COVID-19 1031 Exchange Deadline Extensions
On April 9, the IRS issued Notice 2020-23, extending a variety of deadlines, including 1031 deadlines. Although the Notice is confusing, because it is not written like the typical Disaster Relief Notices, this Notice extends any 45-day or 180-day deadline that occurs between April 1 and July 14, to July 15, 2020.
COVID-19 Extensions
-April 9th IRS notice released
-NOT follow typical Disaster Relief 1031 Extensions: broad & confusing
-EXTENDS: deadlines to July 15 if either identity or close on a property between April 1 and July 15
-This may not be the final draft of this notice.
Was your 1031 exchange transaction affected by the Coronavirus?