Скачать или смотреть 1031 Exchange Extension Update

Just yesterday, the IRS issued guidance extending the time periods for individuals currently in an exchange due to the Coronavirus pandemic. The IRS Notice 2020-23 provides that those performing time-sensitive actions listed in Revenue Procedure 2018-58 due to be performed on or after April 1, 2020 and before July 15, 2020 is an Affected Taxpayer. Revenue Procedure 2018-58 permits the extension of IRC §1031 exchange deadlines.

This is a great step in affording relief to those Exchangors who have been affected, but at this point does not apply to any exchange deadlines prior to April 1, 2020. David Moore will be covering just exactly what that means in this 1031 update, and Equity Advantage will continue to provide additional guidance and clarification as new information comes forward.

Please give us a call and we will be happy to answer any questions you may have as they relate to your situation!

We can be reached at 503-635-1031 or [email protected] now.

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Disclaimer: All my opinions are my own. These statements are not meant to be taken as investment advice.