TAG Tax

On October 19, 2018, the Department of Treasury and Internal Revenue Service (“IRS”) issued initial proposed regulations,1 a Revenue Ruling,2 and draft Form 89963 and instructions for investments in qualified opportunity funds “QOF”). This long-anticipated guidance is expected to allow investors, business owners, real estate developers, and fund managers to be able to confidently seize the powerful tax deferral, reduction, and exclusion benefits provided by the QOF program.

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