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Qualified Opportunity Zones and Tax Credits: IRS Regulations, Capital Gain Deferral Mechanisms, Section 1400Z

New Markets Tax Credit, Step-Up in Basis, Appreciation Exclusion, Tax Planning Strategies for Investors

Recording of a 90-minute premium CLE/CPE video webinar with Q&A

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Conducted on Thursday, April 25, 2024

Recorded event now available

or call 1-800-926-7926

This CLE/CPE course will provide tax counsel and advisers with a detailed analysis of the qualified opportunity zone (QOZ) tax incentive mechanism provided under current tax law. The panel will discuss IRS regulations for investors, recent amendments, new markets tax credits, energy tax credits, and the necessary legal requirements and processes to achieve these tax benefits. The panel will also describe methods to ensure deferral or reduction of capital gains and outline additional tax planning strategies associated with opportunity zone funds and businesses.


Tax reform created one of the country's most significant economic development programs that encourages private investment in qualified opportunity zones (QOZs). The program allows taxpayers to defer and reduce capital gains by allowing the taxpayer to reinvest capital gain proceeds in a qualified opportunity fund.

This incentive investment program subsidizes growing businesses in low-income communities through short- and long-term capital gains deferral, providing a substantial step-up in tax basis and tax abatement on the post-investment appreciation. The program required states to nominate a limited number of census tracts to be designated as QOZs with such designation to remain in place for 10 years.

To take advantage of the program's tax benefits, a taxpayer must reinvest capital gain proceeds in a qualified opportunity fund within 180 days from the date of the sale or exchange of a capital asset. A qualified opportunity fund must hold at least 90 percent of the fund's assets in QOZ property. Tax counsel and advisers must understand and develop planning techniques to assist individuals or businesses seeking to invest capital, raise funds, or recognize significant capital gains in the next few years.

Listen as our panel discusses the benefits of the QOZ tax incentive program as an investment tool for taxpayers, the final IRS regulations and recent amendments, the necessary legal requirements and processes to achieve the tax benefits, techniques to ensure deferral or reduction of capital gains, and a discussion of critical open issues, analysis, and recommended guidance for counsel and advisers.



  1. Opportunity zone provisions under current tax law
  2. Final IRS regulations and recent amendments
  3. Processes and criteria designating QOZs
  4. Opportunity zone funds as the new class of investment vehicles and interests they can hold
  5. Securing the tax benefits of opportunity zone investments
  6. Best practices and tax planning techniques for counsel


The panel will review these and other key issues:

  • How do the IRS final regulations provide clarity to investors?
  • What are the key provisions included in the most recent amendments?
  • What are the opportunity zones and eligibility requirements for new markets tax credit?
  • What tax benefits do opportunity zones provide?
  • What are opportunity zone funds and QOZ businesses?
  • How can taxpayers ensure the deferral or reduction of capital gains and the appreciation exclusion?
  • How can the opportunity zone incentive be combined with other federal tax incentives, such as the new markets tax credit and energy tax credits?
  • Optimizing structures for opportunity zone investments


Blecher, Alan
Alan M. Blecher, JD

Managing Director
CBIZ Marks Paneth

Mr. Blecher has considerable experience serving high-income and high-net-worth individuals and their closely held...  |  Read More

Goldie, Gordon
Gordon Goldie, CPA, MST

Plante & Moran

Mr. Goldie is one of the leaders of Plante Moran's housing and community development solutions group. He spends 100...  |  Read More

Sanders, Michael
Michael I. Sanders

Blank Rome

Mr. Sanders focuses his practice in the area of taxation, particularly in matters affecting partnerships, limited...  |  Read More

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