LKE Coalition Letter to Treasury Secretary Mnuchin and IRS Regarding Notice 2020-23 and COVID 19 1031 Modifications

Issue Date: April 20, 2020


On April 20, NAR as part of a coalition of real estate and financial organizations sent a letter to Secreatary Mnuchin and cc'ing the IRS. The letter:

  • Requests clarification regarding the confusion about the 1031 relief included in IRS Notice 2020-23;
  • Asks for an additional 120-days of relief (in case that was not already included in the Notice); and
  • Asks for retroactive relief for any investors who might have not been able to meet one of the 1031 deadlines that fell between March 13 and March 31.