[Federal Register Volume 63, Number 190 (Thursday, October 1, 1998)]
[Proposed Rules]
[Page 52660]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-26221]


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 Proposed Rules
                                                 Federal Register
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 This section of the FEDERAL REGISTER contains notices to the public of 
 the proposed issuance of rules and regulations. The purpose of these 
 notices is to give interested persons an opportunity to participate in 
 the rule making prior to the adoption of the final rules.
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  Federal Register / Vol. 63, No. 190 / Thursday, October 1, 1998 / 
Proposed Rules  

[[Page 52660]]


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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 (IRS), 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 in the Los Angeles area will be able to make their 
presentations at an Internal Revenue Service remote videoconference 
site.

DATES: The public hearing will be held October 14, 1998, beginning at 1 
p.m. (EDT). Requests to speak and outlines of oral comments must be 
received by October 7, 1998.

ADDRESSES: The public hearing will be held in room 3411, Internal 
Revenue Building, 1111 Constitution Avenue, NW., Washington, DC. The 
videoconference site for persons testifying in Los Angeles is room 5003 
of the Federal Building at 300 N. Los Angeles Street, Los Angeles, CA.

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 issued under sections 1361, 1362, 1368, and 1374 
of the Internal Revenue Code. These proposed regulations (REG-251698-
96) appeared in the Federal Register (63 FR 19864) and the Internal 
Revenue Bulletin (1998-20 IRB 14 (see Sec. 601.601 (d)(2)(ii)(b))), 
Wednesday, April 22, 1998.
    The hearing was originally scheduled for September 9, 1998, but was 
postponed (63 FR 47455, September 8, 1998). The original hearing was 
also scheduled to be broadcast to a videoconference site in St. Louis. 
However, because of scheduling conflicts and the withdrawal of the St. 
Louis speaker, there will not be a videoconference site available for 
the hearing in St. Louis.
    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 an outline of the oral comments/testimony to be presented at the 
hearing as well as the time they wish to devote to each subject. 
Submissions must be made no later than October 7, 1998.
    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 government panel and answers to those questions.
    Because of controlled access restrictions, attendants cannot be 
admitted beyond the lobby of the Internal Revenue Building until 12:30 
p.m. Hearing times at the Los Angeles videoconference site will be 
concurrent with the hearing in Washington, DC. (i.e., 10 a.m. PDT).
    Due to limited seating capacity at the Los Angeles site, no more 
than 12 people may be accommodated at any one time in the 
videoconference room. Seating in the videoconference room will be made 
available based on the order of presentations. IRS personnel will be 
available at the Los Angeles videoconference site to assist speakers in 
using the videoconference equipment.
    The Service will prepare and provide, free of charge at the 
hearing, an agenda showing the scheduling of speakers. Testimony will 
begin with the speakers at the Los Angeles videoconference site and 
conclude with presentations by the speakers in Washington, DC.
Cynthia Grigsby,
Chief, Regulations Unit, Assistant Chief Counsel (Corporate).
[FR Doc. 98-26221 Filed 9-25-98; 3:33 pm]
BILLING CODE 4830-01-P