As 2019 approaches its final months, construction firms may start to see an uptick in interest for projects in opportunity zones.
Enacted as part of 2017 Tax Reform, the opportunity zone program began attracting significant investor interest after the IRS released clarifying guidance about the program’s rules in October 2018 and again in April 2019.
While additional IRS guidance is still expected, one thing is certain: 2019 is the prime time to invest in opportunity zones to receive the program’s full tax benefits. Consequently, eager investors have begun pouring capital into qualified opportunity funds (QOFs)—the investment vehicle to participate in the opportunity zone program.
