Nov. 21, 2025
IRS issues new guidance for rural opportunity zones legislation
Under new federal guidance, more than 3,000 rural tracts now qualify as opportunity zones, opening the door for investment in overlooked areas -- from California's Central Valley to remote corners of the country.
Phil Jelsma
Partner and Chair of the Tax Practice Team
Crosbie Gliner Schiffman Southard & Swanson LLC (CGS3)
Email: pjelsma@cgs3.com
Phil is chair of the tax practice team at CGS3. He is recognized as a leading joint venture and tax attorney, with a 30-year background in real estate exchange transactions, syndications, nonprofit corporations and international tax planning.
With a focus on spurring economic growth in underserved communities, opportunity zones (OZs) were created by the 2017 Tax Cuts and Jobs Act -- offering generous tax incentives for investors who put money into low-income census tracts across the country.
To date, the bulk of these zones have been in urban communities. But a core change brought about by the recently enacted "One Big Beautiful Bill" is a special definition of qualified opportunity zone (QOZ) investments in...
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