Income taxes: S corporations— Pass through of items to shareholders; public hearing cancellation,

[Federal Register: December 8, 1998 (Volume 63, Number 235)]

[Proposed Rules]

[Page 67634-67635]

From the Federal Register Online via GPO Access [wais.access.gpo.gov]

[DOCID:fr08de98-23]

DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-209446-82]

RIN 1545-AT52

Pass Through of Items of an S Corporation to its Shareholders; Hearing Cancellation

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Cancellation of notice of public hearing on proposed rulemaking.

SUMMARY: This document provides notice of cancellation of a public hearing on proposed regulations relating to the pass through of items of an S

[[Page 67635]]

corporation to its shareholders, the adjustments to the basis of stock of the shareholders, and the treatment of distributions by an S corporation.

DATES: The public hearing originally scheduled for Tuesday, December 15, 1998, at 10 a.m., is cancelled.

FOR FURTHER INFORMATION CONTACT: Michael L. Slaughter of the Regulations Unit, Assistant Chief Counsel (Corporate), (202) 622-7180 (not a toll-free number).

SUPPLEMENTARY INFORMATION: A notice of proposed rulemaking and notice of public hearing that appeared in the Federal Register on Tuesday, August 18, 1998 (63 FR 44181), announced that a public hearing was scheduled for Tuesday, December 15, 1998, at 10 a.m., in room 2615, Internal Revenue Building, 1111 Constitution Avenue, NW., Washington, DC. The subject of the public hearing is proposed regulations under section 1366, 1367 and 1368 of the Internal Revenue Code. The public comment period for these proposed regulations expired on Monday, November 16, 1998.

The notice of proposed rulemaking and notice of public hearing, instructed those interested in testifying at the public hearing to submit a request to speak and an outline of the topics to be addressed. As of December 2, 1998, no one has requested to speak. Therefore, the public hearing scheduled for Tuesday, December 15, 1998, is cancelled. Cynthia E. Grigsby, Chief, Regulations Unit, Assistant Chief Counsel (Corporate).

[FR Doc. 98-32467Filed12-7-98; 8:45 am]

BILLING CODE 4830-01-U