According to recent reports, the much anticipated second set of Opportunity Zone proposed regulations should be released by the Internal Revenue Service within the next couple of weeks. Bloomberg News reported on Monday, March 18, 2019 that the Internal Revenue Service sent the proposed regulations to the White House’s regulatory review office on March 12,

Shipman & Goodwin attorney Louis Schatz authored the article Connecticut’s Response to the Tax Cuts and Jobs Act of 2017(Part II) for the New York State Society of Certified Public Accountants online tax publication, Tax Stringer. An excerpt from the article is provided below.

This article is the second in a two-part series about 

The federal Tax Cuts and Jobs Act of 2017 introduced a new community redevelopment program intended to encourage investment in certain low-income communities across the country by sparking economic development and job growth within these communities.  In certain circumstances, a taxpayer may invest capital gains from a sale or exchange into a qualified opportunity fund

Many businesses and investors may be positioned to pursue a unique investment opportunity through the Qualified Opportunity Zones program, which offers significant tax incentives for eligible funds aimed at projects in economically distressed urban and rural communities.

Join Shipman & Goodwin attorneys for this complimentary webinar as they provide an overview of the new program’s

Shipman & Goodwin is expanding its services with the creation of a multi-disciplinary Opportunity Zones team to assist clients seeking significant tax incentives through the recent Qualified Opportunity Zones program. Experienced attorneys from the firm’s Tax, Business and Finance, and Real Estate practices are now available to advise corporations, partnerships, limited liability companies, investors, developers