Extended Deadlines for 1031 & Opportunity Zone Investors

  • Julianna Scruggs
  • 04/10/20

Investors who took the first step in a like-kind 1031 exchange, by selling the old property, may now have extended 45 or 180-day windows. If the 45 or 180-day window fell between April 1st and July 15th 2020, then your deadline is now July 15th.

Investors who sold a capital asset and planned to roll the gain over into an Opportunity Fund may also have a deadline extension. If you had a 180-day deadline for rolling over gains that previously fell between April 1st and July 15th 2020, now your deadline is July 15th 2020.

Sole proprietors who pay quarterly estimated taxes now have until July 15th to file your second quarterly payment without penalty. An earlier IRS notice also extended first quarter estimated tax payments to July 15th. To summarize, individuals and corporations who had estimated quarterly tax payments due on or after April 1st, 2020 and before July 15, 2020 can now wait to pay any such payments until July 15th, with no penalty. These deadline extensions have already been granted automatically, but those who prefer to pay on time certainly may.

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