[WSBARP] PRESIDENTIALLY DECLARED DISASTER EXTENSIONS FOR 1031 EXCHNAGES
Kary Krismer
Krismer at comcast.net
Sat Mar 28 12:59:14 PDT 2020
It sounds like Rev. Proc. 2005-27 is not self executing, but requires
the IRS to act and specify what's delayed.
"This revenue procedure does not, by itself, provide any postponements
under section 7508A. In order for taxpayers to be entitled to a
postponement of any act listed in this revenue procedure, the IRS
generally will publish a Notice or issue other guidance (including an
IRS News Release) providing relief with respect to a Presidentially
[sic?] declared disaster, or a terroristic [sic?]or military action."
There's more on 1031's specifically mentioned. FWIW, Washington
Realtors thinks nothing has been done yet.
https://www.irs.gov/pub/irs-drop/rp-05-27.pdf
Kary L. Krismer
206 723-2148
On 3/28/2020 10:06 AM, Bryce Dille wrote:
> Rev. Procedure 2005-27
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