What’s next for Opportunity Zones? IRS issues much anticipated proposed regulations

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Real estate developers, fund sponsors, and property owners have been eagerly awaiting guidance on the new Qualified Opportunity Zone (QOZ) provisions included in last December’s Tax Cuts and Jobs Act. On Oct. 19, 2018, the IRS issued the proposed regulations, which include some favorable rules that should make the QOZ incentive a powerful tool for raising money or making investments in QOZs. By way of background, the new QOZ incentive provision allows taxpayers who recognize a gain from the sale...

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