Public Hearing on Investing in Qualified Opportunity Funds Postponed
January 15, 2019 | James Sprow | Blue Vault
The public hearing on proposed regulations under section 1400Z-2 of the Internal Revenue Code concerning capital gains invested in qualified opportunity funds was scheduled for January 10 and has been postponed due to the Federal government shutdown.
A new date for a public hearing will be published in the Federal Register once appropriations for the Department of the Treasury have been restored. The date for that public hearing will be set for no earlier than two weeks from the date of the new notice.
A notice of public hearing on a notice of proposed rulemaking (REG-115420-18), published in the Federal Register on Monday, October 29, 2018 (83 FR 54279), announced that a public hearing was scheduled for January 10, 2019. The proposed regulations contained in REG-115420-18 provide guidance under new section 1400Z-2 of the Internal Revenue Code relating to gains that a taxpayer may elect to defer to the extent of the taxpayer’s investment in a qualified opportunity fund.
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