The IRS has updated the Opportunity Zones Frequently Asked Questions document to reflect that both 2017 and 2018 gains invested in Opportunity Zone Funds are eligible for deferral. If 2017 taxes were already filed, the taxpayer may amend the return. IRS Form 8949 is to be used for these purposes and precise instructions on how to use form 8949 are forthcoming.
A list of currently approved Opportunity Zones is available on the CDFI Fund website.
Representative Tom Cole (R-OK) will chair the full House Appropriations committee, following the retirement of Chair Kay Granger (R-TX) at the end of her term.
On April 16, the Housing, Transportation and Community Development Subcommittee of the Senate Committee on Banking, Housing and Urban Affairs held a hearing on Challenges in Preserving the U.S. Housing Stock.
The Senate Committee on Banking, Housing and Urban Affairs will hold an Oversight of Federal Housing Regulators hearing on April 18 at 10 a.m. ET. HUD Acting Secretary Adrianne Todman and Federal Housing Finance Agency (FHFA) Director Sandra Thompson will testify.
HUD published a proposed rule that would amend the regulations governing admission to certain HUD-supported housing for applicants with criminal records or histories of involvement with the criminal justice system and evictions based on illegal drug use, drug-related criminal activity or other criminal activity.