[Federal Register Volume 63, Number 156 (Thursday, August 13, 1998)]
[Proposed Rules]
[Pages 43353-43354]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-21638]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-251698-96]
RIN 1545-AU77


S Corporation Subsidiaries; Hearing

AGENCY: Internal Revenue Service, Treasury.

ACTION: Notice of public hearing on proposed regulations.

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SUMMARY: This document provides notice of a public hearing on proposed 
regulations relating to the treatment of corporate subsidiaries of S 
corporations. In addition, this document announces that persons wishing 
to testify who are outside the Washington, DC area, will be able to 
make their presentations from one of two Internal Revenue Service 
remote teleconference sites.

DATES: The public hearing will be held on Wednesday, September 9, 1998, 
beginning at 1:00 p.m. (EDT). Requests to speak and outlines of oral 
comments must be received by Wednesday, August 20, 1998.

ADDRESSES: The public hearing will be held in room 3411, Internal 
Revenue Building, 1111 Constitution Avenue, NW, Washington, DC. The 
addresses of the remote teleconference sites are listed below under 
Supplementary Information.

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

SUPPLEMENTARY INFORMATION: The subject of the public hearing is 
proposed regulations under section 1308 of the Internal Revenue Code. 
These proposed regulations appeared in the Federal Register (63 FR 
19864) on Wednesday, April 22, 1998.
    The hearing will be held in room 3411 of the Internal Revenue 
Building, 1111 Constitution Avenue, NW. Washington, DC, and in two 
teleconference sites listed below:

Federal Building, 5th Floor, Room 5003, 300 N. Los Angeles Street, Los 
Angeles, California
Robert A. Young Building, 2nd Floor, Conference Room, 1222 Spruce 
Street, St. Louis, MO 63103

    The rules of Sec. 601.601 (a)(3) of the ``Statement of Procedural 
Rules'' (26 CFR part 601) shall apply with respect to the public 
hearing. Persons who have submitted written comments within the time 
prescribed in the notice of proposed rulemaking and who also desire to 
present oral comments at the hearing on the proposed regulations should 
submit not later than Wednesday, August 20, 1998, an outline of the 
oral comments/testimony to be presented at the hearing and the time 
they wish to devote to each subject.
    Each speaker (or group of speakers representing a single entity) 
will be limited to 10 minutes for an oral presentation exclusive of the 
time consumed by the question from the panel for the government and 
answers to these questions.
    Because of controlled access restriction, attendees cannot be 
admitted beyond the lobby of the

[[Page 43354]]

Internal Revenue building until 12:30 p.m. Hearing times at the remote 
teleconference sites will be concurrent with the hearing in Washington, 
DC. (i.e., 10 a.m. PDT and 12 noon CDT)
    Due to limited seating capacity at the remote teleconference sites, 
no more than 12 people may be accommodated at any one time in each 
teleconference room. Seating in the teleconference rooms will be made 
available based on the order of presentations. IRS personnel will be 
available at the remote teleconference sites to assist speakers in 
using the teleconference equipment.
    The Service will prepare an agenda showing the scheduling of 
speakers and will make copies of the agenda available free of charge at 
the hearing. Testimony will begin with the speakers at the remote 
teleconference sites in the following order: Los Angeles, St. Louis, 
and will conclude with presentations by the speakers in Washington, DC.
Cynthia E. Grigsby,
Chief, Regulations Unit, Assistant Chief Counsel (Corporate).
[FR Doc. 98-21638 Filed 8-12-98; 8:45 am]
BILLING CODE CODE 8430-01-P