OMB Begins Review of IRS Guidance on Opportunity Zones
The Office of Information and Regulatory Affairs (OIRA), a division of the White House Office Management of the Budget (OMB), on Wednesday received regulatory guidance for review from the Internal Revenue Service (IRS) concerning the opportunity zones incentive. A proposed rule from the IRS is expected to clarify several issues for investors in the new incentive. After the mandated review of at least 10 days, the OMB should release the guidance to be published in the Federal Register later this month.
The guidance and other OZ topics will be the focus of the Novogradac 2018 Opportunity Zones Conference, Oct. 2-3 in New Orleans.