The Novogradac Journal of Tax Credits today announced in a press release that it will debut a new section dedicated to opportunity zones in its September issue. The new section will report opportunity zones news, analysis and insights, and will feature stories about opportunity zone funds and investments.
The Opportunity Zones Coalition earlier this month sent a letter to David J. Kautter, the acting commissioner of the Internal Revenue Service, requesting guidance from the IRS and Treasury Department on important issues concerning the opportunity zones (OZ) incentive.
The Treasury Department should create “guardrails” for the opportunity zones incentive, according to a June 8 letter submitted by Sen. Cory Booker, D-N.J. Booker’s letter asked Treasury to take care in its oversight of qualified opportunity funds, calling for statements of intent from prospective funds and metrics to measure each fund’s performance.
The Treasury Department today issued Notice 2018-48, which lists the population tracts that are officially designated as qualified opportunity zones (OZs). Investors in the qualified OZs can defer tax on prior gains no later than Dec. 31, 2026. The final OZs were designated last week.
The Treasury Department today designated the final round of qualified opportunity zones (OZs) in four states: Florida, Nevada, Pennsylvania and Utah. Investors in qualified opportunity funds that invest in qualified OZs can defer tax on prior gains until no later than Dec. 31, 2026. With this final round, OZs have been designated in all 50 states, the District of Columbia and five U.S. possessions.
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