The Internal Revenue Service unveiled proposed regulations for the Opportunity Zones (OZ) incentive, addressing gains invested in qualified opportunity funds. 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 […]
In the last week, I’ve done presentations in Salt Lake City, Orange County and Las Vegas regarding Opportunity Zones. This is such an important and potentially revolutionary program that I believe will truly transform low-income, neglected neighborhoods. Attached is the presentation that I gave to today audience in Las Vegas.
The Opportunity Zones Coalition this month sent a letter to David J. Kautter, the acting commissioner of the Internal Revenue Service, outlining the major unresolved issues and requesting guidance and clarification from the IRS and Treasury Department concerning the opportunity zones (OZ) incentive. The letter, signed by 46 organizations including some clients of Ballard Consulting, seeks […]
On Tuesday, February 13th, the U.S. Treasury Department’s Community Development Financial Institutions Fund (CDFI Fund) awarded $3.5 billion in New Markets Tax Credit allocation to 73 community development entities throughout the country. Based on the terms of the awards, it is expected that approximately $2.47 billion of allocation will be deployed to support businesses in […]
Last weekend, I ran into an old friend who was a little frustrated. He said he is still trying to retire by exiting his business. He has tried twice and not succeeded either time. It reminded me of the old saying that “it’s easier to get into business than to get out of it.” Many […]