We are hearing that the official Guidance from the Treasury Department could be out by the end of the month. The hope is that the proposed regulations will be available so that investors can utilize this amazing tax incentive asap.

In addition, on August 23, 2018, the U.S. Conference of Mayors reached out to both the Internal Revenue Service (IRS) and U.S Department of Treasury asking for “timely and effective IRS guidance” for the implementation of opportunity zones provisions. With five specific reasons enumerated in the letter (click here to read it), the group made it clear it was critical that investors receive guidance as early as possible to facilitates affordable housing and investment in new and existing businesses in Opportunity Zones.