IRS Guidance Addresses Opportunity Zones
Date: October 21, 2018
On October 19, 2018, the IRS provided guidance with respect to Qualified Opportunity Zones (QOZs) through the issuance of 74 pages of proposed regulations, a revenue ruling addressing the qualifying use of funds towards substantial improvement of a building, and a draft form to certify the Qualified Opportunity Fund (QOF) annually, including the requirement that 90% of the QOZ assets are QOZ Property. Read more.
For more information, please contact:
Francesco A. Ferrante
Thompson Hine LLP