Second Round of Opportunity Zone Rules Nearly Ready for Review

A second batch of proposed regulations governing the 2017 tax overhaul’s incentives for investing in impoverished areas should arrive at the White House’s regulatory review office in a matter of days, a Treasury official told Bloomberg Tax.

“I expect that OIRA gets them in the next few days, but they won’t be available until OIRA is done,” said Daniel Kowalski, counselor to Treasury Secretary Steven Mnuchin, referring to the Office of Information and Regulatory Affairs.

• The perks outlined in tax code Section 1400Z-2 allow investors to shield some of their money from capital gains taxes ...