Commodity mutual funds have been given a three-month grace period to find investment alternatives to commodities. The Internal Revenue Service ruled last year that such mutual fund investments do not produce “qualifying income” that would provide investors with special tax benefits. The Wall Street Journal reports that some funds thought they could skirt regulations that bar mutual funds from investing in commodities by opting for derivatives that are based on a commodity index. The IRS, however, nixed that, and gave mutual funds until June 30 to find other investments that do meet the “qualifying income” standard. It hasn’t been easy for many mutual funds, according to the Journal. Recognizing this, the IRS has extended the deadline to Sept. 30.