It appears that any affected taxpayer now has until July 15, 2020 with 1031 exchanges.
Notice 2020-23 now provides some relief to taxpayers who are currently engaged in a 1031 exchange from the 45-day Identification and 180-day exchange period deadlines. For example:
- If your identification period falls between 4/1/2020 and 7/15/2020 you have until 7/15/2020 to identify your prospective replacement properties
- If your 180-day deadline falls between 4/1/2020 and 7/15/2020 you have until 7/15/2020 to complete your exchange transaction.
