TOP 25 TAX SPECIALISTS
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MICHAEL NOVOGRADAC
NOVOGRADAC
Michael Novogradac is the managing partner of Novogradac , where he has specialized in affordable housing , community development , historic preservation and renewable energy tax incentives since 1989 . He is the author of numerous real estate-related tax and accounting articles and books , including the Novogradac Opportunity Zones Handbook . He is frequently quoted in national media and speaks at conferences . Novogradac actively advocates for the inclusion of community development tax incentives in tax policy and provides input to federal and state agencies as well as members of Congress , including testimony before the United States House Committee on Ways and Means .
WHAT NEW TAX CHANGES IMPACTING THE OPPORTUNITY ZONE INDUSTRY CAN WE EXPECT IN 2022 ?
There are several potential , but currently unlikely , legislative tax changes that would affect Opportunity Zones investment in 2022 , such as an increase in the corporate tax and individual capital gains rate , enactment of a reporting requirement , and phasing out some higher income Opportunity Zones . If tax rates on capital gains are higher , then the ability to invest in an Opportunity Fund and both defer paying taxes on current capital gains and exclude any future capital gains realized from OZ investments becomes even more valuable . We expect most tax changes to occur on the regulatory front , within the Treasury Department .
MARIA DE LOS ANGELES RIVERA
GRANT THORNTON
Maria de los Angeles Rivera has over 36 years of experience in public accounting . In her role as tax partner , she engages in the design and development of tax planning and consulting strategies , which includes tax services in mergers and acquisitions , business reorganizations , partnership transactions , tax incentives and exemptions , individual and corporate tax issues , and others . Since the designation of Puerto Rico as an Opportunity Zone , Rivera has been engaged in presentations as guest speaker , worked with grant applications , the development of tax planning structures , and other incentives programs for eligible taxpayers . Rivera holds a bachelor ’ s degree in business administration from Catholic University of Puerto Rico and a master ’ s degree in public accountancy from the University of Texas at Austin .
WHAT NEW TAX CHANGES IMPACTING THE OPPORTUNITY ZONE INDUSTRY CAN WE EXPECT IN 2022 ?
As we say in Puerto Rico , that is the 64,000 cents question ! Any substantial change in the Opportunity Zones benefits will have to be legislated . What we know : IMPACT Act – bill presented to require more information and transparency to determine the impact of Opportunity Zone investment ; bills presented for the possible extension to the December 31 , 2026 statutory recognition date for deferred capital gains and possibility of obtaining the 10 % step-up for investment made after December 31 , 2021 ; possible change in long-term capital gains rate ; requirement for legislation to adjust the designated zones after the results of the 2020 Census and inclusion of non-deferral investment for the long-term tax exclusion .
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