OPPORTUNITY ZONES

IRS Provides Coronavirus-Related Relief for Qualified Opportunity Funds, Investors

The IRS has provided new relief for qualified opportunity zone (QOZ) investors and qualified opportunity funds (QOFs) in response to the ongoing COVID-19 pandemic. 180-Day Investment Window Opens Wider On April 9, 2020, the Department of the Treasury and the IRS provided relief to taxpayers affected by the COVID-19 emergency by postponing due dates with [...]

IRS Issues Finalized Opportunity Zone Regulations

The Internal Revenue Service has issued final regulations (T.D. 9889) providing details about the tax treatment of investments in qualified opportunity zones (QOZs). This guidance modifies and finalizes proposed regulations that were issued on Oct. 28, 2018, and May 1, 2019. The Tax Cuts and Jobs Act (TCJA) created the opportunity zone as a new incentive for [...]

2020-01-21T13:48:43-06:00January 21st, 2020|INDIVIDUAL TAX, OPPORTUNITY ZONES|

How Does an Investment in an Opportunity Zone Affect Your Taxes?

Investors and developers have many questions about the opportunity zone program created by the Tax Cuts and Jobs Act of 2017. The following example gives some specifics about how these investments will be structured. Client An investor or developer has a qualifying gain of $1 million from the sale of a capital asset. She chooses [...]

2019-08-27T09:30:14-05:00July 2nd, 2019|INDIVIDUAL TAX, OPPORTUNITY ZONES|

Opportunity Zones: Open for Business

The Opportunity Zone provisions of the Tax Cuts and Jobs Act of 2017 (TCJA) have generated significant interest among taxpayers, particularly those who may have amounts to invest from recent capital transactions. Proposed regulations on the topic have caused further enthusiasm, as they appear to give taxpayer-friendly answers to some of the questions raised by [...]

Opportunity Zones are Knocking: Should You Answer?

Investment returns often reward the patient investor. And now, the federal government is doing the same. A provision of the Tax Cuts and Jobs Act (TCJA) sets up an incentive program for investors who are willing to take a chance on long-term investments in economically depressed areas. The U.S. Treasury Department and IRS recently issued [...]

2019-01-18T10:20:39-06:00October 24th, 2018|OPPORTUNITY ZONES, TAX REFORM: BUSINESS TAX|