This revenue procedure provides guidance to the Chief Executive Officers (CEOs) of any State, about how certain population census tracts may be designated as Qualified Opportunity Zones for purposes of §§ 1400Z–1 and 1400Z–2 of the Internal Revenue Code. Specifically, this revenue procedure clarifies the nomination process under § 1400Z–1 by informing the CEOs of each State which census tracts in their jurisdictions are eligible to be nominated to be Qualified Opportunity Zones and by providing the requirements and due dates for the nomination, certification, and designation of the zones. Additionally, this revenue procedure provides a safe harbor for applying the 25 percent limitation to the number of population census tracts in a state that may be designated as Qualified Opportunity Zones.

Serves notice to potential donors of a stipulated decision by the United States Tax Court in declaratory judgment proceedings under Section 7428.

Serves notice to potential donors of a stipulated decision by the United States Tax Court in declaratory judgment proceedings under Section 7428.

Serves notice to potential donors of a stipulated decision by the United States Tax Court in declaratory judgment proceedings under Section 7428.

The IRS generally will not require a new exemption application from a domestic section 501(c) organization that changes its form or place of organization. Rev. Rul. 67–390 and Rev. Rul. 77–469 are obsoleted.

This Notice withdraws the solicitations in Notice 2015–12, 2015–10 I.R.B. 700, and Notice 2017–66, 2017–45 I.R.B. 487, for applications for the remaining unused national limitation of authority to issue new clean renewable energy bonds (New CREBs) under § 54C of the Internal Revenue Code (the Code). Section 54C of the Code was repealed by section 13404 of Public Law No. 115–97, 131 Stat 2138 (2017) (Public Law No. 115–97), effective for bonds issued after December 31, 2017.

In response to the devastation caused by Hurricane Maria to the Commonwealth of Puerto Rico, this notice expands the relief provided in Rev. Proc. 2014–49, 2014–37 I.R.B. 535, and Rev. Proc. 2014–50, 2014–37 I.R.B. 540. The expanded relief in this notice is limited to the Hurricane Maria PR Major Disaster (as defined in the notice). This notice also solicits public comment regarding any desirable amendments to Rev. Proc. 2014–49 and Rev. Proc. 2014–50.

This procedure modifies Rev. Proc. 2017–60, 2017–50 I.R.B. 559, to extend the time under the safe harbor for an individual to pay to repair damage to his or her personal residence resulting from deteriorating concrete foundations containing the mineral pyrrhotite.

This revenue procedure amends Rev. Proc. 2002–39, 2002–22 I.R.B. 1046, and Rev. Proc. 2006–45, 2006–45 I.R.B. 451, so as to prohibit specified foreign corporations (for purposes of section 965) with taxable years that end on December 31, 2017 from changing their annual accounting periods.