In December 2019, the Treasury released final regulations for the opportunity zone program (the "Final Regulations") to refine and clarify certain aspects of the first two sets of proposed regulations and to make the rules easier to follow and understand.

The opportunity zone program was created as part of the Tax Cuts and Jobs Act signed into law in December 2017 as a new tax incentive program to spur economic growth and investment in designated distressed communities called opportunity zones ("OZs").

Originally published in the July/August 2020 edition of the WG&L Journal of Corporate Taxation (Vol. 47, No. 4).