IRS Delays OZ 180-Day Investment Deadline Until July 15 Due to COVID-19 Pandemic
The Internal Revenue Service yesterday extended the 180-day deadline to invest capital gains in qualified opportunity funds to July 15 for taxpayers whose deadline falls between April 1 and July 15, due to the COVID-19 pandemic. Notice 2020-23 permits taxpayers with deadlines that fall in that period to automatically postpone their investment deadline. The relief is automatic.
For community development, affordable housing and renewable energy updates related to COVID-19, see Novogradac’s dedicated page.