Opportunity Zones Article

On Friday, October 19, 2018, the Treasury Department and the Internal Revenue Service (“IRS”) released proposed regulations providing guidance on the new “Opportunity Zone” program of the newly enacted Tax Cuts and Jobs Act. The agencies request public comments by December 18, 2018, and the Law Office of Howard Davis is analyzing the proposed regulations for potential benefits to redevelopers of contaminated property in qualified opportunity zones. The Treasury Department and IRS have also indicated that additional guidance and proposed regulations will be forthcoming. We will be monitoring future rulemaking and update our website to discuss potential impacts to redevelopers.

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