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
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.
Outline
- Opportunity zone provisions under current tax law
- Final IRS regulations and recent amendments
- Processes and criteria designating QOZs
- Opportunity zone funds as the new class of investment vehicles and interests they can hold
- Securing the tax benefits of opportunity zone investments
- Best practices and tax planning techniques for counsel
Benefits
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
Faculty
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
Mr. Blecher has considerable experience serving high-income and high-net-worth individuals and their closely held businesses. He focuses especially on partnerships, limited liability companies and S corporations.
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Gordon Goldie, CPA, MST
Partner
Plante & Moran
Mr. Goldie is one of the leaders of Plante Moran's housing and community development solutions group. He spends 100... | Read More
Mr. Goldie is one of the leaders of Plante Moran's housing and community development solutions group. He spends 100 percent of his time assisting for-profit and not-for-profit clients with real estate development projects involving tax incentives such as historic tax credits, New Markets Tax Credits (NMTCs), Brownfield redevelopment incentives, and the new opportunity zones incentive. Mr. Goldie assists clients nationwide in identifying available tax incentives and structuring transactions to optimize the net benefit of these incentives while ensuring compliance with all applicable tax law requirements.
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Michael I. Sanders
Partner
Blank Rome
Mr. Sanders focuses his practice in the area of taxation, particularly in matters affecting partnerships, limited... | Read More
Mr. Sanders focuses his practice in the area of taxation, particularly in matters affecting partnerships, limited liability companies, S-corporations, real estate, tax controversy, and estate planning, including trusts and estates. He also has a large practice in the area of exempt organizations involving healthcare and low-income housing, associations and joint ventures between for-profits and nonprofits, as well as structuring New Markets Tax Credit ("NMTC") and Historic Tax Credit ("HTC") transactions. He is the author of Joint Ventures Involving Tax-Exempt Organizations (3rd Ed., 2007; 4th Ed., 2013) which was recently cited by the majority opinion in the widely covered U.S. Supreme Court decision in Burwell v. Hobby Lobby Stores, Inc. He previously served as an attorney-advisor to the assistant secretary of tax policy at the Office of Tax Legislative Counsel.
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