On October 19 the IRS issued proposed regulations and a revenue ruling about opportunity zones, which are an important tax incentive program in the major tax legislation enacted late last year. Although the guidance addresses many important issues, the IRS intends to issue further guidance on additional issues.
The opportunity zone program encourages investments in economically distressed qualified opportunity zones by allowing taxpayers to defer, and in some cases reduce or eliminate, tax on capital gains when they reinvest their gains within 180 days in qualified opportunity funds (“QOFs”). Opportunity zones are receiving a great deal of attention because of significant tax advantages.
https://ncbarblog.com/wp-content/uploads/2018/06/Blog-Header-1-1030x530.png00TAXhttps://ncbarblog.com/wp-content/uploads/2018/06/Blog-Header-1-1030x530.pngTAX2018-11-06 14:02:322018-11-06 14:04:04Qualified Opportunity Zones