date began on January 12, 2023. The General Postponement date is October 16, 2023.
New California Postponement for disaster beginning December 27, 2022: Alameda, Butte, Calaveras, Colusa, Contra Costa, Fresno, Glenn, Humboldt, Los Angeles, Marin, Mendocino, Merced, Monterey, Placer, Sacramento, San Benito, San Joaquin, San Luis Obispo, San Mateo, Santa Barbara, Santa Clara, Santa Cruz, Siskiyou, Sonoma, Trinity, Tulare, Ventura, and Yolo counties. The disaster began on December 27, 2022. The General Postponement date is OCTOBER 16, 2023.
Update to California Postponement for disaster beginning January 8, 2023: Alameda, Colusa, Contra Costa, El Dorado, Fresno, Glenn, Humboldt, Kings, Lake, Los Angeles, Madera, Marin, Mariposa, Mendocino, Merced, Mono, Monterey, Napa, Orange, Placer, Riverside, Sacramento, San Benito, San Bernardino, San Diego, San Francisco, San Joaquin, San Luis Obispo, San Mateo, Santa Barbara, Santa Clara, Santa Cruz, Solano, Sonoma, Stanislaus, Sutter, Tehama, Tulare, Ventura, Yolo, and Yuba. The disaster began on January 8, 2023. The General Postponement date is delayed to OCTOBER 16, 2023.
For more information on who is eligible and what options are available, please see the full notice on the IRS website at: https://www.irs.gov/newsroom/irs-may-15-tax-deadline-extended-to-oct-16-for-disaster-area-taxpayers-in-california-alabama-and-georgia and excerpts from Rev. Proc. 2018-58 found in the attachment below.
Exchangors that are entitled to an extension must advise their Qualified Intermediary that they are eligible for, and want to take advantage of, disaster relief, and what their new exchange deadline(s) are, otherwise the original 45-day and 180-day deadlines will control. Note that accepting the disaster relief extensions will delay return of any unspent exchange funds until after the new deadlines have passed, unless the exchange terminates earlier pursuant to Treasury Regulations Section 1.1031(k)-1(g)(6).
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