[Federal Register Volume 63, Number 90 (Monday, May 11, 1998)]
[Proposed Rules]
[Page 25796]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-12340]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-209682-94]
RIN 1545-AS39


Adjustments Following Sales of Partnership Interests

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Postponement of hearing and requests to videoconference 
hearing.

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SUMMARY: This document postpones the public hearing on proposed 
regulations relating to the optional adjustments to the basis of 
partnership property following certain transfers of partnership 
interests under section 743, the calculation of gain or loss under 
section 751(a) following the sale or exchange of a partnership 
interest, the allocation of basis adjustments among partnership assets 
under section 755, the allocation of a partner's basis in its 
partnership interest to properties distributed to the partner by the 
partnership under section 732(c), and the computation of a partner's 
proportionate share of the adjusted basis of depreciable property (or 
depreciable real property) under section 1017. In addition, this 
document announces that persons outside the Washington, DC area who 
wish to testify at the public hearing on the proposed regulations may 
request that the Service videoconference the public hearing to their 
sites.

DATES: Requests to videoconference the hearing to other sites must be 
received by Friday, May 29, 1998.

ADDRESSES: Requests must be sent to: CC:DOM:CORP:R (REG-209682-94), 
room 5226, Internal Revenue Service, POB 7604, Ben Franklin Station, 
Washington, DC 20044. Requests may also be hand delivered between the 
hours of 8 a.m. and 5 p.m. to: CC:DOM:CORP:R (REG-209682-94), Courier's 
Desk, Internal Revenue Service, 1111 Constitution Avenue, NW, 
Washington, DC. Alternatively, taxpayers may submit requests 
electronically via the internet by selecting the ``Tax Regs'' option on 
the IRS Home Page, or by submitting requests directly to the IRS 
internet site at http://www.irs.ustreas.gov/prod/tax__regs/
comments.html.

FOR FURTHER INFORMATION CONTACT: LaNita VanDyke 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 appearing in the Federal Register on Thursday, 
January 29, 1998 (63 FR 4408), announced that a public hearing with 
respect to proposed regulations relating to adjustments to a partner's 
basis in its partnership interest and a partnership's basis in its 
assets would be held on Wednesday, July 8, 1998, beginning at 10 a.m. 
in the IRS Auditorium, Internal Revenue Building, 1111 Constitution 
Avenue, NW., Washington DC, and that requests to speak and outlines of 
oral comments should be received by Wednesday, June 24, 1998.
    Subsequent to this announcement, the Service received a request 
that the hearing be videoconferenced. The Service recognizes that other 
persons outside the Washington, DC area may also wish to testify 
through videoconferencing. Those persons should now request to do so.
    Requests to include other videoconferencing sites must be received 
by Friday, May 29, 1998. If the Service receives sufficient indications 
of interest to warrant videoconferencing to a particular city and if 
the Service has videoconferencing facilities in that city, the Service 
will accommodate the requests.
    Accordingly, the public hearing originally scheduled for July 8, 
1998, is postponed. The Service will issue a document in the Federal 
Register announcing the new date, time, and any videoconference sites 
of the public hearing.
Cynthia Grigsby,
Chief, Regulations Unit, Assistant Chief Counsel (Corporate).
[FR Doc. 98-12340 Filed 5-8-98; 8:45 am]
BILLING CODE 4830-01-U