<p>2023 was a year of unknowns for much of the real estate industry and adjacent industries like 1031 Exchange Qualified Intermediaries. With interest rates reaching a 20 year high, recession, inflation, all while real estate prices held steady and high - it was a challenging market for many.</p>

<p>Accruit's team didn't let these factors impact their goals for growth and innovation. It was a great 2023 and Accruit's team couldn't be more proud of the results.</p>

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<p><em>The material in this blog is presented for informational purposes only. The information presented is not investment, legal, tax or compliance advice. Accruit performs the duties of a Qualified&nbsp;Intermediary, and as such does not offer or sell investments or provide investment, legal, or tax advice.</em></p>

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<h2>Due to recent storms and tornados, the IRS has issued Tax Relief for parts of Tennessee.</h2>

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<p><u><strong>The General postponement date is June 17, 2024.</strong></u><br />
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<p>Individuals that reside or have businesses within Davidson, Dickson, Montgomery, and Sumner counties qualify for tax relief as this time.&nbsp;</p>

<p>An “Affected Taxpayer” includes individuals who live, and businesses whose principal place of business is located in, the Covered Disaster Area. Affected Taxpayers are entitled to relief regardless of where the relinquished property or replacement property is located. Affected Taxpayers may choose either the General Postponement relief under Section 6 OR the Alternative relief under Section 17 of Rev. Proc. 2018-58. Taxpayers who do not meet the definition of Affected Taxpayers do not qualify for Section 6 General Postponement relief.</p>

<p>Option One: General Postponement under Section 6 of Rev. Proc. 2018-58 (Affected Taxpayers only). Any 45-day deadline or 180-day deadline (for either a forward or reverse exchange) that falls on or after the Disaster Date above is postponed to the General Postponement Date. The General Postponement applies regardless of the date the Relinquished Property was transferred (or the parked property acquired by the EAT) and is available to Affected Taxpayers regardless of whether their exchange began before or after the Disaster Date.</p>

<p>Option Two: Section 17 Alternative (Available to (1) Affected Taxpayers and (2) other taxpayers who have difficulty meeting the exchange deadlines because of the disaster. See Rev. Proc. 2018-58, Section 17 for conditions constituting “difficulty”). Option Two is only available if the relinquished property was transferred (or the parked property was acquired by the EAT) on or before the Disaster Date. Any 45-day or 180-day deadline that falls on or after the Disaster Date is extended to THE LONGER OF: (1) 120 days from such deadline; OR (2) the General Postponement Date. Note the date may not be extended beyond one year or the due date (including extensions) of the tax return for the year of the disposition of the relinquished property (typically, if an extension was filed, 9/15 for corporations and partnerships and 10/15 for other taxpayers).&nbsp;</p>

<p><br />
<a href="https://www.irs.gov/newsroom/irs-tennessee-taxpayers-impacted-by-storms…; title="IRS Tax Relief for counties in Tennessee">Visit for full details on the tax relief from the IRS.</a></p>

<p><em>The material in this blog is presented for informational purposes only. The information presented is not investment, legal, tax or compliance advice. Accruit performs the duties of a Qualified&nbsp;Intermediary, and as such does not offer or sell investments or provide investment, legal, or tax advice.</em></p>

<h2>Due to severe winter storms, flooding, and mudslides in California, the IRS has issued extensions of the 45-day and 180-day deadlines for several counties in California.</h2>

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<u><strong>The Disaster Date is January 8, 2023. <em>The ORIGINAL General postponement date was May 15, 2023</em>.</strong></u></p>

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<h3><strong>UPDATED 10/16/23: </strong>This news release has been updated to change the filing and payment deadlines from Oct. 16, 2023 to Nov. 16, 2023. The Nov. 16 deadline also applies to the quarterly payroll and excise tax returns normally due on Oct. 31, 2023.</h3>

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<p><strong>UPDATED 2/23/23: </strong>Updated to change the filing and payment deadlines from May 15, 2023 to Oct. 16, 2023.</p>

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<p><em>The&nbsp;<strong>Disaster Date</strong>&nbsp;is listed above. Note that some disasters occur on a single date; others, such as flooding, occur over a period of days and the Disaster Date above is preceded by&nbsp;<strong>beginning or began</strong>.</em></p>

<p>Victims of severe winter storms, flooding, and mudslides in California beginning January 8, 2023, now have until May 15, 2023, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today.</p>

<p>Following the disaster declaration issued by the Federal Emergency Management Agency, individuals and households affected by severe winter storms, flooding, and mudslides that reside or have a business in Colusa, El Dorado, Glenn, Humboldt, Los Angeles, Marin, Mariposa, Mendocino, Merced, Monterey, Napa, Orange, Placer, Riverside, Sacramento, San Bernardino, San Diego, San Joaquin, San Luis Obispo, San Mateo, Santa Barbara, Santa Clara, Santa Cruz, Solano, Sonoma, Stanislaus, Sutter, Tehama, Ventura, Yolo, and Yuba counties qualify for tax relief.</p>

<p>An “Affected Taxpayer” includes individuals who live, and businesses whose principal place of business is located in, the Covered Disaster Area. Affected Taxpayers are entitled to relief regardless of where the relinquished property or replacement property is located. Affected Taxpayers may choose either the General Postponement relief under Section 6 OR the Alternative relief under Section 17 of Rev. Proc. 2018-58. Taxpayers who do not meet the definition of Affected Taxpayers do not qualify for Section 6 General Postponement relief.</p>

<p>Option One: General Postponement under Section 6 of Rev. Proc. 2018-58 (Affected Taxpayers only). Any 45-day deadline or 180-day deadline (for either a forward or reverse exchange) that falls on or after the Disaster Date above is postponed to the General Postponement Date. The General Postponement applies regardless of the date the Relinquished Property was transferred (or the parked property acquired by the EAT) and is available to Affected Taxpayers regardless of whether their exchange began before or after the Disaster Date.</p>

<p>Option Two: Section 17 Alternative (Available to (1) Affected Taxpayers and (2) other taxpayers who have difficulty meeting the exchange deadlines because of the disaster. See Rev. Proc. 2018-58, Section 17 for conditions constituting “difficulty”). Option Two is only available if the relinquished property was transferred (or the parked property was acquired by the EAT) on or before the Disaster Date. Any 45-day or 180-day deadline that falls on or after the Disaster Date is extended to THE LONGER OF: (1) 120 days from such deadline; OR (2) the General Postponement Date. Note the date may not be extended beyond one year or the due date (including extensions) of the tax return for the year of the disposition of the relinquished property (typically, if an extension was filed, 9/15 for corporations and partnerships and 10/15 for other taxpayers).&nbsp;</p>

<p><br />
<a href="https://www.irs.gov/newsroom/irs-announces-tax-relief-for-victims-of-se…; title="IRS Announces Tax Relief for California Winter Storms 2023">Visit for full details on the tax relief.</a></p>

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<p><em>Details above provided by the Federation of Exchange Accommodators (FEA).</em></p>

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<p><em>Updated 10/16/2023.</em></p>

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<h2>Due to seawater intrusion, the IRS has issued Tax Relief for parts of Louisiana.</h2>

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<p><u><strong>The General postponement date is February 15, 2024.</strong></u><br />
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<p>Individuals that reside or have a business within Jefferson, Orleans, Plaquemines, and St. Bernard parishes in Louisiana qualify for tax relief.&nbsp;</p>

<p>An “Affected Taxpayer” includes individuals who live, and businesses whose principal place of business is located in, the Covered Disaster Area. Affected Taxpayers are entitled to relief regardless of where the relinquished property or replacement property is located. Affected Taxpayers may choose either the General Postponement relief under Section 6 OR the Alternative relief under Section 17 of Rev. Proc. 2018-58. Taxpayers who do not meet the definition of Affected Taxpayers do not qualify for Section 6 General Postponement relief.</p>

<p>Option One: General Postponement under Section 6 of Rev. Proc. 2018-58 (Affected Taxpayers only). Any 45-day deadline or 180-day deadline (for either a forward or reverse exchange) that falls on or after the Disaster Date above is postponed to the General Postponement Date. The General Postponement applies regardless of the date the Relinquished Property was transferred (or the parked property acquired by the EAT) and is available to Affected Taxpayers regardless of whether their exchange began before or after the Disaster Date.</p>

<p>Option Two: Section 17 Alternative (Available to (1) Affected Taxpayers and (2) other taxpayers who have difficulty meeting the exchange deadlines because of the disaster. See Rev. Proc. 2018-58, Section 17 for conditions constituting “difficulty”). Option Two is only available if the relinquished property was transferred (or the parked property was acquired by the EAT) on or before the Disaster Date. Any 45-day or 180-day deadline that falls on or after the Disaster Date is extended to THE LONGER OF: (1) 120 days from such deadline; OR (2) the General Postponement Date. Note the date may not be extended beyond one year or the due date (including extensions) of the tax return for the year of the disposition of the relinquished property (typically, if an extension was filed, 9/15 for corporations and partnerships and 10/15 for other taxpayers).&nbsp;</p>

<p><br />
<a href="https://www.irs.gov/newsroom/irs-taxpayers-impacted-by-seawater-intrusi…; title="IRS Tax Relief for Louisiana Residents Impacted by seawater intrusion">Visit for full details on the tax relief from the IRS.</a></p>

<p><em>The material in this blog is presented for informational purposes only. The information presented is not investment, legal, tax or compliance advice. Accruit performs the duties of a Qualified&nbsp;Intermediary, and as such does not offer or sell investments or provide investment, legal, or tax advice.</em></p>

<h2>Due to Hurricane Lee, the IRS has issued Tax Relief for Maine and&nbsp;Massachusetts.</h2>

<p><u><strong>The General postponement date is February 15, 2024.</strong></u><br />
&nbsp;</p>

<p>All 16 counties in Maine and all 14 counties in Massachusetts&nbsp; qualify for tax relief.&nbsp;</p>

<p>An “Affected Taxpayer” includes individuals who live, and businesses whose principal place of business is located in, the Covered Disaster Area. Affected Taxpayers are entitled to relief regardless of where the relinquished property or replacement property is located. Affected Taxpayers may choose either the General Postponement relief under Section 6 OR the Alternative relief under Section 17 of Rev. Proc. 2018-58. Taxpayers who do not meet the definition of Affected Taxpayers do not qualify for Section 6 General Postponement relief.</p>

<p>Option One: General Postponement under Section 6 of Rev. Proc. 2018-58 (Affected Taxpayers only). Any 45-day deadline or 180-day deadline (for either a forward or reverse exchange) that falls on or after the Disaster Date above is postponed to the General Postponement Date. The General Postponement applies regardless of the date the Relinquished Property was transferred (or the parked property acquired by the EAT) and is available to Affected Taxpayers regardless of whether their exchange began before or after the Disaster Date.</p>

<p>Option Two: Section 17 Alternative (Available to (1) Affected Taxpayers and (2) other taxpayers who have difficulty meeting the exchange deadlines because of the disaster. See Rev. Proc. 2018-58, Section 17 for conditions constituting “difficulty”). Option Two is only available if the relinquished property was transferred (or the parked property was acquired by the EAT) on or before the Disaster Date. Any 45-day or 180-day deadline that falls on or after the Disaster Date is extended to THE LONGER OF: (1) 120 days from such deadline; OR (2) the General Postponement Date. Note the date may not be extended beyond one year or the due date (including extensions) of the tax return for the year of the disposition of the relinquished property (typically, if an extension was filed, 9/15 for corporations and partnerships and 10/15 for other taxpayers).&nbsp;</p>

<p><br />
<a href="https://www.irs.gov/newsroom/irs-taxpayers-impacted-by-hurricane-lee-in…; title="IRS Tax Relief for Hurricane Lee in Maine and Massachusetts">Visit for full details on the tax relief from the IRS.</a></p>

<p><em>The material in this blog is presented for informational purposes only. The information presented is not investment, legal, tax or compliance advice. Accruit performs the duties of a Qualified&nbsp;Intermediary, and as such does not offer or sell investments or provide investment, legal, or tax advice.</em></p>

<h2>Due to Idalia, the IRS has issued Tax Relief for 28 counties within Georgia.</h2>

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<u><strong>The Disaster Date is August 30th (GA). The General postponement date is February 15, 2024.</strong></u><br />
&nbsp;</p>

<p><em>The&nbsp;<strong>Disaster Date</strong>&nbsp;is listed above. Note that some disasters occur on a single date; others, such as flooding, occur over a period of days and the Disaster Date above is preceded by&nbsp;<strong>beginning or began</strong>.</em></p>

<p>Currently, 28 counties within Georgia including: Appling, Atkinson, Bacon, Berrien, Brantley, Brooks, Bulloch, Camden, Candler, Charlton, Clinch, Coffee, Colquitt, Cook, Echols, Emanuel, Glynn, Jeff Davis, Jenkins, Lanier, Lowndes, Pierce, Screven, Tattnall, Thomas, Tift, Ware and Wayne counties qualify. Individuals and households that reside or have a business in these counties qualify for tax relief, but any area added later to the disaster area will also qualify.&nbsp;</p>

<p>An “Affected Taxpayer” includes individuals who live, and businesses whose principal place of business is located in, the Covered Disaster Area. Affected Taxpayers are entitled to relief regardless of where the relinquished property or replacement property is located. Affected Taxpayers may choose either the General Postponement relief under Section 6 OR the Alternative relief under Section 17 of Rev. Proc. 2018-58. Taxpayers who do not meet the definition of Affected Taxpayers do not qualify for Section 6 General Postponement relief.</p>

<p>Option One: General Postponement under Section 6 of Rev. Proc. 2018-58 (Affected Taxpayers only). Any 45-day deadline or 180-day deadline (for either a forward or reverse exchange) that falls on or after the Disaster Date above is postponed to the General Postponement Date. The General Postponement applies regardless of the date the Relinquished Property was transferred (or the parked property acquired by the EAT) and is available to Affected Taxpayers regardless of whether their exchange began before or after the Disaster Date.</p>

<p>Option Two: Section 17 Alternative (Available to (1) Affected Taxpayers and (2) other taxpayers who have difficulty meeting the exchange deadlines because of the disaster. See Rev. Proc. 2018-58, Section 17 for conditions constituting “difficulty”). Option Two is only available if the relinquished property was transferred (or the parked property was acquired by the EAT) on or before the Disaster Date. Any 45-day or 180-day deadline that falls on or after the Disaster Date is extended to THE LONGER OF: (1) 120 days from such deadline; OR (2) the General Postponement Date. Note the date may not be extended beyond one year or the due date (including extensions) of the tax return for the year of the disposition of the relinquished property (typically, if an extension was filed, 9/15 for corporations and partnerships and 10/15 for other taxpayers).&nbsp;</p>

<p><br />
<a href="https://www.irs.gov/newsroom/irs-georgia-taxpayers-impacted-by-idalia-q…; title="IRS Announces Tax Relief for Hurricane Idalia in Georgia">Visit for full details on the tax relief in Georgia.</a></p>

<p><a href="/blog/irs-announces-tax-relief-victims-hurricane-idalia-florida-and-south-carolina" title="IRS Tax Relief for Georgia Counties Affected by Idalia">Read more on additional IRS Tax Relief for those impacted by Hurricane Idalia in Florida and South Carolina.&nbsp;</a></p>

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<p><em>The material in this blog is presented for informational purposes only. The information presented is not investment, legal, tax or compliance advice. Accruit performs the duties of a Qualified&nbsp;Intermediary, and as such does not offer or sell investments or provide investment, legal, or tax advice.</em></p>