The opportunity zone tax incentive program received a new set of proposed regulations from the U.S. Department of the Treasury. PKF Texas Tax Director, Martin Euson, published another article on the Houston Business Journal website, expanding on previously published articles on the topic.
In his article, Euson states the much-needed guidance was issued in April 2019. The goal is to help investors, fund managers, developers and sponsors take advantage of the tax incentives offered by the program; the proposed regulations help clarify the requirements investors “must satisfy to defer paying tax on capital gains invested in a qualified opportunity fund (QOF).”
Euson further explains which issues are addressed after the first set of regulations and which types of federal tax benefits there are by investing in a QOF.
For the full article with more detail, visit www.bizjournals.com/houston/news/2019/09/01/opportunity-zone-program-gets-new-much-needed.html.