Official Blog


Small Business Tax Incentives in Economically Distressed Areas

Date: 03/07/2007 | Category: Business | Author: John Vanhara

Under the Community Renewal Act of 2000, the IRS and the Department of Housing and Urban Development (HUD) are partnering to educate small businesses about special tax incentives available in economically distressed areas which promote economic development, help businesses open and expand and stimulate job growth.

On March 15 at 2:00 pm EST the IRS and HUD are participating in a teleconference that offers the opportunity for tax preparers and small businesses to learn more about small  business tax incentives in certain economically distressed areas. Register with HUD by e-mail.

IRS Publication 954, Tax Incentives for Distressed Communities, provides information about the tax incentives for businesses located in designated Empowerment Zones and/or Renewal Communities.

HUD Publication, Spotlight on Results: Capturing Successes in Renewal Communities and Empowerment Zones, highlights the program’s tax incentives and successes.

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