Lisa Starczewski, Bloomberg Tax (May 26, 2020): An Unexpected Gift in Opportunity Zone Correcting Amendments—Did This Really Just Happen?

Lisa Starczewski has made available her article, published in Bloomberg Tax, An Unexpected Gift in Opportunity Zone Correcting Amendments—Did This Really Just Happen?, published on May 26, 2020. The summary is as follows:

Created by the Tax Cuts and Jobs Act, the Opportunity Zones program offers significant tax incentives to encourage investment in certain designated low-income communities. Recently the Treasury and the Internal Revenue Service issued correcting amendments to the final opportunity zone regulations that are effective April 1, 2020, and applicable as of January 13, 2020.

Find out how one very significant sentence added to the regulations could make a huge impact through suspension of the 70% tangible property standard during working capital safe harbor periods. This change would give entities that intend to function as qualified opportunity zone businesses a true start-up period.

See full article by clicking Lisa Starczewski, Bloomberg Tax: An Unexpected Gift in Opportunity Zone Correcting Amendments—Did This Really Just Happen?

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal..

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