The IRS today announced the cancellation of a public hearing on proposed regulations relating to the opportunity zone measures under section 1400Z-2 concerning capital gains invested in qualified opportunity funds.
As explained in the IRS release [PDF 82 KB], a new public hearing date on these proposed regulations will be announced once appropriations for the Treasury Department are restored. The new hearing will be scheduled for a date that is at least two weeks after the issuance of the notice announcing the new hearing date.
Read KPMG’s report [PDF 1.34 MB] of initial impressions and observations about the proposed regulations under section 1400Z-2.
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