45 and 180 Day Extensions for Florida Counties
The IRS has issued an extension Notice for the following Florida counties for Tropical Storm Fay on August 18, 2008:
Brevard, Hendry, Okeechobee, St. Lucie and Volusia. [Note that the IRS may add additional counties later as
FEMA adds counties. If you are near the affected area, you should check the disaster announcement website for
updates. The FEA will not issue announcements if more counties are added.]
Both of the following criteria must be met to get the extension under Revenue Procedure 2007-56, section 17:
(1) The taxpayer is located in one of these counties or is otherwise an affected taxpayer as defined in the Notice,
regardless of where the relinquished property or replacement property is located, or otherwise has difficulty
meeting the exchange deadlines under the conditions in Revenue Procedure 2007-56, section 17; AND
(2) The relinquished property was transferred (or the parked property was acquired by the EAT in a reverse
exchange under Revenue Procedure 2000-37) on or before August 18, 2008.
IF the taxpayer meets these criteria, THEN any 45 day or 180 day deadline that falls within the period on or
after August 18, 2008, is extended to the later of November 17, or 120 days from such deadline.
Please see Revenue Procedure 2007-56, Section 17, and the notice below for further details.
http://www.irs.gov/newsroom/article/0,,id=108362,00.html
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