Notice 2020-39 extended the working capital safe harbor by 24 months because of the Coronavirus crisis.
Ask A Question
What does the new IRS relief notice say about the ability to modify Working Capital Plans that were created prior to the COVID-19 crisis?
What does the new IRS relief notice say about the ability to modify Working Capital Plans that were created prior to the COVID-19 crisis?
Answers
Opportunity Zone investors have been given a lifeline that broadens the parameters of their playbook, but experts say they are still not out of the woods. The IRS has issued the new guidance in response to the ongoing COVID-19 pandemic that gives investors five more months to find projects that fit within the program’s guidelines.
DISCLAIMER:the information found on this website is intended to be general information; it is not legal or financial advice. Specific legal or financial advice can only be given by a licensed professional with full knowledge of all the facts and circumstances of your particular situation. You should seek consultation with legal and financial experts prior to participating in any aspect relating to Opportunity Zones. Posting a question on this website does not create an attorney-client relationship. All questions you post will be available to the public; do not include confidential information in your question.