Request for Information on Data Collection and Tracking for Qualified Opportunity Zones
On April 16, 2019, the Department of the Treasury (Treasury) published this Notice and Request for Information to seek public input on the development of public information collection and tracking related to investment in Qualified Opportunity Funds (QOFs). Section 13823 of the Tax Cuts and Jobs Act, Pub. L. 115-97, 131 Stat. 2054, 2184 (2017) (TCJA), amended the Internal Revenue Code to add sections 1400Z-1 and 1400Z-2. Sections 1400Z-1 and 1400Z-2 seek to encourage economic growth and investment in designated distressed communities (Qualified Opportunity Zones) by providing federal income tax benefits to taxpayers who invest in businesses located within these zones through a QOF.