IRS Guidance
On April 17, 2019 the IRS issued guidance relating to deferral of gains for investments in a qualified opportunity fund
On October 19, 2018 the U.S. Department of the Treasury released long-awaited guidance on Opportunity Funds and Opportunity Zone investments. The proposed regulations and revenue ruling are meant to address issues related to getting funds established and making investments.
December 19, 2019, the U.S. Treasury Department and the IRS today issued final regulations implementing the Opportunity Zones tax incentive. Opportunity Zones, created by the Tax Cuts and Jobs Act, offer capital gains tax relief for investments in economically distressed areas.