Attorney Seeks Relief From Like-Kind Exchange Deadlines

From: Justin Rostoff <justinphiliprostoff@gmail.com>
Sent: Monday, March 30, 2020 1:23 PM
To: Notice Comments <Notice.Comments@irs.gov>
Subject: Rev. Proc. 2005-27

Good Afternoon —

I write in reference to Rev. Proc. 2005-27. In light of the current presidential declaration of national emergency due to COVID-19, I respectfully request that the IRS issue a newsletter and guidance officially extending all 1031 like-kind exchange deadlines pursuant to Rev. Proc. 2005-27.

I am involved in numerous 1031 exchanges that are under contract, with the owner seeking replacement property being in their 70s, on state lock-down, and unable to travel and perform due diligence for health and safety measures. Any extension due to the global pandemic would permit many individuals planning for their retirement and life savings from hitting default and being in financial limbo.

I very much appreciate your assistance and service,

Justin P. Rostoff, Esq.
617-955-0107