Opportunity Zone Guidance

Last week, just a few days after tax season ended, the IRS released their second round of proposed regulations for the tax reform’s Opportunity Zone Program. This program, which was passed as part of the Tax Cuts and Jobs Act of 2017, incentivizes taxpayers to fund investments in economically depressed areas by offering significant tax credits. Late last year, the IRS released their initial set of proposed regulations. These regulations were helpful, but they did not answer every question investors had, and many taxpayers were hesitant to invest in a qualified opportunity zone (QOZ) without more information. Fortunately, this second round of proposed regulations delves even deeper and addresses most taxpayers’ questions