Sign up for tax alert emails    GTNU homepage    Tax newsroom    Email document    Print document    Download document

January 27, 2020

Thursday, 6 February | Federal Opportunity Zones - Final regulations (1 pm ET)

On 19 December 2019, the IRS released final regulations, Sections 1.1400Z2(a)-1 through 1.1400Z2(f)-1 and 1.1502-14Z and 1.1504-3, regarding Federal Opportunity Zones, created through the Tax Cuts and Jobs Act and codified in IRC Sections 1400Z-1 and 1400Z-2. Federal Opportunity Zones are census tracts primarily located in low-income areas that were nominated by states and subsequently designated by the IRS. Taxpayers who invest in these zones through entities certified as Opportunity Funds are eligible to receive potentially significant tax advantages. These regulations finalize the proposed regulations that were previously released in October 2018 and May 2019. Although taxpayers have been largely permitted to rely on the proposed regulations, final regulations have been highly anticipated as the IRS flagged many issues in the proposed regulations as open for comment and further clarification.

In response to this milestone, a panel of experienced Ernst & Young LLP professionals will discuss the key issues addressed in the newly released regulations on Opportunity Zones. Topics will include:

  • New rules promulgated in the final regulations
  • Key changes between the proposed and final regulations
  • Implications of the key changes
  • Transition rules

Date: Thursday, 6 February 2020

Time: 1:00-2:00 p.m. EST New York; 10:00-11:00 a.m. PST Los Angeles

Registration: Register for this event.


Joe Bianco, Principal, Financial Services, Wealth and Asset Management Services, Ernst & Young LLP

David Kirk, Partner, National Tax, Private Client Services, Ernst & Young LLP

Brian Peabody, Principal, National Tax, Mergers and Acquisitions Group, Ernst & Young LLP

Rachel van Deuren, Manager, Financial Services, Credits and Incentives Services, Ernst & Young LLP

Andrea Whiteway, Principal, National Tax, Partnership Transactions and Planning, Ernst & Young LLP


Mike Bernier, Partner, Financial Services, Credits and Incentives Services, Ernst & Young LLP

CPE credit offered: 1.0. Recommended field of study: Taxes. Learning objective: Describe the latest updates regarding Opportunity Zones and the mechanics of how this tax incentive can impact investors. This intermediate level, group internet-based course has no prerequisites or advanced preparation. Final CPE award to be based on content, polling, length of participation, etc. See CPE FAQ for more information.

Learn about and register for Thought Center webcasts

You can learn about and register for any Tax Thought Center webcast here.


The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.


Copyright © 2024, Ernst & Young LLP.


All rights reserved. No part of this document may be reproduced, retransmitted or otherwise redistributed in any form or by any means, electronic or mechanical, including by photocopying, facsimile transmission, recording, rekeying, or using any information storage and retrieval system, without written permission from Ernst & Young LLP.


Any U.S. tax advice contained herein was not intended or written to be used, and cannot be used, by the recipient for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions.


"EY" refers to the global organisation, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.


Privacy  |  Cookies  |  BCR  |  Legal  |  Global Code of Conduct Opt out of all email from EY Global Limited.


Cookie Settings

This site uses cookies to provide you with a personalized browsing experience and allows us to understand more about you. More information on the cookies we use can be found here. By clicking 'Yes, I accept' you agree and consent to our use of cookies. More information on what these cookies are and how we use them, including how you can manage them, is outlined in our Privacy Notice. Please note that your decision to decline the use of cookies is limited to this site only, and not in relation to other EY sites or Please refer to the privacy notice/policy on these sites for more information.

Yes, I accept         Find out more