Forrest David Milder with Nixon Peabody released this alert on the second round of Opportunity Zone Guidance released by the Department of the Treasury. The IRS has identified many spots in which it is seeking suggestions on how to address some pretty broad fact patterns and there are new concepts that call for further thought. For example, there’s a provision permitting one investor to sell its interest to another investor, with the latter qualifying for favorable O-Fund treatment, based on the amount paid to the first investor, something which isn’t obvious from the Code provision. Overall, the depth of the rules and the anticipation of potential problems and opportunity for abuse is exceptional. And this should do the trick of getting a lot more investors into the marketplace. There’s plenty enough guidance to satisfy even those who tend to over-worry their tax analysis.