N-2022-43: Extension of Replacement Period for Livestock Sold on Account of Drought

Notice 2022-43 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, 2022. Taxpayers may use this list to determine if an extension is available.

Notice 2022-43 will be in IRB: 2022- 42, dated October 17, 2022.

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