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Economic Development Internal Revenue Service Proposed Regulation

McDermott Will & Emery

The Domestic Content Bonus Credit’s Promising New Safe Harbor

McDermott Will & Emery on

On May 16, 2024, the Internal Revenue Service (IRS) published Notice 2024-41 (Notice), which modifies Notice 2023-38 (Prior Notice) by providing a new elective safe harbor (Safe Harbor) that will allow taxpayers to use...more

Jackson Walker

Treasury Releases Final Regulations for Investing in Qualified Opportunity Zones

Jackson Walker on

On December 19, 2019, the Treasury Department released final regulations on the Qualified Opportunity Zone (QOZ) program first enacted in the Tax Cuts and Jobs Act of 2017. Final regulations provide additional safe harbors...more

Arnall Golden Gregory LLP

Qualified Opportunity Zone Frequently Asked Questions

1. Who Can Invest? U.S. or foreign investors and pass-through entities recognizing U.S. capital gains. 2. What Type of Capital Gain Qualifies? Long term and short term capital gains qualify. ...more

Pillsbury - Gravel2Gavel Construction & Real...

Additional Guidance on Qualified Opportunity Zone Investments Provided by the IRS

On April 17, 2019, the IRS issued its much anticipated second tranche of guidance (the “2019 Proposed Regulations”) on the qualified opportunity zone (QOZ) program established by the 2017 Tax Cuts and Jobs Act. ...more

Tonkon Torp LLP

Opportunity Zones: A Threequel

Tonkon Torp LLP on

Last July, I wrote a blog post on opportunity zones and the importance to investors and professionals of forthcoming guidance from the IRS. The first chapter of that guidance was issued in October 2018, and was the subject of...more

Blank Rome LLP

IRS Publishes Second Set of Opportunity Zone Proposed Regulations

Blank Rome LLP on

The Internal Revenue Service and the Treasury Department recently released a second tranche of proposed regulations that provide additional guidance on the tax incentives of investing in opportunity zones, including the...more

K&L Gates LLP

Worth the Wait: Second Round of Opportunity Zone Proposed Regulations Clears the Way for Many OZ Investments

K&L Gates LLP on

After a lengthy drafting and protracted review process, the Department of Treasury (“Treasury”) has released its second set of proposed regulations (the “Second Round Regs”) providing guidance on the implementation of the...more

McDermott Will & Emery

Treasury Provides Additional Guidance on Opportunity Zone Provisions

The Tax Cuts and Jobs Act of 2017 introduced Opportunity Zone Provisions, IRC Sections 1400Z-1 and 1400Z-2, as an incentive to encourage investment in low-income communities. The provisions allow taxpayers to defer tax on...more

Bracewell LLP

Is the Opportunity Now a Reality? IRS and Treasury Release Second Tranche of Opportunity Zone Regulations

Bracewell LLP on

After months of waiting, the IRS and the Treasury Department have released a second set of proposed regulations (the “Second Tranche”) relating to the opportunity zone provisions enacted as part of the Tax Cuts and Jobs Act...more

Cole Schotz

Helpful IRS Proposed Regulations Issued on Qualified Opportunity Zone Funds

Cole Schotz on

On April 17, the IRS issued a second round of proposed regulations addressing qualification as a Qualified Opportunity Zone (QOZ) Fund and related issues. This latest guidance addresses several unanswered questions and...more

Holland & Hart LLP

Second Set of Opportunity Zone Proposed Regulations Contain Plethora of Guidance

Holland & Hart LLP on

The Treasury Department and Internal Revenue Service issued a second set of proposed regulations on the new “opportunity zone” tax incentive on April 17, 2019. This tax incentive encourages investment in certain distressed...more

Flaster Greenberg PC

Guide to the Surprises Lurking in the QOZ Proposed Regulations

Flaster Greenberg PC on

While mid-April is typically associated by most with Tax Day, this year, April 2019, also became the month the highly awaited second round of Qualified Opportunity Zone Proposed Regulations were issued....more

UB Greensfelder LLP

IRS Issues Long-Awaited Second Round of Opportunity Zone Regulations

UB Greensfelder LLP on

As part of the 2017 Tax Cuts and Jobs Act, Congress added a new provision to the Internal Revenue Code allowing investors to defer capital gains by making investments into Qualified Opportunity Funds (QOFs). However, many...more

A&O Shearman

Opportunity Zones: Second Set of Proposed Regulations Provide Clarity

A&O Shearman on

On Wednesday, April 17, 2019, the Treasury Department and the Internal Revenue Service issued a broad, investment-friendly second set of Proposed Regulations (the “Proposed Regulations”) regarding “Qualified Opportunity...more

McAfee & Taft

IRS releases second tranche of proposed Opportunity Zone regulations

McAfee & Taft on

On April 17, 2019, the IRS released the second set of proposed regulations (REG-120186-18) which include guidance on a number of issues that the McAfee & Taft Economic Development, Tax Credits and Business Incentives...more

King & Spalding

IRS and Treasury Release Second Round of Qualified Opportunity Zone Guidance

King & Spalding on

On April 17th, the IRS and Treasury issued the next (and long-awaited) package of proposed regulations (the “Proposed Regulations”) under the “qualified opportunity zone” provisions of Section 1400Z-2 of the Code...more

K&L Gates LLP

Opportunity Zones: Will Upcoming Proposed Regulations Be Business Friendly?

K&L Gates LLP on

Treasury decisions could make or break OZ for operating businesses - Eagerly anticipated proposed regulations addressing the eligibility of operating businesses to qualify for Opportunity Zone (OZ) benefits are in the final...more

Carlton Fields

Seizing the Opportunity with Qualified Opportunity Zones

Carlton Fields on

The December 2017 tax legislation commonly referred to as the Tax Cuts and Jobs Act (the Act) provides significant tax incentives for taxpayers to invest in certain low-income communities designated as Qualified Opportunity...more

Parker Poe Adams & Bernstein LLP

How Investors & Real Estate Developers Can Make the Most of Qualified Opportunity Zones

Real estate developers, institutional investors, local governments, and virtually anyone with capital gains could reap significant benefits under the Qualified Opportunity Zone (QOZ) program, which Congress created as part of...more

Brownstein Hyatt Farber Schreck

How Do Opportunity Zone Deals Really Work?

Expectations are high this year for “Opportunity Zones” in the real estate industry. A product of the Tax Cuts and Jobs Act, Qualified Opportunity Zones (QOZs) are expected to be one of the biggest trends to impact real...more

Kilpatrick

11 Key Features of the Opportunity Zone Program That You Might Have Overlooked

Kilpatrick on

Last month, the Treasury Department released proposed regulations (the “Regulations”). The Regulations included a number of important clarifications and guidance for investors seeking to take advantage of the opportunities...more

Sullivan & Worcester

Recent Opportunity Zone Guidance Gives Developers a Shot In the Arm

Sullivan & Worcester on

Clarification on Working Capital, Substantial Improvement and Use of Leverage will Drive Investment Activity - Developers intuitively understood the powerful nature of the new Opportunity Zone legislation, but their...more

Sheppard Mullin Richter & Hampton LLP

Opportunity Zones Update

Background – In December 2017, as part of the Tax Cuts and Jobs Act (“TCJA”), Congress established a new tax incentive program to promote investment in certain low-income communities designated by the IRS as qualified...more

Kilpatrick

Opportunity Zones

Kilpatrick on

This white paper is designed to summarize the federal Opportunity Zone program to industry professionals and potential market participants. We summarize for readers the program’s tax incentive structure, how investment...more

McGuireWoods LLP

NOVA Opportunity Zones — Perspectives for Real Estate Owners and Investors

McGuireWoods LLP on

The IRS and Treasury Department recently released proposed regulations providing guidance for investors looking to take advantage of the capital gains deferrals available in the opportunity zone program created under the 2017...more

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