The recent IRS proposal on opportunity zones provides much needed details on new reporting requirements, but investors still want more guidance on the mechanics of the newly expanded program — particularly which areas will be eligible — before it takes effect next year.
The popular opportunity zone program, created during the first Trump administration, encourages investments into low-income areas through tax breaks. The GOP’s 2025 tax-and-spending law made the program permanent, added benefits to rural investments, and created new reporting requirements.
The 121-page IRS proposal released Thursday gave more information on the information reporting requirements for qualified opportunity funds, …
