No Plan for Third Round of Opportunity Zone Rules, Officials Say

The IRS and Treasury Department have no plan for a third tranche of proposed regulations for the 2017 tax overhaul’s opportunity zone tax breaks, three officials said.

Officials indicated that they are instead leaning toward issuing sub-regulatory guidance to address remaining uncertainties and are figuring out how to address the fact that the second batch of proposed rules altered the first.

“I don’t know what would even be in a third reg,” said Treasury Tax Legislative Counsel Krishna Vallabhaneni.

He added that Treasury likely won’t finish the first set as-is, and then change those in a second set of ...