Recent IRS Disaster Notices Extend 1031 Deadlines

March 10, 2023

It’s been raining a lot and not only might the drought be over, but the IRS is extending 1031 deadlines …

Anyone who has divested an investment property is familiar with the pressure to identify the replacement property in a short 45 day window. But this year, due to disasters in California driven by the weather, the IRS is extending not only the filing deadline for taxes but the time allowed to identify a replacement property until October. This will allow purchasers to do more due diligence as well as potentially take advantage of interest rates that may be lower later in the year. And, of course, if you have a property you are thinking of selling, I’d be happy to set up a time to chat about it!

For more information on the extension you can find the IRS disaster notices here and you can find a full article on our website here.