IRS Relaxes Opportunity Zone Investment Requirements (2)

June 4, 2020, 8:32 PMUpdated: June 4, 2020, 10:04 PM

Investors seeking tax breaks for pouring money into projects in opportunity zones received widely requested relief from the Treasury Department amid the economic havoc wreaked by the coronavirus pandemic.

The 2017 tax law created capital gains tax breaks for investors who funnel profits from stocks, bonds, and other assets into funds that finance projects in nearly 9,000 census tracts designated as opportunity zones.

  • The guidance (Notice 2020-39), released Thursday, confirms a two-year extension of the period in which businesses financed by the funds have to spend their cash and a one-year extension of the time ...

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