News & Analysis as of

Qualified Opportunity Funds Tax Relief

Vinson & Elkins LLP

IRS Provides Additional COVID-19 Relief For Qualified Opportunity Funds

Vinson & Elkins LLP on

On June 4, 2020, the IRS released Notice 2020-39, which provides five key relief provisions for qualified opportunity funds (QOFs) and their investors in response to the ongoing COVID-19 pandemic: •Extends the time period...more

Proskauer Rose LLP

Coronavirus Tax Relief (Updated)

Proskauer Rose LLP on

On March 18, 2020, President Trump signed into law the Families First Coronavirus Response Act (H.R. 6201), and on March 27, 2020, he signed into law the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”)...more

Sullivan & Worcester

The Best Practice Remains "File on Time"

Sullivan & Worcester on

The Sullivan Opportunity Zone Practice Group has issued multiple advisories and alerts which stand for the proposition that "words matter." To that mantra, we add "deadlines matter, too." In a recent Private Letter Ruling...more

Neal, Gerber & Eisenberg LLP

New IRS Deadline for Additional Taxpayers, Plus Relief for Like-Kind Exchanges and Qualified Opportunity Zone Fund Investments

As we reported in our previous client alert, "Federal and State Tax Actions in Response to COVID-19," the IRS has extended until July 15, 2020, the deadline for filing income, gift and GST tax and information returns, and...more

Nossaman LLP

UPDATE 3 | COVID-19 Federal and California Tax Extensions

Nossaman LLP on

IRS Notice 2020-23 Grants Broad Relief Affecting Exempt Organizations, 1031 Exchanges, Qualified Opportunity Funds, And More. ...more

Rosenberg Martin Greenberg LLP

Key Tax Extensions for Real Estate Developers

The Department of Treasury and the Internal Revenue Service (the “IRS”) have issued IRS Notice 2020-23 (the “Notice”), which extends several deadlines that fall between April 1, 2020 and July 15, 2020. The IRS has changed...more

Sullivan & Worcester

IRS Updates Guidance on Filing and Payment Deadlines and Provides New Guidance Relating to Other Taxpayer Actions

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Yesterday, the Internal Revenue Service issued Notice 2020-23, which updates and amplifies its earlier guidance under Notice 2020-18 and Notice 2020-20, discussed in our earlier Client Alert. Compared to previous grants of...more

Jackson Walker

Treasury Releases Final Regulations for Investing in Qualified Opportunity Zones

Jackson Walker on

On December 19, 2019, the Treasury Department released final regulations on the Qualified Opportunity Zone (QOZ) program first enacted in the Tax Cuts and Jobs Act of 2017. Final regulations provide additional safe harbors...more

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