Company and Industry News

IRS Announces Tax Relief for Tennessee and Arkansas Taxpayers Impacted by Severe Storms

meredithb@accruit.com — Mon, 14 Apr 2025 14:45:40 +0000

IRS Announces Tax Relief for Tennessee and Arkansas Taxpayers Impacted by Severe Storms

meredithb@accr… Mon, 04/14/2025 - 14:45

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IRS Announces Tax Relief for Tennessee and Arkansas Taxpayers Impacted by Severe Storms

Due to severe storms, straight-line winds, tornadoes and flooding that occured in early April, the IRS has issued Tax Relief for the entire states of Tennessee of Arkansas.

Affected Taxpayers have until November 3, 2025, to make tax payments and file for various individual and business tax returns.

Currently, all individuals and households that reside in or have a business within the entire states of Tennessee and Arkansas qualify for tax relief. Any area added to the disaster area at a later time will also qualify for tax relief.

Who is an "Affected Taxpayer"?

An “Affected Taxpayer” includes individuals who live, and businesses whose principal place of business is 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.

Relief Specific to 1031 Exchanges for Affected Taxpayers

General Postponement under Section 6 of Rev. Proc. 2018-58 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.

Relief for Taxpayers with Related Difficulties

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). 

Visit for full details on the tax relief for Tennessee.

Visit for the full details on the tax relief for Arkansas.

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 Intermediary, and as such does not offer or sell investments or provide investment, legal, or tax advice.

Celebrating 25 Years of Accruit: A Journey of Transformation and Growth

meredithb@accruit.com — Mon, 24 Mar 2025 11:00:00 +0000

Celebrating 25 Years of Accruit: A Journey of Transformation and Growth

meredithb@accr… Mon, 03/24/2025 - 11:00

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Celebrating 25 Years of Accruit: A Journey of Transformation and Growth

Accruit is proud to celebrate its 25th anniversary this month, marking a time for reflection, excitement, and anticipation for the future. Over the years, Accruit has transformed and evolved, overcoming industry challenges and seizing new opportunities. Under the leadership of Brent Abrahm, the company has grown from its beginnings as a Qualified Intermediary for personal property exchanges to a leader in 1031 Exchange solutions for real estate exchanges, recognized nationally as an innovator in the industry.

We recently sat down with CEO and founder, Brent Abrahm, to discuss the journey of Accruit, how it has navigated pivotal changes, and his vision for the future.

The Early Years: Pioneering Personal Property Exchanges

Before Accruit became a recognized leader in real estate 1031 Exchanges, it spent many years as the foremost technology-driven Qualified Intermediary for personal property (or business-use assets) exchanges. In fact, prior to the Tax Cuts and Jobs Act of 2017, 75% of the company's focus and revenue came from facilitating exchanges for personal property - high-volume transactions that involved some of the largest corporations in the world, including British Petroleum, Caterpillar, John Deere, BMW, and U.S. Bank.

The foundation for Accruit’s success was built on its unique strategy pioneering high-volume, lower-dollar personal property exchanges, creating a market that didn’t exist before. Beyond facilitating exchanges, Accruit distinguished itself with its ability to manage large volumes of exchanges for corporate clients and its innovative technology solution, Exchange Manager Pro^SM, the first and only patented 1031 Exchange workflow technology.

“We were known as the personal property Qualified Intermediary and the technology leader,” Brent explained. “Our first big break came from shifting the mindset of ordinary sales and purchases to efficiently capturing 1031 Exchanges for any business assets.”

Accruit’s proven track record in personal property exchanges, combined with patented technology, made Accruit a sought-after partner, even in a competitive landscape. By working with some of the world’s largest organizations, the company built a strong reputation and earned the trust of the industry.

Adapting to Change: The Tax Cuts and Jobs Act of 2017

The Tax Cuts and Jobs Act of 2017 marked a turning point for Accruit and the entire 1031 Exchange industry, abruptly eliminating like-kind exchanges for non-real estate transactions. This forced Accruit, and its leadership team, into a critical decision: adapt or risk falling behind.

The sudden loss of the personal property exchange market was a significant challenge. Rather than seeing it as a setback, Brent saw an opportunity. Accruit had already spent nearly two decades building a strong reputation, pioneering technology, and forging relationships with major corporations. These assets became the foundation for its transformation into what Accruit has become today.

“When you're a small organization and you face a massive industry shift, your only choice is to adapt or risk failure,” Brent explained. “We had to completely transform to stay relevant. And that's exactly what we did. We leveraged the technology we had, the reputation we built, and our network to pivot and enter the real estate industry.”

That bold move didn’t just allow Accruit to survive, it was the catalyst that set the company up to thrive. By embracing change, Accruit expanded its scope, strengthened its position in the market, and paved the way for explosive growth.

The People Behind Accruit’s Success: Building an Industry-Leading Team

As Accruit scaled from a small company to an industry leader, one of the most rewarding aspects has been the people who have joined the team throughout the years. According to Brent, “The key to our success is the people. As long as we continue to find team members who embrace an entrepreneurial spirit, challenge norms, and think creatively, the journey stays exciting and energizing.”

A key figure in Accruit’s growth has been Martin Edwards, one of the company’s Managing Directors and long-time 1031 technical advisor. Marty’s relationship with Brent dates back to the 1990s, when Brent was initially learning about 1031s for personal property.

In 2011, Accruit acquired Chicago-based Qualified Intermediary, North Star Deferred Exchange, led by Marty. This acquisition not only added decades of experience but also reinforced Accruit’s entrepreneurial spirit, ensuring that Accruit’s team remained at the forefront of the industry.

“Marty’s company was our original Qualified Intermediary in the 90s when I was with Amoco Production Company. We needed a Qualified Intermediary to launch our like-kind exchange program, and that was Marty,” Brent shared. “He’s been a pillar in our industry and a part of our fabric for a long time.”

Marty’s impact on Accruit extends far beyond legal authority. His deep industry expertise helped shape Accruit’s evolution, particularly in real estate exchanges. Before Accruit’s business relationship with PricewaterhouseCoopers (PwC), Marty was one of the few Qualified Intermediaries handling personal property exchanges, and PwC was already relying on his services.

“Marty was one of a few Qualified Intermediaries understanding high-volume personal property exchanges,” Brent explained. “He’s been in the industry for so long, and his insights and experience have been invaluable to us.”

Reflecting on his own journey with Accruit, Marty shared, “I was a bit unsure about taking the big step to join Accruit, but I made the move because I had a lot of faith in Brent. Over time, my faith proved well-founded as I found him an inspirational leader. It has been a pleasure working with him and the Accruit team he put together.”

The ongoing contributions from Marty and others with similar longevity in the industry have been instrumental in Accruit's success. In 2018, Accruit expanded its reach in the Rocky Mountain region by acquiring Montana-based Qualified Intermediary, American Equity Exchange, led by industry veteran Max Hansen. Founded in 1991, American Equity Exchange managed thousands of successful exchanges before joining Accruit. From 2012 – 2017, Max and Brent worked tirelessly in Washington, D.C. as co-chairs of the Federation of Exchange Accommodators (FEA) Government Affairs Committee, as still Max is an active committee member. Max, now Managing Director at Accruit, has represented clients in real estate transactions for over 40 years. Facilitating his first exchange in 1978, he is a past president of the FEA and past Co-chair of the FEA’s Government Affairs Committee. He continues to serve on the FEA’s Government Affairs Committee, is a member of the Sales, Exchanges and Basis Committee of the ABA Tax Section, and mentor to the next level of specialized 1031 attorneys and business development team members at Accruit.

Marty and Max’s expertise, along with the dedication and talent of the broader team, has made Accruit the innovative force it is today.

Accruit’s success is built on its ability to attract and retain individuals who are passionate about innovation and willing to push boundaries. “We revolutionized 1031 Exchanges. It wasn’t just a slogan, we truly disrupted the marketplace, and that success has been fueled by the team we’ve assembled,” Brent said.

Leading Through Change and Looking Ahead: The Future of Accruit

After 25 years at the helm, Brent’s passion for Accruit remains as strong as ever. He attributes his continued enthusiasm to the opportunities within the market and the dedicated team driving the company forward.

In April 2023, Accruit was acquired by Inspira Financial, a leading provider of health, retirement, wealth, and benefits solutions. This acquisition was a major milestone in Accruit’s expansion, enabling the company to offer its full suite of 1031 Exchange solutions to Inspira’s extensive client base of over 5 million people, with more than $65 billion in assets under custody. The acquisition was completed after an extensive process and in-depth evaluation of numerous companies, Accruit found the right match in Inspira Financial. For over 20 years, Inspira Financial has provided access to and custody solutions for alternative asset investments including real estate, making the company and its existing clients a great fit for Accruit’s real estate 1031 Exchange services.

For Brent, the synergies just don’t impact revenue growth, it’s about aligning visions and shaping the future of the industry. “We’re focused on becoming a leading force in the industry and continuing to innovate in ways that benefit the entire exchange market. Seeing our vision play out by revolutionizing the industry has been worth the 25-year effort.”

He also emphasized the importance of education and collaboration within the industry. “I’m passionate about seeing the entire 1031 Exchange industry grow,” he said. “There’s room for everyone to succeed, and I’m excited to be part of an industry that’s constantly evolving and moving forward.”

Brent’s enthusiasm for the future is contagious. “Accruit’s next chapter is incredibly exciting. We’re looking forward to growing within Inspira Financial and seeing where those opportunities take us. The potential for expansion and innovation is limitless, and I’m excited to see how much of our vision will come to fruition in the next five years.”

A Message to Employees, Clients, and the 1031 Exchange Industry

As Accruit celebrates 25 years, Brent has a special message for employees, clients, and colleagues in the 1031 Exchange industry:

“I’m still wildly passionate about this industry. We’ve come a long way, but the best is yet to come. The market has incredible growth potential, and I believe that through education, collaboration, and constant innovation, we can continue to move the entire industry forward.”

Brent's commitment to leadership, growth, and industry development has been instrumental in Accruit’s success. As we embark on the next chapter, there’s no doubt that Accruit, with the team we’ve assembled, will continue to lead with our bold vision, innovative approach, and dedication to the success of the entire 1031 Exchange industry.

Here’s to 25 years of success and to an even brighter future ahead!

IRS Announces Tax Relief for West Virginia Taxpayers Impacted by Severe Storms

meredithb@accruit.com — Fri, 14 Mar 2025 18:56:19 +0000

IRS Announces Tax Relief for West Virginia Taxpayers Impacted by Severe Storms

meredithb@accr… Fri, 03/14/2025 - 18:56

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IRS Announces Tax Relief for West Virginia Taxpayers Impacted by Severe Storms

Due to severe storms, straight-line winds, flooding, landslides and mudslides, the IRS has issued Tax Relief for counties within West Virginia.

Affected Taxpayers have until November 3, 2025, to make tax payments and file for various individual and business tax returns.

Currently, all individuals and households that reside in or have a business within Logan, McDowell, Mercer, Mingo, Wayne and Wyoming counties in West Virginia qualify for tax relief. Any area added to the disaster area at a later time will also qualify for tax relief.

Who is an "Affected Taxpayer"?

Relief Specific to 1031 Exchanges for Affected Taxpayers

Relief for Taxpayers with Related Difficulties

Visit for full details on the tax relief.

The IRS Announces Tax Relief for California Taxpayers Impacted by Wildfires

meredithb@accruit.com — Wed, 15 Jan 2025 07:40:56 +0000

The IRS Announces Tax Relief for California Taxpayers Impacted by Wildfires

meredithb@accr… Wed, 01/15/2025 - 07:40

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The IRS Announces Tax Relief for California Taxpayers Impacted by Wildfires

Due to California wildfires, the IRS has issued Tax Relief for Los Angeles County.

Affected Taxpayers have until October 15, 2025, to make tax payments and file for various individual and business tax returns.

Currently, all individuals and households that reside in or have a business within Los Angeles County qualify for tax relief. Any area added to the disaster area at a later time will also qualify for tax relief.

Who is an "Affected Taxpayer"?

Relief Specific to 1031 Exchanges for Affected Taxpayers

Relief for Taxpayers with Related Difficulties

Visit for full details on the tax relief for Los Angeles wildfires.

2024 A Year in Review

marketing — Thu, 09 Jan 2025 10:10:12 +0000

2024 A Year in Review

marketing Thu, 01/09/2025 - 10:10

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2024 A Year in Review

It is with great excitement that Accruit presents our 2024 Year in Review infographic, a vibrant encapsulation of our remarkable achievements over the past year. This visually engaging infographic highlights the substantial growth across all of our product lines, underscoring our unwavering commitment to innovation and market responsiveness.

Moreover, the infographic emphasizes our active involvement in the industry and our dedication to educating various audiences on 1031 exchanges. Through participation in various events, conferences, and workshops, we have shared our expertise and fostered a deeper understanding of tax deferred exchanges, helping clients navigate their complexities with confidence.

2024 was a tremendous success. We look forward to another great year ahead, our team will continue to revolutionize the 1031 industry through our innovative solutions and exceptional customer service.

IRS Announces Tax Relief for Taxpayers in Florida, Alabama, Georgia, North Carolina, South Carolina, and counties in Tennessee and Virginia Impacted by Hurricanes Milton and Helene

meredithb@accruit.com — Fri, 11 Oct 2024 15:23:48 +0000

IRS Announces Tax Relief for Taxpayers in Florida, Alabama, Georgia, North Carolina, South Carolina, and counties in Tennessee and Virginia Impacted by Hurricanes Milton and Helene

meredithb@accr… Fri, 10/11/2024 - 15:23

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IRS Announces Tax Relief for Taxpayers in Florida, Alabama, Georgia, North Carolina, South Carolina, and counties in Tennessee and Virginia Impacted by Hurricanes Milton and Helene

Due to Hurricanes Milton and Helene, the IRS has issued Tax Relief for Florida, Alabama, Georgia, North Carolina, South Carolina, and counties in Tennessee and Virginia.

Affected Taxpayers have until May 1, 2025, to make tax payments and file for various individual and business tax returns.

Currently, all individuals and households that reside in or have a business within Florida, Alabama, Georgia, North Carolina, South Carolina, and counties in Tennessee and Virginia qualify for tax relief. Any area added to the disaster area at a later time will also qualify for tax relief.

An “Affected Taxpayer” includes individuals who live, and businesses whose principal place of business is 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.

Option One: General Postponement under Section 6 of Rev. Proc. 2018-58nt 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.

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). 

Visit for full details on the tax relief.

Accruit Recap of FEA Annual Conference 2024

meredithb@accruit.com — Tue, 01 Oct 2024 15:24:55 +0000

Accruit Recap of FEA Annual Conference 2024

meredithb@accr… Tue, 10/01/2024 - 15:24

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Accruit Recap of FEA Annual Conference 2024

1031 Exchange Industry Education and Involvement

Accruit continued its deep-rooted involvement in educating peers within the 1031 Exchange industry with David Gorenberg co-presenting the 1031 Exchange Bootcamp, which covered topics such as the role of Qualified Intermediaries, intricacies of identification rules, mixed-use properties, and safe harbors. David also led a General Session discussion, A Frank Discussion on Ethics, where the relationship between ethics and 1031 Exchanges was analyzed. As a past co-chair of the FEA Ethics Committee, David’s insights were essential to the conversation.

Brent Abrahm, President and CEO of Accruit, was involved in a panel discussion regarding the FEA Political Action Committee (PAC). The panel underscored the importance of funding the PAC through individual FEA members to help support the work being done in Washington D.C. to protect IRC Section 1031. Brent is proud to point out that, “Accruit was recognized as the only company in the FEA that had 100% participation to the FEA PAC in 2023 and our goal is to do it again in 2024.”

Steve Holtkamp, Senior Managing Director and Chief Revenue Officer, was also present at the conference, attending the Board of Directors meeting to which he is a member. “Steve’s thoughtful approach and meaningful participation on the Board have been recognized and appreciated by his fellow Board members,” said Max Hansen, Managing Director at Accruit.

Michele Smith and Asher joined the rest of the Accruit team at the conference to attend the educational presentations to stay up to date on the latest concepts, receive CE credit, and uphold their status as Certified Exchange Specialists®. Additionally, Ellie Trovato was recognized for being the newest member of the CES® Certification council.

First-time attendees Darcy Yeldell and Noah Doran were delighted to join Accruit’s veteran attendees at the conference.

Darcy shared that, “Having the opportunity to surround myself with other industry professionals and colleagues was amazing. The wealth of knowledge was cool to see and even though a lot of us are competitors, you could feel that we all came together to support each other and our love for 1031’s!”

Noah noted that the FEA Annual Conference was, “An excellent opportunity to meet others new to the FEA, and the speakers emphasized the importance of getting involved. Their encouragement inspired me to join the Membership Committee, which I’m excited about!”

1031 Achievements and Recognition

We are thrilled to announce that at the FEA Annual Conference David Gorenberg, Educational and Technical Director, was recognized for his involvement in the 1031 Exchange industry as a recipient of the prestigious Margo McDonnell Certified Exchange Specialist® Perpetual Award. This award is based on peer nominations and given to an individual who has demonstrated outstanding dedication and made exceptional contributions to the 1031 Exchange industry. “In his usual humble way, David was very surprised when he received the richly deserved award. Aside from being a great human being and serving as a past President of the FEA, it really is the pinnacle of David's career,” said Max Hansen.

David has over 30 years' experience involved in the 1031 industry, he is a current member and past president of the FEA and co-chair of the FEA Ethics Committee. His contributions include lecturing at the Real Estate Investment Securities Association, National Association of REALTORS®, and multiple FEA Conferences amongst many others.

David wasn’t the only member of Accruit to be recognized for his contributions and commitment to the 1031 Exchange industry at the Annual Conference. Steve Holtkamp was elected to a 2nd term on the FEA Board of Directors and was also asked to serve as the FEA’s incoming Treasurer and Secretary. Reflecting on his involvement, Steve shared, “I was on the Finance Committee and really enjoyed participating and was able to provide a lot of value on that front given my background, so it was my pleasure to step into the role of Treasurer.” He hopes to further his leadership journey, adding, “Hopefully I get the opportunity to serve as President in two years.”

Exchange Manager Pro^SM, Patented 1031 Exchange Workflow Software

At the FEA Conference Exhibit Hall, Accruit Technologies, led by Marita Kazos and Dave Tornell, proudly showcased Exchange Manager Pro℠, patented 1031 Exchange workflow software, to fellow 1031 industry peers and Qualified Intermediaries. The conference provided the Accruit team an opportunity to connect with Exchange Manager Pro^SM clients, as well as some clients of Managed Service, integrated 1031 Exchange program. The Business Development team discussed success stories, plans for the future of the technology and strengthened partnerships. According to Marita, there was a lot of buzz surrounding Exchange Manager Pro℠, as she had multiple current clients come to the booth to say that they love the software, as well as prospective interest from other QIs. The Accruit team deeply values recognition received from fellow 1031 industry professionals and the positive feedback from our clients and peers regarding our software solutions and dedication to outstanding service. This motivates us to continue striving for excellence, be a leader in the industry and continue to revolutionize 1031 at every step.

Business First, Fun Included

The FEA Annual Conference was not only an incredible event for 1031 education, industry discussions, and business development, but also a fantastic opportunity to connect with fellow 1031 professionals, foster relationships, and enjoy some fun together.

Our very own CEO, Brent Abrahm, coordinated the 2nd annual charity bike ride in support of the John Lockhart Foundation, a local charity that supports vulnerable children in the Austin area as well as raises awareness for colon cancer. The 20-mile ride in the Southern Walnut Creek area included riders from Chicago Deferred Exchange Corp, Clark Wealth Management, HUB 1031, Hogan Land Title Company, First American Exchange, National Realty Exchange, and Encore Bank. The ride resulted in the group raising just under $1,000 for the cause. A highlight of this bike ride was Lance Armstrong cycling past the group – sighting confirmed by Strava, an exercise tracking app.

The 2024 FEA Annual Conference was an outstanding event for not only Accruit, but the entire 1031 Exchange industry. It was filled with insightful discussions, meaningful recognition, and valuable networking opportunities. Beyond the professional achievements, the conference was a reminder of the strength and camaraderie within the 1031 community. We look forward to building on this momentum and seeing everyone again at next year’s conference!

IRS Announces Tax Relief for Illinois Taxpayers Impacted by Severe Storms

meredithb@accruit.com — Tue, 01 Oct 2024 15:13:06 +0000

IRS Announces Tax Relief for Illinois Taxpayers Impacted by Severe Storms

meredithb@accr… Tue, 10/01/2024 - 15:13

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IRS Announces Tax Relief for Illinois Taxpayers Impacted by Severe Storms

Due to severe storms, tornadoes, straight-line winds and flooding, the IRS has issued Tax Relief for counties within Illinois.

Affected Taxpayers have until February 3, 2025, to make tax payments and file for various individual and business tax returns.

Currently, all individuals and households that reside in or have a business within Cook, Fulton, Henry, St. Clair, Washington, Will, and Winnebago counties in Illinois qualify for tax relief. Any area added to the disaster area at a later time will also qualify for tax relief.

An “Affected Taxpayer” includes individuals who live, and businesses whose principal place of business is 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.

Visit for full details on the tax relief .

UPDATE: IRS Announces Tax Relief for Taxpayers Impacted by Hurricane Debby

meredithb@accruit.com — Thu, 19 Sep 2024 10:00:13 +0000

UPDATE: IRS Announces Tax Relief for Taxpayers Impacted by Hurricane Debby

meredithb@accr… Thu, 09/19/2024 - 10:00

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UPDATE: IRS Announces Tax Relief for Taxpayers Impacted by Hurricane Debby

Due to Hurricane Debby, the IRS has issued Tax Relief for counties within Georgia, Florida, North Carolina, South Carolina, Vermont, and Pennsylvania.

Affected Taxpayers have until February 3, 2025, to make tax payments and file for various individual and business tax returns.

Currently, all individuals and households that reside in or have a business within South Carolina, Vermont, 61 named counties in Florida, 55 counties in Georgia, 66 counties in North Carolina, and 4 counties in Pennsylvania qualify for tax relief. Any area added to the disaster area at a later time will also qualify for tax relief. Visit for a full list of counties and later added Pennsylvania counties

An “Affected Taxpayer” includes individuals who live, and businesses whose principal place of business is 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.

Visit for full details on the tax relief for Hurricane Debby and Pennsylvania counties added as of September 18th, 2024.

IRS Announces Tax Relief for Louisiana Taxpayers Impacted by Hurricane Francine

meredithb@accruit.com — Fri, 13 Sep 2024 14:45:41 +0000

IRS Announces Tax Relief for Louisiana Taxpayers Impacted by Hurricane Francine

meredithb@accr… Fri, 09/13/2024 - 14:45

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IRS Announces Tax Relief for Louisiana Taxpayers Impacted by Hurricane Francine

Due to Hurricane Francine, the IRS has issued Tax Relief for the entire state of Louisiana.

Affected Taxpayers have until February 3, 2025, to make tax payments and file for various individual and business tax returns.

Currently, all individuals and households that reside in or have a business within the entire state of Louisiana qualify for tax relief. Any area added to the disaster area at a later time will also qualify for tax relief.

An “Affected Taxpayer” includes individuals who live, and businesses whose principal place of business is 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.

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). 

Visit for full details on the tax relief for Hurricane Francine.

Company and Industry News

IRS Announces Tax Relief for Tennessee and Arkansas Taxpayers Impacted by Severe Storms

IRS Announces Tax Relief for Tennessee and Arkansas Taxpayers Impacted by Severe Storms

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IRS Announces Tax Relief for Tennessee and Arkansas Taxpayers Impacted by Severe Storms

Due to severe storms, straight-line winds, tornadoes and flooding that occured in early April, the IRS has issued Tax Relief for the entire states of Tennessee of Arkansas.

BLOG UPDATES

Celebrating 25 Years of Accruit: A Journey of Transformation and Growth

Celebrating 25 Years of Accruit: A Journey of Transformation and Growth

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Celebrating 25 Years of Accruit: A Journey of Transformation and Growth

The Early Years: Pioneering Personal Property Exchanges

Adapting to Change: The Tax Cuts and Jobs Act of 2017

The People Behind Accruit’s Success: Building an Industry-Leading Team

Leading Through Change and Looking Ahead: The Future of Accruit

A Message to Employees, Clients, and the 1031 Exchange Industry

BLOG UPDATES

IRS Announces Tax Relief for West Virginia Taxpayers Impacted by Severe Storms

IRS Announces Tax Relief for West Virginia Taxpayers Impacted by Severe Storms

BLOG

IRS Announces Tax Relief for West Virginia Taxpayers Impacted by Severe Storms

Due to severe storms, straight-line winds, flooding, landslides and mudslides, the IRS has issued Tax Relief for counties within West Virginia.

BLOG UPDATES

The IRS Announces Tax Relief for California Taxpayers Impacted by Wildfires

The IRS Announces Tax Relief for California Taxpayers Impacted by Wildfires

BLOG

The IRS Announces Tax Relief for California Taxpayers Impacted by Wildfires

Due to California wildfires, the IRS has issued Tax Relief for Los Angeles County.

BLOG UPDATES

2024 A Year in Review

2024 A Year in Review

BLOG

2024 A Year in Review

BLOG UPDATES

IRS Announces Tax Relief for Taxpayers in Florida, Alabama, Georgia, North Carolina, South Carolina, and counties in Tennessee and Virginia Impacted by Hurricanes Milton and Helene

IRS Announces Tax Relief for Taxpayers in Florida, Alabama, Georgia, North Carolina, South Carolina, and counties in Tennessee and Virginia Impacted by Hurricanes Milton and Helene

BLOG

IRS Announces Tax Relief for Taxpayers in Florida, Alabama, Georgia, North Carolina, South Carolina, and counties in Tennessee and Virginia Impacted by Hurricanes Milton and Helene

Due to Hurricanes Milton and Helene, the IRS has issued Tax Relief for Florida, Alabama, Georgia, North Carolina, South Carolina, and counties in Tennessee and Virginia.

BLOG UPDATES

Accruit Recap of FEA Annual Conference 2024

Accruit Recap of FEA Annual Conference 2024

BLOG

Accruit Recap of FEA Annual Conference 2024

1031 Exchange Industry Education and Involvement

1031 Achievements and Recognition

Exchange Manager ProSM, Patented 1031 Exchange Workflow Software

Business First, Fun Included

BLOG UPDATES

IRS Announces Tax Relief for Illinois Taxpayers Impacted by Severe Storms

IRS Announces Tax Relief for Illinois Taxpayers Impacted by Severe Storms

BLOG

IRS Announces Tax Relief for Illinois Taxpayers Impacted by Severe Storms

Due to severe storms, tornadoes, straight-line winds and flooding, the IRS has issued Tax Relief for counties within Illinois.

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UPDATE: IRS Announces Tax Relief for Taxpayers Impacted by Hurricane Debby

UPDATE: IRS Announces Tax Relief for Taxpayers Impacted by Hurricane Debby

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UPDATE: IRS Announces Tax Relief for Taxpayers Impacted by Hurricane Debby

Due to Hurricane Debby, the IRS has issued Tax Relief for counties within Georgia, Florida, North Carolina, South Carolina, Vermont, and Pennsylvania.

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IRS Announces Tax Relief for Louisiana Taxpayers Impacted by Hurricane Francine

IRS Announces Tax Relief for Louisiana Taxpayers Impacted by Hurricane Francine

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IRS Announces Tax Relief for Louisiana Taxpayers Impacted by Hurricane Francine

Due to Hurricane Francine, the IRS has issued Tax Relief for the entire state of Louisiana.

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