An extension Notice for Grand Forks County, North Dakota has been issued by the Internal Revenue Service (Service). Related to the August 26th storms, this particular extension is related to Grand Forks County only. The Service may include other counties, depending on reports by the Federal Emergency Management Agency. Called Revenue Procedure 2007-56, section 17 the Service has stated that both of the following must be met: (1) The taxpayer is located in one of these counties or is otherwise an affected taxpayer as defined in the Notice, regardless of where the relinquished property or replacement property is located, or otherwise has difficulty meeting the exchange deadlines under the conditions in Revenue Procedure 2007-56, section 17; AND (2) The relinquished property was transferred (or the parked property was acquired by the EAT in a reverse exchange under Revenue Procedure 2000-37) on or before August 26th, 2007. IF the taxpayer meets these criteria, THEN any 45 day or 180 day deadline that falls within the period on or after August 26th, 2007 through November 15, 2007, is extended for 120 days from such deadline. It is unclear from the guidance if 180 deadlines falling after November 15, 2007 are also extended.