Opportunity Zones

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.

The Treasury Department and President Trump have announced the next wave of guidance for Opportunity Zones. These additional guidelines are in response to the comments and questions the Treasury and the IRS have received since the October 2017 guidance. These new guidelines are intended to help accelerate the infusion of capital into distressed areas and encourage economic development, seeking to clarify eligible investments – such as land and vacant buildings, gains, and revenue rules.

Read the newly released guidelines as published by the Office of the Federal Registry

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.

Explore an interactive map identifying where eligible census tracts are located >

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.