Opportunity Zones Could Stand Up and Stand Out in 2021

The Opportunity Zone Program was created with bipartisan support as part of the 2017 Tax Cuts and Jobs Act as a way to inject capital into areas that need the investment, but it has since come under scrutiny as a tax giveaway with uncertain benefits for everyday America. The IRS has formalized the rules, the money has been flowing into qualified opportunity funds (QOFs) in a growing torrent, and the time is drawing near -- June 30, 2021, for many of those QOFs -- that those investments have to be put to work in those 8,700 census tracts designated as opportunity zones.