| *Kentucky Editor Tipoffs Newsletter for Tuesday October 07, 2025 ( 1 items ) |
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IRS Issues Notice on Extension of Replacement Period for Livestock Sold on Account of Drought
WASHINGTON, Oct. 7 -- The Internal Revenue Service issued the following notice (No. 2025-52) on Oct. 6, 2025, entitled "Extension of Replacement Period for Livestock Sold on Account of Drought".
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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 Conversion of Livest
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