[Federal Register Volume 66, Number 91 (Thursday, May 10, 2001)]
[Proposed Rules]
[Page 23868]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-11842]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Parts 1 and 301

[REG-101739-00]
RIN-1545-AX75


Clarification of Entity Classification Rules; Hearing 
Cancellation

AGENCY: Internal Revenue Service (IRS), Treasury.

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

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SUMMARY: This document provides notice of cancellation of a public 
hearing on proposed regulations relating to section 7701 that address 
the Federal tax classification of a business entity wholly owned by a 
foreign government and provide that a nonbank entity that is wholly 
owned by a foreign bank cannot be disregarded as an entity separate 
from its owner for purposes of applying the special rules of the 
Internal Revenue Code applicable to banks.

DATES: The public hearing originally scheduled for May 16, 2001, at 10 
a.m., is cancelled.

FOR FURTHER INFORMATION CONTACT: Sonya M. Cruse of the Regulations Unit 
at (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 Friday, 
January 12, 2001, (66 FR 2854), announced that a public hearing was 
scheduled for May 16, 2001, at 10 a.m., in room 6718. The subject of 
the public hearing is proposed regulations under section 7701 of the 
Internal Revenue Code. The public comment period for these regulations 
expired on April 25, 2001.
    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 Friday, May 4, 2001, no one has requested to speak. Therefore, 
the public hearing scheduled for May 16, 2001, is cancelled.

Cynthia E. Grigsby,
Chief, Regulations Unit, Office of Special Counsel (Modernization & 
Strategic Planning).
[FR Doc. 01-11842 Filed 5-9-01; 8:45 am]
BILLING CODE 4830-01-P