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Opportunity Zones Today's Popular Updates Coronavirus/COVID-19

Ropes & Gray LLP

2025 Tax Legislation Update: One Big Beautiful Bill Act Narrowly Passes Senate

Ropes & Gray LLP on

The “One Big Beautiful Bill Act” (the “BBB”) was passed by the U.S. House of Representatives on May 22, 2025 (such version, the “House Bill”) as part of the Republican Congress’s reconciliation package. The BBB generally...more

Snell & Wilmer

Notice 2020-39: IRS and Treasury Ease Opportunity Zone Incentive Requirements in Response to the COVID-19 Crisis

Snell & Wilmer on

On June 4, 2020, Treasury and the Internal Revenue Service issued Notice 2020-39 (the Notice) modifying Notice 2020-23 and providing relief under Section 7508A of the Internal Revenue Code (Code). Under Code Section 7508A,...more

Cole Schotz

Relief For Qualified Opportunity Funds & Their Investors Affected By The COVID-19 Pandemic

Cole Schotz on

The IRS recently issued Notice 2020-39, which offers relief to both qualified opportunity zone funds (“QOFs”) and persons seeking to invest in QOFs who are affected by the global COVID-19 pandemic. Investors in QOFs who want...more

Saul Ewing LLP

IRS Notice 2020-39 Provides Significant COVID-19 Relief to Qualified Opportunity Zone Projects and Investors

Saul Ewing LLP on

In response to the ongoing COVID 19 pandemic, the IRS has given investors an extension of time to invest in Qualified Opportunity Zone projects, and has given Qualified Opportunity Funds (“QOFs”) and Qualified Opportunity...more

Greenberg Glusker LLP

IRS Grants Additional Relief for Qualified Opportunity Funds

Greenberg Glusker LLP on

On June 4, 2020, the IRS issued Notice 2020-39, which provides important relief to qualified opportunity zone investors (“QOZ Investors”), qualified opportunity funds (“QOFs”) and qualified opportunity zone businesses...more

Allen Matkins

Opportunity Zone Funds Granted Additional COVID-19 Relief

Allen Matkins on

The IRS has granted additional relief to Opportunity Zone Funds and their investors, under IRS Revenue Procedure 2020-34 (the Revenue Procedure). This new relief is much more generous than what had been previously granted. It...more

Williams Mullen

IRS Provides Much-Needed Relief for OZ Investors, QOFs and OZ Businesses

Williams Mullen on

In Notice 2020-39, which was released on Thursday, June 4, 2020, the IRS provided critical relief to qualified opportunity zone (OZ) investors, qualified opportunity funds (QOF) and OZ businesses due to the COVID-19...more

Lowndes

IRS Provides Much-Needed Opportunity Zone Relief

Lowndes on

On June 4, the IRS provided some much-needed relief to opportunity zone investors and qualified opportunity funds (QOFs) in response to the ongoing COVID-19 pandemic. Specifically, the IRS published Notice 2020-39, which...more

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