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Proposed OZ Regulations, Request for Input to be Published Wednesday

Tuesday, April 30, 2019 - 9:15AM

The Internal Revenue Service will publish in Wednesday’s Federal Register its second tranche of proposed regulations for opportunity zones (OZ), which sets the end of the 60-day comment period for the proposed regulations on June 30. The Treasury Department will also publish a request for public input on the collection of information related to investments in qualified opportunity funds. The request states that the current version of IRS Form 8996 lacks sufficient information and an update of the form is expected. The requests seeks feedback on eight questions, including what data and other information should be collected, how to measure whether the opportunity zones incentive plays a role in investment and more. Comments about this information collection should be received by the Treasury Department by May 31.

Novogradac will host an OZ webinar May 14, during which panelists will provide an overview of the regulations for investors, fund managers and others.

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