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PMC serves clients in many industries and sectors of the economy. The list below is a small sample of this wide range:

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PMC provides a wide variety of services in connection with billions of dollars of construction and development projects all over the United States. Examples of our projects are below; you can also view them grouped into categories by our client’s industry or sector or by the type of services provided.

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The proposed January 10, 2019 IRS hearing on Opportunity Zone regulations released last year was postponed due to the government shutdown. The hearing would have provided the IRS and practitioners the opportunity to discuss the draft regulations to help the IRS understand issues that have been identified so the regulations can be refined to encourage investment. While some real estate projects are moving forward, the potential for new businesses to open in Opportunity Zones and create jobs has been limited in some contexts due to the uncertainty posed by regulations that many believe will be changed. With the government back in operation, the IRS is expected to issue notice of a new date for the hearing. While the timing remains unknown, it is likely the hearing will take place at least two weeks after the notice is issued.

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Additional regulations that were originally expected in December were also delayed because the Treasury Department was shut down.

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Since December 31, 2019 is the deadline for making investments to qualify for a full 15 percent exclusion of existing capital gains taxes, investors are eager to understand potential regulation changes so they can proceed with their investment plans.

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For more information, including a list of our Qualified Opportunity Zones team members, please visit our&nbsp;<a href="https://www.thompsonhine.com/services/qualified-opportunity-zones" target="_blank" rel="noopener">Qualified Opportunity Zones page</a>.

This advisory bulletin may be reproduced, in whole or in part, with the prior permission of Thompson Hine LLP and acknowledgment of its source and copyright. This publication is intended to inform clients about legal matters of current interest. It is not intended as legal advice. Readers should not act upon the information contained in it without professional counsel.

This document may be considered attorney advertising in some jurisdictions.

https://admin.aboutpmc.com/wp-content/uploads/sites/2/2022/10/Qualified_Opportunity_Zone_Alert_-_Shutdown_Delays_IRS_Regulations_for_Opportunity_Zones.pdf

Shutdown Delays IRS Regulations for Opportunity Zones