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Updated over 4 years ago,
Natalie KolodijPoster
Tax & Financial Services
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- Charlotte, NC
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1031 Exchange Deadline EXTENDED
IRS Released Notice 2020-23 which basically extended ...everything left that was due before 7/15...to 7/15.
Additionally, It included some wording that referenced back to an IRS rev Proc 2018-58 which was released a few years ago to handle a national disaster timelines. One of the items it addresses are "time sensitvie" exchanges including 1031 exchanges.
So if you currently have a 1031 OR a QOZ transaction where the deadline is between 4/1/2020 and 7/15/2020
Your deadline is now 7/15/2020
Kolodij Tax & Consulting