Public Comment Public Comment on Reporting Requirements in Proposed Opportunity Zone Regulations
Brett Theodos, Brady Meixell
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The Department of Treasury solicited comments as part of the process for the proposed rule “Investing in Qualified Opportunity Funds, IRS REG-115420-18.” As the IRS considers revisions to Form 8996, we recommend they consider including additional Fund- and transaction-level reporting requirements. Following precedent from prior economic development incentives and programs, nonburdensome reporting requirements would answer questions of “who”, “what”, “when”, “where”, and “how much” for each Opportunity Zones investment. Without collecting this basic information, it will be difficult for IRS to fulfill its statutory evaluation obligations for Opportunity Zones.

Research Areas Economic mobility and inequality Wealth and financial well-being Neighborhoods, cities, and metros Taxes and budgets
Tags Employment and income data Federal urban policies Public and private investment Individual taxes Federal budget and economy Community and economic development Finance
Policy Centers Metropolitan Housing and Communities Policy Center