Opportunity Zone Rules Application Is ‘All or Nothing': Official

An IRS official cleared up confusion about the effective date of final rules for the 2017 tax law’s opportunity zones incentives, saying adherence to the rules is an “all or nothing” matter.

Up to the rules’ effective date, investors putting money into tax-advantaged opportunity funds that finance developments in nearly 9,000 mostly low-income census tracts can either go entirely by the final rules, or follow parts of proposed regulations and their own interpretations of the law, Sarah Hoyt, attorney adviser in the Office of Associate Chief Counsel (Corporate), said Friday at a tax conference in Washington.

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