Among the newest revelations within the Tax Cuts and Jobs Act of 2017 are Opportunity Zones. The program intends to entice long-term private investments in distressed low-income communities by offering significant federal tax incentives to investors.
On this site, we strive to give taxpayers as much information as possible on this unique opportunity, of which anyone can take advantage.
Below are some resources to help you further understand the program, processes, timelines and opportunities. Bookmark this page for future reference, as we plan to add more information as it becomes available.
PICPA Podcast
February 10, 2020, The Pennsylvania Institute of Certified Public Accountants (PICPA) interviewed Chris Catarino, CPA, MT, and Steven Rossman, CPA, MST, to discuss a Qualified Opportunity Zones-related topic, 1031 Exchanges. Listen here
July 15, 2019, The Pennsylvania Institute of Certified Public Accountants (PICPA) interviewed Chris Catarino, CPA, MT, and Steven Rossman, CPA, MST, to discuss Qualified Opportunity Zones. Listen here.
The Tax Warriors® Webinar Series
June 5, 2019, "Opportunity Zone Structure & Timelines (with Royer Cooper Cohen Braunfeld)" Listen to the recorded webinar. Corresponding slides.
February 21, 2019, "The Experts Discuss Qualified Opportunity Zones" Listen to the recorded webinar
Articles
Tax Warrior Chronicles - Opportunity Zone Must-Knows Before Year-End - December 26, 2019
Tax Warrior Chronicles - The QOZ Wait is Over (For the Most Part) - April 26, 2019
Construction & Real Estate - Scouting Report - Opportunity Funds, While New, Merit Scrutiny- Spring 2019
The Philadelphia Inquirer - Opportunity Zones: Rules Finally Come Out, and Yup, They're Complex (But Manageable) - January 7, 2019
The Philadelphia Inquirer - A Trump Tax Break for Investors In Some of Philly's Hottest Neighborhoods - September 24, 2018
Tax Warrior Chronicles - Opportunity Zones: Six Pages of the TCJA Create a Tax-Saving Opportunity for Everyone. - September 5, 2018
The Times-Tribune (Scranton, PA) - Municipal Officials Upbeat on Tax-Break Program - July 2, 2018
Guidance Issued by the IRS
**Final Regulations for Qualified Opportunity Zones issued December 19, 2019**
**IRS FAQs for Final Regulations for Qualified Opportunity Zones issued December 19, 2019**
REG-120186-18 issued April 17, 2019
REG-115420-18 issued October 19, 2018
IRC Section 1400Z-1. Designation of Qualified Opportunity Zones
IRC Section 1400Z-2. Special Rules of Capital Gains Invested in Opportunity Zones
Revenue Ruling 2018-29 - Special Rules for Capital Gains Invested in Opportunity Zones
INSTRUCTIONS Form 8996 - Qualified Opportunity Fund
FORM 8996 - Qualified Opportunity Fund
IRS FAQs - Qualified Opportunity Zones
Source Documents & Maps
Interactive U.S. Map of Designated Qualified Opportunity Zones
List of Designated U.S. Qualified Opportunity Zones
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