NCSHA Letter Seeks Further IRS Guidance on OZ Issues

Friday, October 26, 2018 - 9:30am

The National Council of State Housing Agencies (NCSHA) submitted a letter to the Internal Revenue Service asking for guidance clarifying that residential real estate property qualifies as opportunity zones (OZs) property and addressing five other OZ issues. The NCSHA letter also asked for confirmation that the OZ incentive can be combined with various tax credits, sought reporting requirements for OZ investments and asked for guidance on whether OZ investments qualify for Community Reinvestment Act credit.