As a practitioner who regularly advises clients on qualified opportunity zone (OZ) matters, I have spent the bulk of the past three years discussing ground lease structures. Developer clients initially cringed at the notion,...more
In Notice 2020-39, which was released on Thursday, June 4, 2020, the IRS provided critical relief to qualified opportunity zone (OZ) investors, qualified opportunity funds (QOF) and OZ businesses due to the COVID-19...more
The IRS has released 26 CFR Part 1, resolving questions regarding the five-year period to claim rehabilitation credits for qualified rehabilitation buildings (QRBs). Prior to the proposed regulation, practitioners were...more
On May 16, 2019, Jenny Connors will discuss opportunity zones at a Cherry Bekaert event at the Museum of Contemporary Art in Virginia Beach. Jenny will be joined by Cherry Bekaert partners Wesley Hudson and Ron Wainwright,...more
On April 17, 2019, the U.S. Department of Treasury and the Internal Revenue Service released their highly anticipated second tranche of qualified opportunity zone (“OZ”) proposed regulations.
This second set of proposed...more
4/23/2019
/ Capital Gains ,
Community Development ,
Investment Funds ,
IRS ,
Opportunity Zones ,
Proposed Regulation ,
Qualified Opportunity Funds ,
Real Estate Development ,
Real Estate Investments ,
Safe Harbors ,
Tax Cuts and Jobs Act ,
Tax Deferral ,
U.S. Treasury
On Friday, October 19, 2018, the U.S. Treasury Department issued its first tranche of qualified opportunity zone (“OZ”) proposed regulations.
Simultaneously, the IRS released Revenue Ruling 2018-29, which addresses the...more
10/25/2018
/ Capital Gains ,
Community Development ,
Economic Development ,
Internal Revenue Code (IRC) ,
IRS ,
Opportunity Zones ,
Proposed Regulation ,
Qualified Opportunity Funds ,
Real Estate Development ,
Real Estate Investments ,
U.S. Treasury
Today, October 19, 2018, the Treasury Department and the Internal Revenue Service (the “IRS”) issued proposed regulations on the qualified opportunity zone (“OZ”) tax incentive. In addition, the IRS issued Revenue Ruling...more
On Wednesday, October 17, 2018, the Office of Information and Regulatory Affairs of the Office of Management and Budget completed its review of the proposed qualified opportunity zone (“OZ”) regulations and sent them back to...more
Get your Halloween treat early in the day and join us for a Fall Tax Forum at the Williams Mullen Center on Wednesday, October 31. You’re invited to learn how to tame the tax monster when the program gets underway at 8:30...more
This program will address the designated Qualified Opportunity Zones in Virginia, the potential tax benefits to investors of Qualified Opportunity Zone Investments, the certification process for Qualified Opportunity Funds,...more