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.