Treasury recently released Proposed Regulations providing guidance to those looking to qualify for the new Qualified Opportunity Zone (“QOZ”) tax incentives created by the Tax Cuts and Jobs Act of 2017 (“TCJA”). Congress created this new tax incentive to encourage investments in certain low-income communities that have been designated as “Qualified Opportunity Zones.” In sum, the QOZ rules allow a taxpayer to defer tax on the gain from the sale of property if, within 180 days, the taxpayer invests in a Qualified Opportunity Fund (“QOF”).