• About
  • News
  • Office Locator
  • Careers
  • Contact Us
  • Subscribe
CohnReznick
  • Industries
  • Services
  • Insights
  • Events
  • People
  • About
  • News
  • Office Locator
  • Careers
  • Contact Us
CohnReznick
  • Industries
    • Recent Insights

      • Kielczewski joins CohnReznick as Tax Director

      • CMS hospital price transparency: Are you sure you're compliant?

      • View More
    • Consumer & Industrial

      • Hospitality
      • Manufacturing & Distribution
      • Consumer

      Financial Sponsors & Financial Services

      • Broker Dealers
      • Independent Sponsors
      • Family Offices
      • Hedge Funds
      • Private Equity
      • Small Business Investment Companies (SBICs)
      • Special Purpose Acquisition Companies (SPACs) Services
      • Venture Capital
    • Life Sciences & Healthcare

      • Life Sciences
      • Healthcare

      Public Sector

      • Government Contracting
      • Government
      • Not-for-Profit & Education

      Real Estate

      • Affordable Housing
      • Commercial Real Estate
      • Construction
      • Corporate Real Estate
      • Opportunity Zones
      • Tax Credits
    • Renewable Energy

      Technology & Media

      Private Clients

      • Entertainment
      • Law Firms
      • Medical Practices
      • Private Clients

      Cannabis

  • Services
    • Recent Insights

      • Start preparing now to earn points on GSA’s Polaris contract opportunity

      • Digital by Design - A CohnReznick Advisory podcast

      • View More
    • Advisory

      • Accounting Advisory
      • Analytics & Data
      • CFO Advisory
      • CIO Advisory
      • Cybersecurity & Privacy
      • Enterprise Technology Solutions
      • Emergency Management
      • Project Finance and Consulting
      • Real Estate Advisory
      • Restructuring & Dispute Resolution
      • Risk Advisory
      • Transactions
      • Valuation
    • Accounting & Assurance

      • Accounting Advisory
      • Accounting Services
      • Attest & Audit
      • Employee Benefit Plans
      • Lease Accounting
      • Paycheck Protection Program (PPP) Loan Forgiveness Assistance

      Tax

      • Federal Tax
      • International Tax
      • Exempt Organizations Tax Services
      • Private Clients
      • SBA Disaster Loan Assistance
      • State & Local Tax
      • Tax Credits
      • Trusts & Estates
    • Affiliated Companies

      • Asset Management & Insurance
      • Benefits Brokerage & Consulting
      • Capital Markets Advisory
      • Corporate Real Estate
      • Equity & Capital Placement
      • Government Contracting Technology Consulting
      • Risk Insurance Consulting
  • Insights
    • Recent Insights

      • How individual and business tax rates, credits, and more could change under the Biden presidency

      • GOVERNMENT CONTRACTING: DCAA issues guidance on coronavirus-related legislation

      • View More
    • Topics

      • CFOs: From survival to revival
      • CohnReznick & Major League Baseball®
      • Coronavirus Resource Center
      • Creating value by building trust
      • GovCon360° Resource Center
      • All Insights
      • Integrated business planning
      • Optimizing outcomes for distressed situations
      • Housing tax credit data analysis and report
      • SPACs: An alternative to traditional IPOs
      • Strategic tax issues for capital markets
  • Events
  • People
  1. CohnReznick: Advisory, Assurance, Tax Firm
  2. Industries
  3. Real Estate
  4. Opportunity Zones
    Share CohnReznick
    Share
  • Print

Opportunity Zones

Almost three years after the passage of the 2017 Tax Cuts and Jobs Act  (TCJA) brought to life the first new community development tax incentive in nearly 20 years, we are still in early stages of understanding how Opportunity Zones (OZs) can and should  be implemented.

This Opportunity Zones guide is intended to be a plain-English tutorial on the nuts and bolts of OZ investing – one that goes beyond technical nuances to provide practical tips that can help create and support a healthier OZ ecosystem, shifting economic activity to areas that need it most.

Learn more

opportunity zone guide oz

 

 

Making a difference in distressed communities, CohnReznick has been on the cutting edge of innovative community development for more than 30 years. Whether 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.

After a long, challenging year of navigating through emerging regulations and controversy regarding Opportunity Zones, the Treasury released a third – and, for now, final – wave of OZ regulations in December 2019. These changes have far-reaching impact and need to be properly embedded into an organization’s OZ program strategy.  

From a guidance perspective, we anticipate no forthcoming changes, which means we may finally be at the end of the beginning. Now we all can focus on moving forward quickly to develop impactful OZ program strategies. 

Click below for our early, high-level perspectives on the third wave of regulations, and find deeper analysis and perspective in our OZ guide (see above).

Read highlights from the December 2019 OZ 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 U.S., 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 U.S. 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 who analyze the details of legislative policy, transaction advisory experts who strategically analyze and model the practical effect of such policy, and experts who 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 it impacts.

Related Services

  • Lease Accounting
  • Affordable Housing
  • Commercial Real Estate
  • Hospitality
  • Life Sciences
  • Manufacturing & Distribution
  • Private Clients
  • Project Finance and Consulting
  • Renewable Energy
  • Technology & Media
  • Tax Credits
Ira Weinstein
Managing Principal – Real Estate, Cannabis Industries
View full biography
Contact Ira

The Guide to Making Opportunity Zones Work

Learn more
Webinar: Opportunity Zone Summit – The Future of the OZ Marketplace
Register now
Putting People First: Stronger Communities for the Post-COVID-19 World
Play video

Birth of Opportunity Zones

Play video
Opportunity Zones: Can an anchor be a catalyst?
Learn more

CRE Insights & Updates
Opportunity Zones: Changing the face

of economic development

Learn more

Qualified Zone Map: 

Visit CohnReznick's Opportunity Zone Mapping Tool

View the NMTC/OZ Map

Business of Baseball

Community Development

Learn more
09
Idea

Invest in an opportunity zone fund to potentially defer significant capital gains.

Let's get going. 99 more ideas for creating value, accelerating growth, and managing risk
  • Contact Us
  • Subscribe
  • Follow:
Industries
Consumer & Industrial
  • Hospitality
  • Manufacturing & Distribution
  • Consumer
Financial Sponsors & Financial Services
  • Broker Dealers
  • Independent Sponsors
  • Family Offices
  • Hedge Funds
  • Private Equity
  • Small Business Investment Companies (SBICs)
  • Special Purpose Acquisition Companies (SPACs) Services
  • Venture Capital
Life Sciences & Healthcare
  • Life Sciences
  • Healthcare
Public Sector
  • Government Contracting
  • Government
  • Not-for-Profit & Education
Real Estate
  • Affordable Housing
  • Commercial Real Estate
  • Construction
  • Corporate Real Estate
  • Opportunity Zones
  • Tax Credits
Renewable Energy
Technology & Media
Private Clients
  • Entertainment
  • Law Firms
  • Medical Practices
  • Private Clients
Cannabis
Services
Advisory
  • Accounting Advisory
  • Analytics & Data
  • CFO Advisory
  • CIO Advisory
  • Cybersecurity & Privacy
  • Enterprise Technology Solutions
  • Emergency Management
  • Project Finance and Consulting
  • Real Estate Advisory
  • Restructuring & Dispute Resolution
  • Risk Advisory
  • Transactions
  • Valuation
Accounting & Assurance
  • Accounting Advisory
  • Accounting Services
  • Attest & Audit
  • Employee Benefit Plans
  • Lease Accounting
  • Paycheck Protection Program (PPP) Loan Forgiveness Assistance
Tax
  • Federal Tax
  • International Tax
  • Exempt Organizations Tax Services
  • Private Clients
  • SBA Disaster Loan Assistance
  • State & Local Tax
  • Tax Credits
  • Trusts & Estates
Affiliated Companies
  • Asset Management & Insurance
  • Benefits Brokerage & Consulting
  • Capital Markets Advisory
  • Corporate Real Estate
  • Equity & Capital Placement
  • Government Contracting Technology Consulting
  • Risk Insurance Consulting
Insights
CFOs: From survival to revival
CohnReznick & Major League Baseball®
  • Business of Food
  • Community Development
  • Community Outreach
  • Elevating The Fan (Customer) Experience
  • Managing for Success
  • Mayor of the City
Coronavirus Resource Center
  • Federal coronavirus resources: Legislation, loans, and tax relief
  • SALT coronavirus resources
Creating value by building trust
GovCon360° Resource Center
  • The Cybersecurity Maturity Model Certification (CMMC)
Integrated business planning
  • Integrated business planning for manufacturing
  • Integrated business planning for retail
Optimizing outcomes for distressed situations
Housing tax credit data analysis and report
SPACs: An alternative to traditional IPOs
Strategic tax issues for capital markets
Events
People
Contact Us
Offices
© 2020 CohnReznick LLP, All Rights Reserved. Terms of Use & Disclosures Privacy Policy

“CohnReznick” refers to CohnReznick LLP or any of its subsidiaries or affiliates. Each entity is a separate legal entity and solely responsible for its own acts and/or omissions.

CohnReznick LLP is a member firm of the “Nexia International” network. Nexia International Limited does not deliver services in its own name or otherwise. Nexia International Limited and each of its member firms are separate legal entities and not part of a worldwide partnership.  Nexia International Limited does not accept any responsibility for the commission of any act, or omission to act by, or the liabilities of, any of its members.