Opportunity Zone tax questions? IRS releases extended guidance on qualified opportunity fund relief

8 Feb 2021

In Notice 2021-10, the IRS released extended guidance and relief for various opportunity zone requirements during the COVID-19 pandemic.

The additional relief extends to both investors in an opportunity zone fund and those who are operating the qualified opportunity zone fund (QOF) or a qualified opportunity zone business (QOZB).

The QOF investment that taxpayers would have had to have made to satisfy the 180-day investment period that falls on or after April 1, 2020, and before March 31, 2021, is now postponed until March 31, 2021.

Click here to read full article from ReJournals.