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ARTICLE · 23 OCTOBER 2018

Opportunity Zones Guidance Released By Treasury

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Today, the Department of Treasury released the first set of proposed regulations and a related revenue ruling for the opportunity zone incentives created by the Tax Cuts and Jobs Act of 2017,

United StatesFinance and Banking
Ashley Wicks
Ashley Wicks
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Today, the Department of Treasury released the first set of proposed regulations and a related revenue ruling for the opportunity zone incentives created by the Tax Cuts and Jobs Act of 2017, which was enacted December 22, 2017.

The proposed regulations address: (i) the types of gains that may be deferred by investors, (ii) the timing to invest such gains in qualified opportunity funds (QOF), and (iii) the manner to elect deferral of such gains. The proposed regulations also provide guidance for self-certification of the QOF, valuation of QOF's assets and qualified opportunity zone businesses. Treasury will accept comments for 60 days. It is anticipated that additional guidance will be released by Treasury in 2019.

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