As part of its continuing response to the COVID-19 pandemic, on June 4, 2020, the Internal Revenue Service issued Notice 2020–39 (the “Notice”). The Notice provides welcome relief to Qualified Opportunity Funds (“QOFs”) and...more
6/10/2020
/ Community Development ,
Coronavirus/COVID-19 ,
Economic Development ,
Investment Funds ,
IRS ,
Low Income Housing ,
Opportunity Zones ,
Qualified Opportunity Funds ,
Real Estate Development ,
Real Estate Investments ,
Relief Measures ,
Safe Harbors
Two months have elapsed since Treasury and IRS issued the Final Regulations on Opportunity Zones. The effective date is March 13, 2020. During these two months, the Sullivan Ozone Practice Group has hosted gatherings for our...more
Recent federal tax legislation introduced "Opportunity Zones," a new community reinvestment tool designed to use tax incentives to drive long-term investment to rural and low-income urban communities throughout the nation....more
4/18/2018
/ Capital Gains ,
Community Development ,
Economic Development ,
Investment Funds ,
Low Income Housing ,
Low-Income Issues ,
Opportunity Zones ,
Public Finance ,
State and Local Government ,
Tax Cuts and Jobs Act ,
Tax Reform