Archive for October, 2018

If someone asked you to handpick one provision from the recently enacted Tax Cuts and Jobs Act that perfectly embodies the many shortcomings of this most recent round of tax reform, you could do far worse than settling on Section 1400Z-2, the “Opportunity Zone” incentive.

For starters, like the rest of the Act, Section 1400Z-2 was, by all appearances, drafted by a sleep-deprived eleven-year old. It causes confusion in the first sentence. It’s riddled with cross-references to incorrect paragraphs and critical but poorly-defined terms of art that often differ from one another by one word.  As a result, while this provision — like the Act as a whole — promises a bounty of tax cuts, only the brightest among us will be able to unlock its secrets.

Continue reading on, Forbes.com

Authored by Tony Nitti, Withum Partner and writer for Forbes.com. 

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