List of population census tracks as opportunity zones | KPMG | US
Share with your friends

Notice 2018-48: List of population census tracks as opportunity zones

List of population census tracks as opportunity zones

The IRS today released an advance version of Notice 2018-48 that lists the population census tracts designated by the Treasury Secretary as qualified opportunity zones.


Related content

Notice 2018-48 [PDF 3.87 MB] is 383 pages, and reflects the complete list of opportunity zone designations pursuant to measures in the new tax law (Pub. L. No. 115-97, enacted December 22, 2017). The U.S. Treasury’s Community Development Financial Institutions Fund (CDFI Fund) on June 14, 2018, released the complete list of opportunity zones and noted that this list would also be provided in a future edition of the Internal Revenue Bulletin (IRB)—hence today’s IRS notice (which will appear in the IRB).

Earlier this month, the IRS updated a list of “frequently asked questions” (FAQs) concerning opportunity zone rules under the new tax law. Read TaxNewsFlash


The new U.S. tax law (Pub. L. No. 115-97) generally provides for the temporary deferral and potential for partial exclusion of gains reinvested in a qualified opportunity fund and the permanent exclusion of gains from the sale or exchange of an investment held for at least 10 years in a qualified opportunity fund. 

  • A qualified opportunity fund is an investment vehicle self-certified by the taxpayer as a qualified opportunity fund, and organized as a corporation or a partnership for the purpose of investing in and holding at least 90% of its assets in qualified opportunity zone property. 
  • Qualified opportunity zone property includes any qualified opportunity zone stock, any qualified opportunity zone partnership interests, and any qualified opportunity zone business property.  


For more information, contact a tax professional with KPMG’s Washington National Tax:

Susan Reaman | + 1 (202) 533-3541 |

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Request for proposal