| Tipoffs for Orangeburg, South Carolina (City) Newsletter for Saturday October 15, 2022 ( 1 items ) |
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IRS Issues Notice No. 2022-43 on Extension of Replacement Period for Livestock Sold on Account of Drought
WASHINGTON, Oct. 15 -- The U.S. Department of the Treasury's Internal Revenue Service issued the following notice (No. 2022-43), which appeared in IRS Internal Revenue Bulletin No. 2022-42 on Oct. 17, 2022:
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SECTION 1. PURPOSE
This notice provides guidance regarding an extension of the replacement period under Sec. 1033(e) of the Internal Revenue Code for livestock sold on account of drought in specified counties.
SECTION 2. BACKGROUND
.01 Nonrecognition of Gain on Involuntary Conversi
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