April 13, 2020

IRS Extends Deadlines for 1031 Exchanges

On April 9th, the IRS issued Notice 2020-23 , an update to Notice 2020-18, “Additional Relief for Taxpayers Affected by Ongoing Coronavirus Disease 2019 Pandemic.”  This Notice extends the 45-day identification period and the 180-day exchange period for taxpayers engaged in a 1031 Exchange whose deadlines were April 1, 2020 and after. The affected deadlines have been extended until July 15, 2020 .  Unfortunately, the extension does not apply to Exchangers whose 45-day identification deadline and 180-day exchange period occurred before April 1, 2020. 

CATIC Exchange will continue to monitor any developments and keep you up-to-date as we learn more. If you have any questions, please contact Al Caporale at [email protected] or 860-227-4837.

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Please continue to check out our dedicated webpage for COVID-19 information and guidance, on a regular basis. We will be updating the material as we learn of new developments.