Tax reform created a significant new economic development tool, Qualified Opportunity Zones (QOZs), that encourages private investment in businesses, projects and commercial property located in designated census tracts. New IRC Sections 1400Z-1 and 1400Z-2 will allow real estate and other investors to defer current capital gains, significantly increase basis in long-term investments, and qualify for tax abatement by reinvesting capital gain proceeds in Qualified Opportunity Funds (QOFs).
In this Strafford Webinar, our panel will give real estate and finance counsel a working knowledge of QOZs and QOFs created under the 2017 tax reform and clarified by regulations released in December 2019. Topics also covered will include QOFs and Capital Gains and any updates from the Department of Treasury.
After our presentations, we will engage in a live question and answer session with participants so we can answer your questions about these important issues directly.
Use code: ZDFCA