IRS Issues Transitional Guidance on Opportunity Zones
The Internal Revenue Service released Notice 2026-40 on June 18, announcing that proposed regulations regarding qualified opportunity zones under Internal Revenue Code Sections 1400Z-1 and 1400Z-2 are forthcoming and providing long-anticipated transitional guidance relating to qualifying investments thereunder. The notice introduces planning opportunities that QOZs and investors must take before the end of this year,…