Hacker News new | ask | show | jobs
by overdrivetg 2795 days ago
But isn't the IRS knocking in a few years better than the IRS knocking THIS year?

IANAL (or a CPA), but it seems like a good-faith attempt to invest in an OZ should not incur penalties later. Disclaimer: you are taking about the IRS, so logic/fairness may not apply.

Also: why would personal investment be against the spirit of the OZ legislation? It seems to focus on getting the property developed, not why it is developed.
2 comments
anonu 2795 days ago
> But isn't the IRS knocking in a few years better than the IRS knocking THIS year?

There's a 3rd option: How about the IRS knocking never? I say that in jest as I know you have a 1:3 chance in getting audited just through the normal course of business. I suppose it depends on your risk tolerance.

link
jsoc815 2795 days ago
> But isn't the IRS knocking in a few years better than the IRS knocking THIS year?

This depends on the penalties that the Service/Treasury aims to collect and their ability to tie-up and/or seize one's assets.

link