Notice 2011-79 explains the circumstances under which the 4-year replacement period is extended for livestock sold on account of drought. The Appendix to this notice contains a list of counties that experienced exceptional, extreme, or severe drought conditions during the 12-month period ending August 31, 2011. Taxpayers may use this list to determine if an extension is available.
Notice 2011-79 will be published in Internal Revenue Bulletin 2011-41 on Oct. 11, 2011.
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