Treasury official answers questions on Opportunity Zones regulations

On March 12, the second tranche of IRS regulatory guidance on Qualified Opportunity Funds was submitted to the Office of Information and Regulatory Affairs. OIRA is a branch of the White House’s Office of Management and Budget. While the first tranche of regulatory guidance released in October of last year dealt primarily with real estate, … Read more

Recap of Feb 14 IRS public hearing on Opportunity Zones

This past Thursday, February 14, the IRS Auditorium in Washington DC was packed to capacity with over 200 attendees as stakeholders spoke during the public hearing on proposed regulations: “Investing in Qualified Opportunity Funds” [REG-115420-18]. Hearing participants requested additional guidance on a wide variety of proposed regulations, with many suggesting improvements to the regulations that … Read more

These 18 NFL stadium neighborhoods are eligible for the Opportunity Zones tax break

Introduced in December 2017 as part of President Trump’s Tax Cuts & Jobs Act, the Opportunity Zones program incentivizes real estate and business investments in certain low-income communities throughout the country by providing investors with major tax breaks, so long as certain requirements are met.

There are 15 NFL stadiums (out of 30 total) that are located in such Opportunity Zone communities, plus an additional 3 stadiums that are located adjacent to opportunity zones. NFL teams and stadium owners who invest in these communities could be eligible for tax breaks.

Read moreThese 18 NFL stadium neighborhoods are eligible for the Opportunity Zones tax break

Senators and Congressmen send OZ letter to Treasury, soliciting clarification

Last week, Senator Tim Scott (R-SC) — along with 15 other Senators and Congressmen — sent a letter to Treasury Secretary Steven Mnuchin, seeking clarification on several matters related to the Opportunity Zones tax policy, specifically in regards to investments in operating businesses, certain timing requirements, and community impact. The letter calls attention to five … Read more