The partial federal government shutdown is in its nineteenth day, and it seems some federal services will be unavailable for the foreseeable future. While the IRS Commissioner recently assured taxpayers that the shutdown would not impact the issuance of refunds, other federal processes have not been spared, like the public hearing for Qualified Opportunity Fund regulations.
The hearing was scheduled to occur tomorrow morning (January 10, 2019), but the new date for public testimony will not be determined until after the government reopens. That said, information about Qualified Opportunity Funds and Opportunity Zones can be found at an IRS.gov FAQ.
According to the FAQ, Qualified Opportunity Funds are “an investment vehicle that is set up as either a partnership or corporation for investing in eligible property that is located in a Qualified Opportunity Zone.” These “Opportunity Zones” were created by the Tax Cuts and Jobs Act, which provided that investments in specifically designated “economically-distressed” communities could “be eligible for preferential tax treatment.” The now-cancelled public hearing was an opportunity for submitting testimony regarding regulations that would affect those investments.