On December 19, 2019, the Treasury Department and Internal Revenue Service (the “IRS”) released final regulations for the opportunity zone (“OZ”) program to refine and clarify certain aspects of the first two sets of proposed...more
1/13/2020
/ Capital Gains ,
Community Development ,
Economic Development ,
Investment Funds ,
IRS ,
Opportunity Zones ,
Popular ,
Qualified Opportunity Funds ,
Real Estate Development ,
Real Estate Investments ,
Tax Cuts and Jobs Act ,
Tax Deferral
The Internal Revenue Service and the Treasury Department recently released a second tranche of proposed regulations that provide additional guidance on the tax incentives of investing in opportunity zones, including the...more
5/8/2019
/ Capital Gains ,
Community Development ,
Economic Development ,
IRS ,
Opportunity Zones ,
Proposed Regulation ,
Qualified Opportunity Funds ,
Real Estate Development ,
Tax Cuts and Jobs Act ,
Tax Deferral ,
Tax Planning
As part of the Tax Cuts and Jobs Act (the “TCJA”), a new tax incentive program was created to spur economic growth and investment in designated distressed communities (each an “opportunity zone” or “OZ”). Not only does the OZ...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 ,
Tax Deferral ,
Tax Planning
Since the Great Recession, nonprofits have been receiving less support from budget-constrained governmental agencies and fewer contributions from the private sector. Similarly, many state and other nonprofit universities have...more
Action Item: The recently issued temporary Treasury Regulation § 1.150-1T contains guidance that is significant to businesses and individuals alike. Transactions involving master lease pass-throughs may require special...more
Action Item: Owners of family businesses and investment entities (such as family limited partnerships, limited liability companies (“LLCs”), and corporations) are urged to consider making transfers of interests in those...more
Foundations must understand the final Program Related Investment regulations and ensure that their planned and ongoing investments comply with the most recent IRS guidance to ensure their investments do not jeopardize their...more
Action Item: This year, Blank Rome’s annual estate planning newsletter will be issued in six installments. Each installment will discuss certain concepts and techniques that we hope may be of interest to our clients and...more