I have heard that some OZs shrank while others apparently disappeared. What happened and how will this impact my OZ investment and taxes?
The census tracts may have changed for the 2020 census, but any change to the OZs themselves would need to come through legislation. As of now, the OZs are the same. Watch out for whether Congress introduces a bill to officially change the OZs. From what I have heard, that is quite possible. If the OZs change, though, they will change prospectively, not retroactively.
The census tracts were established or designated back in 2018 based on the information of the 2010 Census. My understanding is that for that designation to change or be modified, new legislation has to be approved.
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