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Developers Get More Time with Opportunity Fund Safe Harbor

Law firm Morgan Lewis partner Richard LaFalce looks over the Treasury’s new regulations providing pointers for those in the real estate industry.

Richard LaFalce, partner at Morgan Lewis Richard LaFalce, partner at Morgan Lewis

NEW YORK CITY—The Internal Revenue Service Opportunity Zone Guidelines responded to taxpayers’ concerns. As a result, the proposed regulations made two changes to the safe harbor for working capital.

Richard LaFalce, a former assistant branch chief in the IRS Office of Chief Counsel, financial institutions and products, is now a partner at the law firm Morgan Lewis. He counsels clients on the creation and taxation of investment vehicles including Opportunity Zone funds. LaFalce sat down with GlobeSt.com to explain the safe harbor changes and other ways the proposed regs could affect real estate professionals.

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Betsy Kim

Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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