<h2>Due to Hurricane Idalia, the IRS has issues Tax Relief for several counties in Florida and all counties within South Carolina.</h2>

<p><br />
<u><strong>The Disaster Date is August 27th (FL) and August 29th (SC). The General postponement date is February 15, 2024.</strong></u><br />
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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>Currently, 46 of Florida's 67 counties and all 46 counties of South Carolina 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-those-impacted-by-idalia-qualify-for-t…; title="IRS Announces Tax Relief for Hurricane Idalia in Florida">Visit for full details on the tax relief in Florida.</a></p>

<p><a href="https://www.irs.gov/newsroom/irs-those-impacted-by-idalia-qualify-for-t…; title="IRS Announces Tax Relief for Hurricane Idalia in Florida">Visit for full details on the tax relief in South Carolina.</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>

<p>We could not be more proud of what our team at Accruit was able to accomplish over 2022, below is small glimpse at what 2022 held for us. We'd like to thank all of our industry colleagues and referral partners for their continued support as we strive to #Revolutionize1031!&nbsp;</p>

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<h2>Due to Hurricane Ian, the IRS has issued extensions of the 45-day and 180-day deadlines for the entire states of Florida, South Carolina, and North Carolina.</h2>

<p>&nbsp;</p>

<p><u><strong>The Disaster Date is September 23, 2022. The General postponement date is February 15, 2023. </strong></u></p>

<p>&nbsp;</p>

<p>Affected Taxpayers are defined as those individuals who live, and businesses whose principal place of business is located in the covered disaster area (anywhere in the state of Florida, South Carolina, or North Carolina). 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.</p>

<p>Option 1: (Section 6: Affected Taxpayers only.) Any 45-day deadline or 180-day deadlines (for either a forward or reverse exchange) that falls on or after the disaster date 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 2: (Section 17 Alternative: Available to Affected Taxpayers and other taxpayers who have difficulty meeting the exchange deadlines because of the disaster.) Option 2 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.</p>

<p>&nbsp;</p>

<p><a href="https://www.irs.gov/newsroom/irs-announces-tax-relief-for-victims-of-hu…; title="IRS Announces Tax Relief for Hurricane Ian ">Visit for full details on the tax relief.</a></p>

<p>&nbsp;</p>

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

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<p><em>Updated 10/13/2022.</em></p>

<h2>Industry Education</h2>

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<p>Accruit was honored to help educate our peers in the 1031 industry by presenting in both boot camps at this year’s conference. “Our team is absolutely recognized as leaders in the 1031 industry – we are the go-to QI for learning, solutions, and setting standards,” said Brent Abrahm, President &amp; CEO of Accruit.</p>

<p>David Gorenberg co-presented the 1031 Boot Camp to roughly 60 attendees. In addition to instructing the boot camp, David presented two General Session topics including Identification Pickles and Real-World Ethics for the QI. “Over the past fifteen years, I have presented approximately 30 sessions at FEA Annual Conferences. With each presentation I grow as a Qualified Intermediary, either because I am teaching new material or because attendees ask questions I haven't yet faced. I was honored to deliver three presentations this year, with many first-time attendees, and each presentation furthered my understanding of Section 1031, and my ability to translate that information to people of differing backgrounds,” said David.</p>
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<p>Martin Edwards and Matthew Douglas presented the Reverse Exchanges Boot Camp to approximately 50 attendees. The duo covered the different variations of parking transactions in relative detail over the course of the three-hour presentation, and fielded questions from a highly engaged audience mostly made up of other QIs who were interested in either deepening their knowledge of parking exchanges or preparing to start handling those transactions themselves. One boot camp attendee indicated that while she has attended various conferences that discussed reverse exchanges, for the first time she understood the subject after attending this particular boot camp. As a first time FEA attendee, Matthew was proud to represent Accruit and instruct on parking deals, which he spends most of his professional time handling. “It was a pleasure to take what I’ve learned working at Accruit, and with Marty specifically, and present it in a way that our audience seemed to understand and appreciate,” stated Matthew.</p>
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<h2>Award Recognition</h2>

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<p>We are proud to announce that members of Accruit were recognized for their 1031 industry involvement and awarded the two coveted FEA awards for 2022.</p>

<p>Martin Edwards was awarded the Margo McDonnell Certified Exchange Specialist® Perpetual Award at the FEA Annual Convention. Nominated by peers, the award recognizes someone who has gone “above and beyond” and made significant contributions that benefit the 1031 exchange industry. Martin has over 35 years' experience in the 1031 industry, he is a current member and past board member of the FEA. His contributions include lecturing at the Illinois State Bar Association, multiple FEA Annual Conventions amongst many others.</p>

<p>Max Hansen received the 2022 President’s Award. The award recognizes an individual who has demonstrated outstanding leadership in their efforts on FEA’s behalf to save and grow the 1031 exchange industry. With over four decades in the 1031 industry, Max’s contributions are numerous, some of the more notable include a former FEA president and former co-chair of the Government Affairs Committee (GAC) of the FEA. He still serves on the GAC and actively promotes the benefits of 1031 exchanges for taxpayers and the economy as a whole.</p>
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<h2>Revolutionizing 1031 – The Industry’s Only Patented 1031 Workflow Software (SaaS)</h2>

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<p>Accruit Technologies was proud to showcase Exchange Manager ProSM, the patented 1031 exchange workflow software, at the FEA Conference Exhibit Hall. Members of the 1031 industry are asking for technology solutions, and our team was able to deliver by conducting various demonstrations of Exchange Manager ProSM, the one-stop-solution for Qualified Intermediaries.</p>
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<h2>&nbsp;</h2>

<h2>All Business, But Also Fun</h2>

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<p>Accruit Technologies wrapped up the FEA Annual Conference by hosting an intimate After Party, with our friends at Capital One, for our existing QI SaaS Clients, prospective clients, and existing partners.</p>

<p>“It was a great opportunity to meet several of our SaaS clients and hear what they like about Exchange Manager ProSM,,” stated Mark Mayfield, Vice President, Service Development &amp; Delivery.</p>

<p>We’d like to thank the FEA for such a great event that will continue to push the 1031 industry forward. Marita Kazos, of the Accruit Technologies Client Success Team reflected on the experience, “To me the FEA Annual Conference is like the 1031 Exchange Oscars, and I am so thankful I was there.”</p>

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<h3><strong><em>Until Next Year!&nbsp;</em></strong></h3>
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<h2>Home Page Design</h2>

<p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Accruit strives to stay on the cutting edge of the 1031 Exchange industry, our website is no exception. We simplified the overall design of our home page achieving a more modern, bolder look. We push ourselves to be the Qualified Intermediary (QI) revolutionizing the 1031 exchange industry and as such, we made these website modifications to remove distractions and help our clients get to their destination in as few as clicks as possible. </span></span></p>

<h2>Main Navigation Menu</h2>

<p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">In addition to the website design changes, we consolidated our main navigation menu. By condensing two categories into one, new category, Our QI Services, are now front and center. </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Through our research we found that our clients are mainly looking for information on the basics of a 1031 exchange, education on specific 1031 exchange situations, and Accruit’s service offerings as a Qualified Intermediary. With our updated main navigation menu we made all three of these popular topics more accessible. </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">We look forward to watching you all interact with our revamped website, and we hope you find all the 1031 exchange information you are looking for in as few as clicks as possible. </span></span></p>

<p>Last week, several members of Accruit joined other industry colleagues at the annual FEA conference in Chicago to hear about the latest updates regarding tax reform and the potential impact to 1031s.&nbsp;Through the efforts of the 1031 Coalition, the 1031 industry was successful in ensuring capping <strong>1031s were not</strong> part of the revenue offsets presented by the House of Representatives earlier this month. This is a positive outcome as we typically see the Senate follow the lead on tax offsets from the House. &nbsp;Furthermore, on the Senate floor last month, Senator Kennedy (LA) submitted an amendment during a “vote-a-rama” to retain 1031s in their current state. Per the request of Senate Finance Chairman Wyden (OR) the vote was taken as a voice-vote and received unanimous support from all Senators.</p>

<p>This week, <a href="https://www.accruit.com/about/meet-team/brent-abrahm&quot; target="_blank" title="Brent Abrahm Accruit 1031 Exchanges">Brent Abrahm</a>, Accruit President &amp; CEO, participated in three significant virtual calls with Senators to further underscore the importance of retaining 1031s as an effective stimulus for our country. &nbsp;Along with other members of the 1031 Coalition, critical points were made regarding the positive impact of 1031s. &nbsp;A few key supporting facts were highlighted in each call; &nbsp;<a href="https://www.accruit.com/property-owners/1031-exchange-explained&quot; target="_blank" title="1031 like-kind exchanges">1031 like-kind exchanges </a>allow the country to repurpose inefficient commercial properties, 1031s actually produce a positive economic benefit, increase income taxes, and create additional jobs by stimulating our economy, and any attempts to cap the 1031 provision is equivalent to repeal. &nbsp;Senators Bennet (CO), Tester (MT) and Kennedy (LA) all showed wide support and understanding of our data and points of impact.&nbsp;</p>

<p>The efforts are not over and work still needs to be done. &nbsp;Accruit will participate in additional Hill meetings in the coming weeks. &nbsp;We still ask that anyone who may be impacted by a change in the 1031 code, please <a href="https://1031buildsamerica.org/take-action/&quot; target="_blank" title="ACT NOW">ACT NOW</a> and share your support.</p>

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