(From left: Paul Gevertzman, Jeff Bowden)/ Photo by BetsyKim
NEW YORK CITY—The government saw about six trillion dollars of unrealized capital gains, so that's why the Opportunity Zones program is tied to capital gains, said Paul Gevertzman, a tax partner at Anchin Block & Anchin, the largest single public accounting firm in the country.
With prior governmental programs encouraging private investing in distressed areas, people looked to exit shortly after making investments. Thus, this program incentivizes longer commitments noted Gevertzman.
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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.
