Tax Pros Excited About Opportunity Zones But Want Clarity
Law360 (April 27, 2018, 7:56 PM EDT) -- While a new program created under the federal tax overhaul that aims to provide tax benefits to investors for building and creating jobs in low-income areas is expected to succeed, many tax experts want more guidance from the IRS before projects are planned and executed.
When President Donald Trump signed the Tax Cuts and Jobs Act, P.L. 115-97, the law produced the opportunity zone program, a tax incentive for investors to allocate unrealized capital gains into investments made exclusively in low-income communities.
The policy behind the new program is to help distressed communities by generating new investments, businesses and jobs in places...
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