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More Red Sand in the Hourglass of Oz: IRS Notice 2020-39 Provides Relief in Respect to Certain Key QOZ Deadlines
June 19, 2020
Mark Wisniewski
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Qualified Opportunity Zones, COVID-19
On Thursday, June 4, 2020, the Internal Revenue Service (the “IRS”) released Notice 2020-39 (the “Ozone Deadline Relief Notice”) which provides substantial relief to existing and prospective investors in qualified opportunity funds ("QOFs") to mitigate potential degradation of their investments resulting from disruptions to construction and development operations of QOZ projects attributable to the COVID-19 pandemic.