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Day 3 | Tax Benefits of Investing in Opportunity Zones and Empowerment Zones

Course Price: $559.00
CPE Credits
5
Date
July 21, 2021
Course Time
8:00 AM
Advanced Preparation
None
Course Level
Introduction
Prerequisite
Knowledge of Federal Tax Law
IRS CPE
5
NASBA CPE
5
CTEC CPE
5
Instructor(s)
Nina Tross MBA EA

Course Description

This course introduces Tax Professionals to the §4OOZ-I provisions for designation of "Qualified Opportunity Zones" (QOZ) and §14OOZ-2 provisions for special rules for capital gains invested in opportunity zones. The presentation will discuss the treatment of the gains dealing with elections and deferral of gain invested in "opportunity zone property". The presentation will discuss the determination of basis and define what a "Qualified Opportunity Fund" is as well as describing a "qualified opportunity zone business". The presentation will also discuss §1397B Nonrecognition of Gain on the rollover of empowerment zones investments and holding period requirements.

Learning Objectives

At the conclusion of this presentation, the Tax Professional will have learned the basics of the tax provisions addressing the federal income tax benefits of investing in Opportunity Zone funds and the workings of an Opportunity Zone investment. The participant will have an understanding of the benefits of deferral of gains realized from the investment in a qualified opportunity fund, the calculation of basis and the possible exclusion of gain.

For purposes of Empowerment Zone investments, the participant will learn about the §1397B benefits of nonrecognition of gain available when a taxpayer invests in Opportunity Zones.

Administration Policies: NSTP follows strict administrative policies
Late Registration
  • Registrations must be received no later than 7 days prior to the seminar date.
  • Registrations received after this date will be subject to a $35 late fee.
Refunds
  • NSTP provides refunds to registrants up to 7 days prior to the date of the course. For those registrants canceling within 14 days prior to the date of the course NSTP will allow attendance at another seminar site. If there are extraordinary circumstances NSTP will allow the participant to attend a future education course. An administrative charge of $25 will be assessed if canceled. For more information regarding refund, cancellation and complaint policies, please contact our offices at 800-367-8130
Cancellation
  • NSTP reserves the right to cancel any program or course for circumstances that are not under direct control of NSTP. If a course or program is canceled, participants will be refunded 100% of their registration fee.
Walk-In
  • We do not accept walk-in attendees. Payment must be received in advance of the class. Classes may not be retaken without payment.
Disclaimer
  • Seminar materials and seminar presentations are intended to stimulate thought and discussion and to provide attendees the useful ideas and guidance in the areas of federal taxation and administration. These materials as well as the comments of the instructors do not constitute and should not be treated as tax advice regarding the use of any particular tax procedure, tax planning technique or device or suggestion or any of the tax consequences associated with them.
  • Although the NSTP has made every effort to ensure the accuracy of the materials and the seminar presentation, neither the author, the presenter nor the National Society of Tax Professionals assumes any responsibility for any individual's reliance on the written or oral information presented during the presentation. Each attendee should verify independently all statements made in the materials and during the seminar presentation before applying them to a particular fact pattern and should determine independently the tax and other consequences of using any particular device, technique or suggestion before recommending the same to a client or implementing the same on a client's or on his or her own behalf.
Attendance Policy
  • Only paid registrants are able to attend seminars. In consideration of your fellow attendees, guests will need to depart before the session begins. The seminar lunch is for paid registrants only and is included in the registration fee.