Reduction of Foreign Tax Credit Limitation Categories Under Section 904(d); Hearing Cancellation

Federal Register: March 28, 2008 (Volume 73, Number 61)

Proposed Rules

Page 16610-16611

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

DOCID:fr28mr08-21

DEPARTMENT OF THE TREASURY

Internal Revenue Service 26 CFR Part 1

REG-114126-07

RIN 1545-BG54

Reduction of Foreign Tax Credit Limitation Categories Under

Section 904(d); Hearing Cancellation

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Cancellation of notice of public hearing on proposed rulemaking by cross-reference to temporary regulations.

SUMMARY: This document cancels a public hearing on proposed regulations that provide guidance relating to the reduction of the number of separate foreign tax credit limitation categories under section 904(d) of the Internal Revenue Code. Changes to the applicable law were made by the American Jobs Creation Act of 2004 reducing the number of section 904(d) separate categories from eight to two, effective for taxable years beginning after December 31, 2006.

DATES: The public hearing, originally scheduled for April 22, 2008, at 10 a.m. is cancelled.

FOR FURTHER INFORMATION CONTACT: Funmi Taylor of the Publications and

Regulations Branch, Legal Processing Division, Associate Chief Counsel

(Procedure and Administration) at (202) 622-3628 (not a toll-free number).

SUPPLEMENTARY INFORMATION: A notice of proposed rulemaking by cross- reference to temporary regulations and a notice of public hearing that appeared in the Federal Register on Friday, December 21, 2007 (72 FR 72645), announced that a public hearing was scheduled for April 22, 2008, at 10 a.m. in the IRS Auditorium, Internal Revenue Building, 1111

Constitution Avenue, NW., Washington, DC. The subject of the public hearing is under the section 904 of the Internal Revenue Code.

The public comment period for these regulations expired on March 20, 2008. The notice of proposed rulemaking by

Page 16611

cross-reference to temporary regulations 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 Tuesday, March 25, 2008, no one has requested to speak.

Therefore, the public hearing scheduled for April 22, 2008, is cancelled.

LaNita Van Dyke,

Chief, Publications and Regulations Branch, Legal Processing Division,

Associate Chief Counsel (Procedure and Administration).

FR Doc. E8-6306 Filed 3-27-08; 8:45 am

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