Announcement 2021-10: Qualified opportunity zone boundaries not affected by 2020 census

IRS Announcement 2021-10 clarifies that boundaries of designated qualified opportunity zones are not affected by the 2020 census.

U.S. qualified opportunity zones are not affected by 2020 census

The IRS today released an advance version of Announcement 2021-10 clarifying that the boundaries of designated qualified opportunity zones (QOZs) are not affected by the 2020 census.

Notice 2018-48 and Notice 2019-42 provided lists of the designated QOZs based on census tract numbers and census tract boundaries that existed as of the respective 2018 and 2019 publication dates of those notices. The census tract numbers and boundaries—as incorporated by reference into Notice 2018-48 and Notice 2019-42—were based on the 2010 decennial census, and those boundaries define the boundaries of the designated QOZs.

Announcement 2021-10 [PDF 81 KB] confirms that the boundaries of qualified opportunity zones (listed in Notice 2018-48 and Notice 2019-42) were established at the time they were designated and are not subject to change.

 

 

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.