(From left: Paul Gevertzman, Jeff Bowden) (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.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

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.