The IRS on Opportunity Zones | Credits & Deductions
Opportunity Zones are an economic development tool designed to spur growth and job creation in distressed areas across the US. This program, established under the Tax Cuts and Jobs Act of 2017, provides tax benefits to investors who invest in designated low-income communities through Qualified Opportunity Funds (QOFs).
Investors can defer taxes on eligible gains by investing in a QOF. The IRS provides resources to assist investors in finding qualified zones, understanding eligibility requirements, and certifying and maintaining a QOF.