These are unprecedented times and Asset Preservation, Inc. (API) wants you to know that it continues to monitor the impact coronavirus (COVID-19) has on our country, business, customers, and employees. API has taken a number of actions to respond to this extraordinary situation so it is able to safely continue to serve its 1031 exchange customers and provide its excellent service.

Currently, API is not aware of any extensions of the 1031 exchange timing deadlines. Thus, taxpayers currently in a 1031 exchange should plan to proceed and follow the normal timing deadlines and requirements. API suggests that these taxpayers and their tax and legal advisors carefully review any IRS news releases regarding tax relief in disaster situations.

API remains open for business to handle your transactions. API continues to monitor whether considerations for granting extensions are under consideration by Congress and the IRS and will announce any extensions to the 1031 exchange deadlines if and when granted.

If you have questions regarding our qualified intermediary (QI) services, please contact your exchange counselor directly or contact us via email at info@apiexchange.com or via telephone at 800-282-1031.

We wish only the best for you and your families, and pray for a speedy resolution.

Sincerely,