“If your relinquished property closes between October 18, 2006 and December 31, 2006 your 180-day exchange period will extend beyond the April 15, 2007 tax filing deadline. As a taxpayer you are afforded the full 180 days to complete the exchange. This can be accomplished by filing an extension of your tax return on or before April 15th. Note of mention; in the event you happen to file your tax return prior to the expiration of the exchange period and have not acquired all of the identified replacement property then the exchange is treated as done as of the date of filing your tax return. In other words your exchange will be “toast”.