The original headline is: "IRS Issues Notice 2026-40, Providing Transition Guidelines to Opportunity Zone Projects"

Short summary

IRS Notice 2026-40 provides transition relief for Qualified Opportunity Zone projects as QOZ 1.0 census tracts expire Dec. 31, 2028, and QOZ 2.0 zones take effect Jan. 1, 2027. The notice enables QOZ 2.0 investors to invest in QOZ 1.0 projects, extends compliance safe harbors through 2047, and allows continued investment in QOZ 1.0 zones if conditions are met by Dec. 31, 2026.

• •QOZ 1.0 zones expire Dec 31, 2028; QOZ 2.0 zones effective Jan 1, 2027
• •Notice allows continued investment in QOZ 1.0 projects with conditions met by Dec 31, 2026
• •Compliance safe harbors for expired QOZ 1.0 zones extend through 2047

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