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Treasury and IRS Issue Final Regulations on Opportunity Zones

Washington –The U.S. Treasury Department and the IRS today issued final regulations implementing the Opportunity Zones tax incentive. Opportunity Zones, created by the Tax Cuts and Jobs Act, offer capital gains tax relief for investments in economically distressed areas. “Opportunity Zones are helping to revitalize communities and create jobs for hardworking Americans,” said Secretary Steven…

Opportunity Zones

Fairness and Opportunity for Hardworking Americans

https://home.treasury.gov/policy-issues/top-priorities/tax-cuts-and-jobs-act/fairness-and-opportunity-for-hardworking   Cutting red tape has been a core tenet of the Trump Administration’s economic policies. While the Tax Cuts and Jobs Act includes $5.5 trillion in gross tax cuts, it also includes $4 trillion in reforms, including the elimination of special-interest loopholes and protection of important tax benefits. The Act also created the federal…

What Are Opportunity Zones?

Opportunity Zones were added to the tax code by the Tax Cuts and Jobs Act on December 2017 with the purpose of spurring economic development and job creation in certain communities with private capital. Over 8,700 census tracts were certified as Opportunity Zones throughout the Unites States, including Puerto Rico and other US territories. A…