There’s plenty of enthusiasm for new U.S. tax breaks for investing in low-income communities designated as opportunity zones. But many people have delayed spending because of uncertainty about how the incentives will work.
The Trump administration sought to clear away those hurdles April 17 with new guidelines designed to meet investor wishes, while leaving unresolved some issues flagged by critics.
“The government really wants this to work,” said Jessica Millett, co-chair of the tax department at Duval & Stachenfeld LLP. “Treasury really did use its regulatory authority to interpret things to help investors.”
Lawyers, accountants and consultants will be poring...