The IRS has announced tax relief for victims of the 2007 California wildfire disaster that includes the extension of 1031 exchange deadlines or due dates if the deadline begins on or after October 21, 2007.
Your 45 calendar day identification period and your 180 calendar day 1031 exchange deadline will be extended to January 31, 2008 as long as your are located in one of the affected seven (7) Southern California counties.
You can read the full IRS press release at http://www.exeterco.com/news_irs_issues_tax_relief_2007_california_fire_victims.aspx for complete details.
Saturday, November 03, 2007
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