72 OPPORTUNITY ZONE MAGAZINE | ISSUE 2 • VOLUME 2
DANIEL RYAN
SULLIVAN & WORCESTER
Daniel Ryan is a partner in the tax department at Sullivan & Worcester . He is one of the founders of the firm ' s Opportunity Zone practice group and has assisted in the structuring of over $ 1 billion in Opportunity Zone projects throughout the country , including both real estate and operating businesses . Ryan also represents taxpayers in federal and state tax litigation and controversies as well as transactional planning involving corporate , franchise , personal income and sales / use tax matters . Prior to joining Sullivan , he was an attorney at the Internal Revenue Service Office of Chief Counsel .
WHAT NEW TAX CHANGES IMPACTING THE OPPORTUNITY ZONE INDUSTRY CAN WE EXPECT IN 2022 ?
Because it does not appear that there will be any tax changes prior to year-end , the potential exists for some sort of tax changes to occur early in 2022 . Hopefully any changes will include an extension of the 2026 deadline in the Opportunity Zone statute , and potentially the ability for governors to nominate new Opportunity Zones in their states and territories .
RYAN SCHELLHOUS
INDIGOSPIRE ADVISORS LLC
Ryan Schellhous has been practicing as a CPA for over 15 years and managing IndigoSpire Advisors for the past five years . His Opportunity Zone tax practice emphasis has been on helping smaller individuals and families implement and navigate the QOZ complexities in small , privately-held entity groups . The firm manages and advises nearly 100 QOFs on issues such as asset-testing , distribution strategy , cash-flow management and QOZB stacking for investors who want to manage their own deals and retain investment autonomy instead of relying on investing in larger syndicated QOFs .
WHAT NEW TAX CHANGES IMPACTING THE OPPORTUNITY ZONE INDUSTRY CAN WE EXPECT IN 2022 ?
I am not expecting the current political environment to yield many changes to existing law . I am hopeful , however , that Treasury will continue to provide clarifying regulations , Congressional leads expand the geographies of QOZs and California to ( finally !) adopt conformity to the QOZ legislation for state tax purposes . I also hope to see stronger deal flow to match the strong flow of capital looking for deals in QOZs .
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