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06 April 2026

IRS releases guidance for states on nominating census tracts as Qualified Opportunity Zones

The IRS on April 6, 2026, in Revenue Procedure 2026-12, provided guidance to states, US territories and the District of Columbia for nominating census tracts as Qualified Opportunity Zones, effective January 1, 2027. The Revenue Procedure incorporates amendments to IRC Sections 1400Z-1 and 1400Z-2 made by the "One Big Beautiful Bill Act" (see Tax Alert 2025-1418). A Tax Alert is forthcoming.

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Published by NTD’s Tax Technical Knowledge Services group; Chris DeZinno, legal editor

Document ID: 2026-0797

 

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