Treasury and the IRS sent IRS Newswire IR-2018-206 on October 19 announcing an advance version of proposed Opportunity Zone tax incentive regulations.
Posts on Opportunity Zones in NJ and theri impact on supportive housing and community development.
Opportunity Zones incentivize investors to help decrease poverty in distressed communities that have economic potential but high unemployment.
On May 17, 2018, Terri Ludwig, CEO of Enterprise Community Partners, testified before Congress concerning the new Opportunity Zones provision that included in the Tax Cuts and Job Acts of 2017.
Last week the IRS also published frequently asked questions (FAQs) about the Opportunity Zones tax incentive and clarified that a taxpayer can self-certify to become a qualified opportunity fund.