What To Know About Building In Tax 'Opportunity Zones'
Law360 (October 24, 2018, 9:02 PM EDT) -- Certain low-income areas designated as “opportunity zones” are likely to see new buildings rise and old buildings get made over in the next year, now that recently proposed federal regulations clarify the tax incentives and breaks due to those who invest in such projects.
Despite the potentially sizable benefits opportunity zones offer investors, many have stuck to the sidelines, waiting for the government to answer questions about how the program will actually work, experts said. The Internal Revenue Service offered some guidance Friday, floating possible rules that would govern taxpayers’ ability to defer capital gains by putting money into these zones....
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