Opportunity Zone Tax Rule Corrections Add Clarity—and Confusion

The Treasury Department pushed out a hodgepodge of corrections for its opportunity zone rules that polished some areas while further shrouding others in uncertainty, such as how and when investors can apply the proposed and final rules.

“It reminds me of an agreement or memo that I might write and then several days later, rereading it, saying, ‘Oh my god why did I say that,’ or ‘I could’ve said that better,’” said Richard L. Lieberman, senior counsel at the law firm Dykema Gossett PLLC in Chicago. “I viewed this as mostly a cleanup of things hanging out there ...