Making a difference in distressed communities, CohnReznick has been on the cutting edge of innovative community development for more than 30 years. Whether it is working within tax credit programs, helping shape policy at Federal and state levels, or collaborating with state and local economic development programs, we have helped lead the growth and sophistication of the community development industry. Since the implementation of tax credits and now through the unique approach of Opportunity Zones, CohnReznick has served investors, developers, governmental entities and other stakeholders to help communities reach their full potential.
Signed into law through The Tax Cuts and Jobs Act (2017), sections 1400Z-1 and 1400Z-2 in the IRS Code created a new and dynamic community development program, Opportunity Zones. With trillions of dollars of unrealized capital gains across the US, the program provides a tax incentive for investors to re-invest such gains into Qualified Opportunity Funds dedicated to investing in government designated opportunity zones. Stimulating both individual and corporate investment in low-income communities within these zones across the United States and in U.S. territories, the expected capital formation and fund management platform created will be significant.
Closely aligned with this community development strategy, CohnReznick currently serves the types of organizations that are accumulating capital and managing the Opportunity Funds being formed. With a long and successful track record of servicing Private Equity, Venture Capital, Hedge Fund and Family Office organizations, we support the bridge between financial services and community development that will help deliver successful Opportunity Zone investments.Learn how Opportunity Zones provide tax benefits >
Our Opportunity Zone team includes national tax experts that analyze the details of legislative policy, transaction advisory experts that strategically analyze and model the practical effect of such policy, as well as experts that handle fund formation, accounting and compliance. Additionally, our industry experts aligned with the Opportunity Zone business sectors (investees) such as real estate, renewable energy, hospitality, technology, life sciences and manufacturing will help us to ensure that this tax provision has maximum effect for the distressed communities impacted by this provision.
- WSJ Commentary on the Treasury’s newly released guidance
- Bloomberg article on the new Opportunity Zones guidelines
- The Hill – highlights of the US Treasury and Trump Administration release of new Opportunity Zones guidance
Treasury Releases New Guidance on Opportunity Zones
Federal Qualified Opportunity Zones: Proposed Regulations Under Review
October 2018 Released IRS GuidanceOn-Demand Webinar
Qualified Zone Map:
Visit CohnReznick's Opportunity Zone Mapping Tool
Visit Our Tax Reform Resource Center
InsightTreasury Issues Second Round of Proposed Rules for Opportunity ZonesAfter a long and highly anticipated wait, Treasury has finally lifted the veil on a new set of proposed regulations that attempts to bring additional clarity to tax breaks on investments in economically disadvantaged communities that are designated as qualified opportunity zones (QOZs).
InsightTreasury Releases New Guidance on Opportunity ZonesToday, the U.S. Treasury Department released long-awaited guidance on opportunity zones. The release came amid a lengthy White House program that included secretaries from HUD and Treasury, as well as some practitioners working in opportunity zones around the country. This second round of proposed regulations promises to provide clarity for everyone that has been eagerly anticipating their release.
InsightFederal Qualified Opportunity Zones: Proposed Regulations Under ReviewThe second round of proposed regulations under Section 1400Z-2 of the Internal Revenue Code are now under review at the Office of Information and Regulatory Affairs (“OIRA”).