How Can I Get An Extension For My 45 Day ID Period?

I hear this question virtually each and everyday. It's usually in a state of panic because the 1031 exchange investor is running out of time to identify his or her replacement property.

The 45 calendar day deadline to identify replacement property is a very short period of time and can be difficult, so 1031 exchange clients should start looking for replacement properties as soon as they know they are going to sell and structure a 1031 exchange.

Tax Deferred Exchange Due Dates Are Law; Not Regulations

Unfortunately, there is no way to get an extention of time for your 1031 exchange deadlines or due dates, unless you or the subject property is affected by a natural disaster such as a fire, flood, hurricane, etc.

The 1031 exchange deadlines or due dates are actually part of the tax code (laws) and are not part of the IRS Regulations (i.e. Section 1031 of the Internal Revenue Code), and can not be extended without an act of Congress. The IRS does not even have the ability to grant an extension, alter or postpone the 45 or 180 calendar day deadlines.