On the eve of Super Tuesday, where does each Democratic Presidential candidate stand on Opportunity Zones? Federal Opportunity Zones legislation initially had broad bipartisan, bicameral support. Eventually, it was packaged as part of President Trump’s landmark tax legislation. The Tax Cuts and Jobs Act (TCJA) passed along partisan lines in December 2017. And in the … Read more
Opportunity Zone investing offers two little-known hidden benefits that almost no one talks about. First, let’s review the three main tax benefits: When you roll over capital gains into a Qualified Opportunity Fund within 180 days, you are able to defer recognition of that gain until December 31, 2026. (The tax bill on this initial … Read more
The Opportunity Zone Catalyst Grand Prize Winners of the Forbes OZ 20 were announced earlier today at Sorenson Impact Center’s Winter Innovation Summit in Salt Lake City, UT. The City of Erie and Opportunity Alabama emerged as the top two Community Organizations. The SoLa Impact Fund and Four Points Funding were named the top two … Read more
The long wait is over. IRS has issued final regulations on Qualified Opportunity Funds, nearly two years after the Opportunity Zone initiative was enacted into law as part of the 2017 Tax Cuts & Jobs Act. Click here to read the complete draft of the final regulations. The final regulations are a modification and merger … Read more
The Office of Information and Regulatory Affairs (OIRA) is reporting that its review of the final IRS regulations on Qualified Opportunity Funds has concluded. According to OIRA’s website, the review concluded on December 17 (RIN #1545-BP04). A draft of the final regulations should be posted to IRS.gov very soon, possibly later today or tomorrow. The … Read more
The IRS has completed final regulations on Qualified Opportunity Funds and has sent them to the White House for review. The final set of regulations will merge and clean up the first and second tranches of proposed guidance. The final version is expected to be over 500 pages in length. The regulations are now under … Read more
As 2019 winds down and the full benefit of the Opportunity Zones tax incentive expires, here are some key dates for investing in Opportunity Zones — past and future. Note: as IRS regulations are not yet finalized, these dates are subject to change. February 2, 2017: The Investing in Opportunity Act is introduced in the … Read more
Here are five of the most intriguing Opportunity Zones articles from the past week or so. Several articles, notably the big New York Times piece from August 31, were critical of the OZ program and how little it has helped low-income communities so far. How a Trump Tax Break to Help Poor Communities Became a … Read more
The staffs of the Securities and Exchange Commission and the North American Securities Administrators Association (NASAA) have issued preliminary guidance on how Qualified Opportunity Fund (QOF) investing may be subject to securities law. The joint statement issued last week is not official rules or regulations, and therefore has no legal force. It is merely a … Read more
On Tuesday, July 9, approximately 100 people attended the auditorium at the IRS New Carrollton Federal Building just outside of Washington DC as 19 groups of Opportunity Zone stakeholders testified during the public hearing on proposed regulations: “Investing in Qualified Opportunity Funds” [REG-120186-18]. This was the second hearing on proposed IRS regulations, following the second … Read more