National Disaster 1031 Exchange Extensions
The Internal Revenue Service has created the following natural disaster extensions for 1031 Exchanges across different states. Please visit this page for constant updates.
California
IRS Deadline - October 16, 2023
Earlier this year the IRS issued news extending 1031 deadlines for those affected by flooding, mudslides, and severe weather in CA.
The IRS states, “CA-2023-01, Jan. 10, 2023 WASHINGTON — Victims of severe winter storms, flooding, and mudslides in California beginning Jan. 8, 2023, now have until Oct. 16, 2023, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today.”
Those with 1031 exchange monies are included in this IRS extension.
Call us for more details about which Versity DST investments may be available for your affected clients looking to stay taxes deferred via 1031 exchange.
Mississippi
IRS Deadline - October 16, 2023
In August of this year the IRS extended the 1031 Tax deadlines for victims of severe storms, straight-line winds, and tornadoes.
The IRS declared, “MS-2023-03, Aug. 15, 2023 WASHINGTON – Victims of severe storms, straight-line winds, and tornadoes in parts of Mississippi that occurred from June 14, 2023, to June 19, 2023, now have until Oct. 16, 2023, to file various individual and business tax returs and make tax payments, the Internal Revenue Service announced today.”
This extension only applies to the following counties; Adams, Amite, Attala, Claiborne, Copiah, Covington, Franklin, Greene, Holmes, Humphreys, tawamba, Jackson, Jasper. Jetterson, Jetterson Davis, Jones, Lawrence, Leake, Neshoba, Newton, Perry, Rankin, Scott, Simpson, Smith, Warren, Wayne, and Yazoo Counties and the Mississippi Choctaw Indian Reservation.
Those with 1031 exchange monies are included in this IRS extension.
Call us for more details about which Versity DST investments may be available for your affected clients looking to stay taxes deferred via 1031 exchange.
Illinois
IRS Deadline - October 31, 2023
The state of Illinois has issued a tax extension for businesses and residents affected by severe storms and flooding in Cook County, Illinois. This extension only applies to those in Cook County.
In August the IRS stated, “IL-2023-06, Aug. 16, 2023 WASHINGTON – Victims of severe storms and flooding in parts of Illinois that began on June 29, 2023, now have until Oct. 31, 2023, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today.”
Those with 1031 exchange monies are included in this IRS extension.
Call us for more details about which Versity DST investments may be available for your affected clients looking to stay taxes deferred via 1031 exchange.
Vermont
IRS Deadline - November 15, 2023
The IRS has issued the following tax extension for victims of flooding in the state of Vermont. This IRS extension applies to all counties within the state.
In July of this year the IRS stated, “VT-2023-01, July 13, 2023
WASHINGTON — Victims of flooding in Vermont that began on July 7, 2023, now have until Nov. 15, 2023, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today.”
Those with 1031 exchange monies are included in this IRS extension.
Call us for more details about which Versity DST investments may be available for your affected clients looking to stay taxes deferred via 1031 exchange.
Florida
IRS Deadline - February 15, 2024
The IRS has issued a tax extension for those in Florida affected by hurricane Idalia.
In august of 2023 the IRS stated, “FL-2023-06, Aug. 30, 2023
WASHINGTON — The Internal Revenue Service today announced tax relief for individuals and businesses affected by Idalia in parts of Florida. Taxpayers affected by the storm that began on Aug. 27. 2023, now have until Feb. 15, 2024, to file various individual and business tax returns and make tax payments.”
This tax extension only applies to the following counties:
Alachua, Baker, Bay, Bradford, Brevard, Calhoun, Charlotte, Citrus, Clay, Collier, Columbia, DeSoto, Dixie, Duval, Flagler, Franklin, Gadsden, Gilchrist, Gulf, Hamilton, Hardee, Hernando, Hillsborough, Jefferson, Lafayette, Lake, Lee, Leon, Levy, Liberty, Madison, Manatee, Marion, Nassau, Orange, Osceola, Pasco, Pinellas, Polk, Putnam, Sarasota, Seminole, St. Johns, Sumter, Suwannee, Taylor, Union, Volusia and Wakulla counties
Those with 1031 exchange monies are included in this IRS extension.
Call us for more details about which Versity DST investments may be available for your affected clients looking to stay taxes deferred via 1031 exchange.
Hawaii
IRS Deadline - February 15, 2024
In August of 2023 the IRS issued a tax extension for those affected by wildfires in Hawaii. This tax extension only applies to Hawaii and Maui counties.
The IRS stated “HI-2023-05, Aug. 21, 2023
WASHINGTON — The Internal Revenue Service announced today, victims of wildfires in parts of Hawaii that began on Aug. 8, 2023, now have until Feb. 15, 2024, to file various individual and business tax returns and make tax payments.”
Those with 1031 exchange monies are included in this IRS extension.
Call us for more details about which Versity DST investments may be available for your affected clients looking to stay taxes deferred via 1031 exchange.
South Carolina
IRS Deadline - February 15, 2024
The IRS has issued a tax extension for those affected by hurricane Idalia anywhere in the state of South Carolina. This extension applies to all counties in SC.
In September of 2023 the IRS stated “IR-2023-163, Sept. 6, 2023
WASHINGTON — The Internal Revenue Service today announced tax relief for individuals and businesses affected by Idalia, anywhere in South Carolina. These taxpayers now have until Feb. 15, 2024, to file various federal individual and business tax returns and make tax payments. This is similar to relief already being provided in most of Florida.”
Those with 1031 exchange monies are included in this IRS extension.
Call us for more details about which Versity DST investments may be available for your affected clients looking to stay taxes deferred via 1031 exchange.
