Treasury May Wait to Finalize Both Sets of Opportunity Zone Rules

The IRS and Treasury may not finalize the first set of rules on opportunity zones right away, instead opting to wait and finalize the first and second sets of rules.

“Treasury and the IRS may—with an emphasis on ‘may’—follow up with a third set of regulations,” Dan Kowalski, counselor to Treasury Secretary Steven Mnuchin, said April 25 during a conference in Denver.

Referring to the two already-released tranches of proposed rules, he said, “It may make sense to wait until comments have been received on all aspects of the incentives before finalizing.”

• The Internal Revenue Service released the second ...