IRS releases second tranche of opportunity zones guidance

The long-awaited second tranche of regulations on Investing in Qualified Opportunity Funds has been approved by OIRA and is now available for public comment.

Click here to read the new regulations.

The 169-page regulatory document is more than twice the size of the first tranche of guidance that was released last October and clarifies most of the outstanding questions that investors had on the tax policy enacted by the Tax Cuts & Jobs Act in December 2017.

In particular, there are several clarifications regarding qualifying business.

UPDATE 4/22/19: Real estate tax law expert Tony Nitti joined me on the Opportunity Zones Podcast to discuss the second tranche: Click here to listen now.

A third tranche of guidance is expected to react to bad actors and potentially clarify some additional reporting requirements later this year.

Jimmy Atkinson

Jimmy Atkinson

Hi, I'm Jimmy Atkinson... I founded OpportunityDb in August 2018. I'm a veteran Internet entrepreneur with a background in economics and Web marketing. I previously founded ETFdb.com. These days, I am passionate about impact investing and tax-advantaged investment opportunities. At the crossroads of these two ideals is the opportunity zones program, a place-based tax policy intended to economically transform some of the poorest areas of the United States with new real estate and business development.

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