IRC 1400Z Qualified Opportunity Zones for Individual Investors: Tax Deferral and Reduction Opportunities

Claiming Capital Gains Tax Mitigation, Basis Step-Up on a Qualified Opportunity Fund Investment and Disposition

Note: CLE credit is not offered on this program

Recording of a 110-minute CPE webinar with Q&A


Conducted on Thursday, February 21, 2019

Recorded event now available

or call 1-800-926-7926
Program Materials

This webinar will provide tax advisers with a practical guide to understanding the tax incentives made available to investors under Section 1400Z. The panel will discuss the mechanics of Section 1400Z and the proposed regulations issued in October 2018. We will discuss how to qualify for tax benefits by investing in a QOF, the requirements to create and maintain QOFs and QOZ businesses, and key areas of the law that remain uncertain.

Description

The new qualified opportunity zone (QOZ) provisions found in Section 1400Z of the Internal Revenue Code represent perhaps the most significant economic development tax incentive program in several decades. Section 1400Z allows taxpayers to defer and reduce the tax on capital gains by allowing taxpayers to reinvest capital gain proceeds in a qualified opportunity fund (QOF). These funds are established to inject investment capital into designated low-income communities to promote economic growth.

Listen as our panel discusses the benefits of the new QOZ tax incentive program as an investment tool for taxpayers, the necessary legal requirements and processes to obtain tax credits, and techniques to ensure deferral or reduction of capital gains.

READ MORE

Outline

  1. Section 1400Z-2 opportunity zone provisions
  2. Processes and criteria designating QOZs
  3. Opportunity zone funds as the new class of investment vehicles and interests they can hold
  4. Specific tax incentives provided for in QOF investments
  5. Contrast incentives with qualified small business stock exclusions
  6. Filing and documentation requirements

Benefits

The panel will review these and other key issues:

  • What are QOZs and the eligibility requirements under IRC 1400Z?
  • What are QOFs and QOZ businesses?
  • How can taxpayers ensure the deferral or reduction of capital gains and the appreciation exclusion?
  • Recent IRS guidance on gain deferral and the "substantially all" requirement imposed on QOZ businesses.

Faculty

Hannan, Justin
Justin M. Hannan

Atty
Day Pitney

Mr. Hannan assists high net-worth individuals and businesses with tax planning. He advises individual clients on...  |  Read More

Karachale, Christopher A.
Christopher A. Karachale

Partner
Hanson Bridgett

Mr. Karachale advises individuals and business entities on a broad range of tax planning and tax controversy matters....  |  Read More

Miles, Jack
Jack J. Miles

Partner
Kelley Drye & Warren

Mr. Miles has more than 35 years of experience in representing a wide variety of international and domestic clients in...  |  Read More

Other Formats
— Anytime, Anywhere

CPE On-Demand

See NASBA details.

CPE Available

$186

Download

CPE Not Available

$197