The Internal Revenue Service unveiled proposed regulations Friday for what Treasury Secretary Steven Mnuchin says could be a $100 billion investment opportunity for real estate and businesses in distressed areas.
The Internal Revenue Service unveiled proposed regulations Friday for what Treasury Secretary Steven Mnuchin says could be a $100 billion investment opportunity for real estate and businesses in distressed areas. The rules provide investors with guidelines about how they can qualify for special tax breaks in so-called Opportunity Zones — underdeveloped areas where the U.S. government is trying to promote investment. They specify that only capital gains can qualify for the benefit and provide details on what types of entities can invest in Opportunity Zone funds, along with which projects qualify, a Treasury official said during a call with reporters.
https://www.accountingtoday.com/articles/irs-unveils-proposed-rules-for-tax-laws-opportunity-zones-capital-gains-break?feed=00000152-a2fb-d118-ab57-b3ff6e310000&utm_content=socialflow&utm_medium=social&utm_source=linkedin&utm_campaign=accountingtoday-li
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