At a groundbreaking in Arizona earlier this year, Nancy Wakefield says she got to see firsthand the manifestation of the benefits of the new Opportunity Zone provision. As tax senior director at RSM US, she’s familiar with interpreting new tax law, but §§ 1400Z of the 2017 Tax Cuts and Jobs Act offered something new. It created the Qualified Opportunity Zone (QOZ) program. “If this code section works the way it’s supposed to, it should be a win-win for an investor and communities,” Wakefield says. “The purpose is to channel private-sector dollars into distressed communities, where 31 million Americans live.” Read more at www.rednews.com.