OZ Coalition Letter Requests Guidance from IRS, Treasury

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 guidance on such things as:

  • Technical definitions of qualified opportunity fund,
  • Timing of deployment of capital into the properties,
  • Qualified opportunity zones business and qualified opportunity zones property, and,
  • Guidance on partnerships and the use of the OZ incentive with various tax credit programs.

The letter also asks for confirmation from Treasury of common understanding of several issues in the OZ incentive.

If you have any questions related to Opportunity Zones, feel free to call us at 702-818-1118 or email me at mike@ballardconsulting.net.