[Federal Register Volume 69, Number 158 (Tuesday, August 17, 2004)]
[Proposed Rules]
[Page 51026]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-18791]



[[Page 51026]]

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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-165579-02]
RIN 1545-BB81


Withdrawal of Proposed Regulations Relating to Corporate 
Reorganizations; Transfers of Assets or Stock Following a 
Reorganization

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Withdrawal of notice of proposed rulemaking.

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SUMMARY: This document withdraws a notice of proposed rulemaking 
regarding the effect of certain transfers of assets or stock on the 
qualification of certain transactions as reorganizations under section 
368(a). The proposed regulations were published on March 2, 2004. After 
consideration of additional issues related to the effect of transfers 
of assets or stock on the qualification of a transaction as a 
reorganization, the IRS and Treasury Department have decided to 
withdraw the proposed regulations and issue new proposed regulations 
that provide a more complete set of rules addressing such transfers.

DATES: These proposed regulations are withdrawn August 17, 2004.

FOR FURTHER INFORMATION CONTACT: Jeffrey B. Fienberg (202) 622-7770 
(not a toll-free call).

SUPPLEMENTARY INFORMATION:

Background

    On March 2, 2004, the IRS and Treasury Department issued proposed 
regulations regarding the effect of certain transfers of assets or 
stock on the qualification of certain transactions as reorganizations 
under section 368(a) (69 FR 9771) (hereinafter the March 2004 proposed 
regulations). After consideration of additional issues related to the 
effect of transfers of assets or stock on the qualification of a 
transaction as a reorganization, including distributions of assets or 
stock after purported reorganizations, the IRS and Treasury Department 
have decided to withdraw the March 2004 proposed regulations and issue 
new proposed regulations that provide a more complete set of rules 
addressing such transfers. Accordingly, the March 2004 proposed 
regulations are withdrawn.

Drafting Information

    The principal author of this withdrawal notice is Jeffrey B. 
Fienberg of the Office of Associate Chief Counsel (Corporate).

List of Subjects in 26 CFR Part 1

    Income taxes, Reporting and recordkeeping requirements.

Withdrawal of Notice of Proposed Rulemaking

    Accordingly, under the authority of 26 U.S.C. 7805, the notice of 
proposed rulemaking (REG-165579-02) published in the Federal Register 
on March 2, 2004 (69 FR 9771) is hereby withdrawn.

Deborah M. Nolan,
Acting Deputy Commissioner for Services and Enforcement.
[FR Doc. 04-18791 Filed 8-16-04; 8:45 am]
BILLING CODE 4830-01-P