Opportunity Zone news and insights
What changed, what it means, and what to do next. Breaking Opportunity Zone news from Treasury, the IRS, and the states, plus Ashley Tison's take, in plain English.
Opportunity Zone deadlines between now and January 1, 2027These are the Opportunity Zone deadlines that matter between now and January 1, 2027. The last two months of 2026 are the busiest the program has ever had. The original deferral ends, the new map gets certified, and a new…Read more →The OZ 2.0 map: nominations closed October 28. Here is where it standsThe OZ 2.0 map is no longer a guess. The extended deadline for governors to nominate census tracts closed on October 28, 2026, and every state and territory has now filed its list. Two states are certified. The rest are…Read more →Your own Opportunity Zone fund or a sponsor’s fund? How to chooseA captive Opportunity Zone fund is one you own and control: you pick the deal and the exit, and you carry the compliance or hire it out. A sponsor's fund pools your money with other investors and the sponsor runs…Read more →Before you invest: when an Opportunity Zone does not make senseAn Opportunity Zone is a ten-year commitment with real compliance work. It may not make sense if you need the money back soon, the deal only works because of the tax break, the gain is small and the fund is…Read more →What investors are asking before December 31At the October 22 Ask the Sherpa webinar, four questions came up again and again: whether a valuation discount can shrink the December 31 bill, how to offset that bill, whether a working capital plan will hold up, and what…Read more →Treasury certifies the first OZ 2.0 zones: Idaho’s 25 tractsTreasury certified all 25 of Idaho's nominated tracts, 9 rural and 16 urban, making them the first official OZ 2.0 Opportunity Zones in the country. They take effect January 1, 2027.Read more →Treasury gives every state 30 more days to nominate OZ 2.0 zonesTreasury gave every state and territory an automatic 30-day extension to nominate OZ 2.0 zones, moving the deadline from September 28 to October 28, 2026. It also opened a narrow path for some tracts that were not on the eligible…Read more →The IRS asks for comments on the next round of Opportunity Zone rulesIn Notice 2026-55, released September 22, 2026, the IRS asked for public comments on how to write the next round of Opportunity Zone rules, including single-family homebuilding, changes to working capital plans, operating businesses, and the ten-year election. Comments are…Read more →Proposed regs: Form 8996 becomes a yearly information return, with real penaltiesTreasury and the IRS proposed rules that turn Form 8996 into a yearly information return with much more detail, require QOZBs to send their fund a sworn statement each year, widen investor reporting, set one path to decertify a fund,…Read more →The IRS rebuilt Form 8997 for the December 31 tax billThe IRS posted a draft of the new Form 8997, the yearly statement every Opportunity Zone investor files. It adds a section for recognizing the remaining deferred gain at the end of the deferral period, with a fair market value…Read more →Notice 2026-40: what happens to zones that do not make the new mapIRS Notice 2026-40 describes rules the IRS intends to propose for original zones that do not carry into OZ 2.0. New property there after 2026 generally will not count unless the business adopted a written working capital plan by December…Read more →
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