Trump Administration Mulls Extending the Opportunity Zone Program. Observers Fill in the Blanks.
An extension and reporting requirements could help the program.
June 5, 2020 | Les Shaver | GlobeSt.com
In late May, NPR reported that the Trump Administration was looking at an extension for The Opportunity Zone program in the wake of COVID-19.
Currently, investors can defer and lower their capital gain taxes through 2026 if they invest in an Opportunity Zone.
White House adviser Ja’Ron Smith told NPR that the administration is looking “at ways that we can extend the legislation.” He declined to discuss the details on what an extension might entail.
Even before the NPR report came out, several professionals who worked with Opportunity Zones were suggesting that an extension would be necessary in the wake of the pandemic.
