When will IRS release another update to make the regulation less confusing?
Nope. There will be no further updates to the regulations. What you see is what you get right now. There might be other categories of administrative guidance, like Revenue Rulings and Revenue Procedures, but the regulations will not be updated at all.
The IRS has released minor adjustments since finalization of the regulations, but we do not expect a full restatement unless there are changes made to the program under another tax reform agenda.
I am not aware of any IRS plans to issue new Opportunity Zone regulations in the near future and would not expect them to do so, given the comprehensiveness of the 2019 final regulations. The current IRS Priority Guidance Plan does not indicate that any new regulations are on the way.
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