Late last month (December, 2019) the final regulations for Opportunity Zones were published by the IRS. A recent story on Bloomberg Tax by Forrest Milder of Nixon Peabody LLP gives an overview of the final OZ regulations’ highlights and how the IRS addressed the many comments & suggestions. However, the author cautions that it will still take time for tax advisors to sort through all of the ins & outs, especially those issues left unaddressed and/or “under-addressed.” Indeed…
“…the IRS deserves a great deal of credit for working its way through so many comments and suggestions and applying an excellent measure of flexibility at many turns. At the same time, I think we can expect to uncover many more investment opportunities and obligations as we spend more time with the regulations and working through investments with taxpayers, developers, fund organizers and managers.”
Click here to read the full story at Bloomberg Tax.
Click here to read the final regulations at the IRS.
