KPMG report: Second set of corrective amendments to qualified opportunity fund regulations
Corrective amendments to final qualified opportunity zone regulations under section 1400Z-2
Second set of corrective amendments to final qualified opportunity zone regulations
The U.S. Treasury Department and IRS on August 5, 2021, issued a second set of corrective amendments to the final qualified opportunity zone regulations under section 1400Z-2.
The August 2021 corrective amendments are effective August 5, 2021, and applicable on or after January 13, 2020 (the date when the final regulations were originally issued).
Read an August 2021 report [PDF 267 KB] prepared by KPMG LLP that focuses on the correction for which the qualified opportunity zone industry has long awaited—clarification of a special rule for start-up businesses using the working capital safe harbor.
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