N-2023-67: Extension of Replacement Period for Livestock Sold on Account of Drought

Notice 2023-67 explains the circumstances under which the four-year replacement period under section 1033(e)(2) is extended for livestock sold on account of drought. The Appendix to this notice contains a list of counties that experienced exceptional, extreme, or severe drought conditions during the 12-month period ending August 31, 2023. Taxpayers may use this list to determine if an extension is available.

Notice 2023-67 will be in IRB: 2023-42, dated October 16, 2023.

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