WASHINGTON, Sept. 11 -- Internal Revenue Service has issued a proposed rule called: Information Reporting Regarding Qualified Opportunity Zones and Updated Qualified Opportunity Fund Certification and Decertification Procedures.
The proposed rule was published in the Federal Register on Sept. 11 by Frank J. Bisignano, Chief Executive Officer.
Summary: This document contains proposed regulations that would implement new statutory requirements for qualified opportunity funds to file information returns with the IRS and furnish statements to investors who dispose of investments in those entities and for qualified opportunity zone businesses to furnish statements to qualified opportunity funds that hold interests in them. These proposed regul...