Got questions about Opportunity Zones? The Internal Revenue Service (IRS) is offering a free webinar designed to give an overview of Opportunity Zones and related tax benefits for investors.

As part of the Tax Cuts and Jobs Act (TCJA), new investments in some economically-distressed areas may be eligible for preferential tax treatment. To qualify, areas must be nominated by the state and certified by the Secretary of the U.S. Treasury. These areas – called Opportunity Zones – exist in all 50 states, the District of Columbia and five U.S. territories.

Capital gains are typically favorable for investors, but when it comes to certain investments related to Opportunity Zones, they’re really advantageous. And the longer that you can hold onto an investment, the better. But you have to meet all of the criteria to qualify for the benefits.

Unfortunately, taxpayers have found that the rules for Opportunity Zones can be complicated. As a result, the IRS continues to offer guidance, like this webinar.

The 75-minute webinar is free and will take place on Thursday, September 3 at 2 p.m. (Eastern Time)

The webinar is open to investors, tax professionals, government agencies and anyone else interested in the tax rules that affect Opportunity Zones. While the webinar is free for everyone, you still have to register in advance to attend.

Topics will include:

  • Investor reporting elections
  • Annual investor reporting requirements
  • Impact of disaster relief on Opportunity Zones
  • Live question and answer session

Hearing impaired? No problem. The IRS notes that the webinar will be closed captioned for viewers who are deaf or hearing impaired.

For more on opportunity zones, check out this article.

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Author

Kelly Erb is a tax attorney, tax writer and podcaster.

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