IRS Issues Notice on Extension of Replacement Period for Livestock Sold on Account of Drought
October 13, 2026
October 13, 2026
WASHINGTON, Oct. 13 -- The Internal Revenue Service issued the following notice (No. 2026-54) entitled "Extension of Replacement Period for Livestock Sold on Account of Drought".
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REPLACEMENT PERIOD UNDER Sec. 1033(e)(2)(B)
Notice 2006-82, 2006-2 C.B. 529, provides for extensions of the replacement period under Sec. 1033(e)(2)(B). If a sale or exchange of livestock is treated as an involuntary conversion on account of drought and the taxpayer . . .
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REPLACEMENT PERIOD UNDER Sec. 1033(e)(2)(B)
Notice 2006-82, 2006-2 C.B. 529, provides for extensions of the replacement period under Sec. 1033(e)(2)(B). If a sale or exchange of livestock is treated as an involuntary conversion on account of drought and the taxpayer . . .