Land Use,
Tax
Jun. 11, 2021
IRS: opportunity zone sites will not be redrawn due to census
Developers who were hoping for an expansion of opportunity zones recently got some disappointing news.
Phil Jelsma
Partner and Chair of the Tax Practice Team
Crosbie Gliner Schiffman Southard & Swanson LLC (CGS3)
Email: pjelsma@cgs3.com
Phil is chair of the tax practice team at CGS3. He is recognized as a leading joint venture and tax attorney, with a 30-year background in real estate exchange transactions, syndications, nonprofit corporations and international tax planning.
Developers who were hoping for an expansion of opportunity zones recently got some disappointing news.
Created under the Trump administration's Tax Cuts and Jobs Act of 2017 to spur investment in distressed areas, the opportunity zones program provides tax breaks and deferments for investors who infuse capital into designated low-income communities.
They are defined in the legislation as census trac...
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