No Change as IRS Finally Clarifies COVID-19 Disaster Relief for 1031 Exchanges (8/11/20)
Important information for our IPX1031 customers and 1031 community regarding 1031 fund safety and IRS deadlines during this unique moment in time. We are a phone call or email away if there is anything we can help you with or if you have any questions. And be sure to check out our COVID-19 1031 Exchange FAQs.
As so many of you are, all of us at Investment Property Exchange Services, Inc. (IPX1031) are closely monitoring the latest developments regarding COVID-19 (Coronavirus) in the United States and abroad to help ensure the health and safety of our employees, business partners, and the consumers we serve every day. We also recognize that you are relying upon our ability to continue to provide 1031 Exchange services, even during these uncertain times. Since our operations have been “paperless” for many years, our employees are able to work remotely. As a result, we do not anticipate any adverse impact to normal customer service operations or the security we provide.
(8/11/20) The IRS finally published clarification that the 120 day extensions available for typical disaster relief DO NOT APPLY to the COVID-19 disaster relief granted in Notice 2020-23. The IRS confirmed that the sole relief granted for like-kind exchanges was the stated limitation in Notice 2020-23, that only the §1031 deadline that fell between April 1, 2020 and July 14, 2020 could be extended to July 15, 2020. Read more info here.
- No Change as IRS Finally Clarifies COVID-19 Disaster Relief for 1031 Exchanges (8/11/20)
- IPX1031 Covid-19 1031 Exchange FAQs
- Real Estate Coalition Requests Clarification of Disaster Relief for 1031 Exchanges (4/20/20)
- 1031 Extensions Granted! (4/9/20)
- IPX1031/coalition of trade associations PDF letter to IRS & Treasury (3/23/20)
- Your 1031 Funds Are Safe – Important info on safety and IRS deadlines (3/18/20)
- Your 1031 Funds Are Safe PDF