Can the government give an extension to those parties in a section 1031 exchange as a result of the coronavirus?

My primary goal as a Qualified Intermediary (QI) is to ensure that our client engages in a successful 1031 exchange, resulting in deferred capital gains taxes, etc.  1031 Exchanges are not successful every single time. So what happens when the transaction hits a glitch? Many times we find ourselves dealing with a client who wants their money back right now! Sometimes, we just can’t make that happen because there are strict 1031 Exchange disbursement rules.

As the Internal Revenue Code’s Section 1031 becomes more widely known across the country, many investors are discovering the advantages of 1031 Exchange investing.  Yet, some misinformed investors incorrectly believe that a Section 1031 tax-deferred exchange is a tax avoidance device for large corporations.  This lack of understanding undermines one of the tax code’s most effective components

Counting correct 1031 Exchange timelines is critical to successful transactions.

Today we discuss the issue of when the 45-day (for Identifying) and 180-day (last day to close on the purchase of replacement property) timelines in a Section 1031 exchange begin.