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May 2019 » Financial Planning Using Qualified...
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Kevin Matz, JD, CPA, LLM (Taxation)
In Brief:The Tax Cuts and Jobs Act of 2017 expanded the federal estate, gift, and generation-skipping transfer tax exemption amounts, dramatically changing the landscape of estate tax planning. Less appreciated has been the TCJA's creation of a new tax-deferred investment opportunity called a qualified opportunity zone (QOZ), which holds the potential to similarly reshape income tax planning. The author covers how the exemption increase will affect estate planning in general, then describes the mechanics of QOZs, including some clarifying guidance released by the IRS in late 2018 and the second tranche of proposed regulations released by the Treasury Department and the IRS in April 2019.
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