Proposed OZ regulations offer flexible rules for “Working Capital Safe Harbor” changes caused by COVID and how foreigners can take advantage of the Opportunity Zone tax incentive.
About Joseph Darby
Joseph B. “Jay” Darby III is a tax attorney and founder of the Boston-based Joseph Darby Law PC, a firm that concentrates on helping people with tax matters, from the common to the most complex. Darby was one of the early proponents of Opportunity Zones, and has been at the leading edge of the legislation since first enacted. The attorney and tax advisor for more than 100 successful QOFs to date, Darby has been recognized for 13 straight years as one of the best tax lawyers in the U.S. by Best Lawyers®. He is also Adjunct Professor at Boston University Law School, where he teaches the only full semester law-school course in the U.S. that concentrates solely on Opportunity Zones.Company
Joseph Darby Law PC
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One Financial Center, 15th Floor, Boston
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Answers to Opportunity Zones
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OZ Verified
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- Active BAR member in good standing
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Articles
- July 20, 2020
Two significant reports on Opportunity Zones were issued within hours of each other by two important organizations, the White House Opportunity and Revitalization Council and the Urban Institute, on June 17.
- February 03, 2022
Steps investors should think about when it comes to the process of decertification of a Qualified Opportunity Fund.
- August 10, 2021
IRS has amended the Final Regulations by updating decertification of QOFs and the Working Capital Safe Harbor.
- January 23, 2021
The IRS issued Notice 2021-10 on Jan. 19, 2021, providing yet another round of “extension relief” specifically targeted at Qualified Opportunity Funds (QOFs) and investors affected by the ongoing COVID-19 pandemic.
- February 24, 2021
It is estimated that more than one million people have been lifted out of poverty and into self-sufficiency because of the OZs. Let’s hope potential changes by the Biden administration continue the progress.