[Federal Register Volume 71, Number 51 (Thursday, March 16, 2006)]
[Proposed Rules]
[Pages 13560-13563]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 06-2533]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-133446-03]
RIN 1545-BC37


Guidance on Passive Foreign Investment Company (PFIC) Purging 
Elections; Hearing Cancellation

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Cancellation of notice of public hearing.

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SUMMARY: This document provides notice of cancellation of a public 
hearing on a notice of proposed rulemaking by cross-reference to 
temporary regulations, notice of proposed rulemaking, and notice of 
public hearing providing certain elections for taxpayers, who in 
limited circumstances, continue to be subject to the excess 
distribution regime of section 1291 even though the foreign corporation 
in which they own stock is no longer treated as a PFIC under 
section1297(e).

DATES: The public hearing originally scheduled for Wednesday, March 22, 
2006, at 10 a.m., is cancelled.

FOR FURTHER INFORMATION CONTACT: Richard A. Hurst of the Publications 
and Regulations Branch, Legal Processing Division, Associate Chief 
Counsel, (Procedure and Administration) at 
[email protected] or (202) 622-7180 (not a toll-free 
number).

SUPPLEMENTARY INFORMATION: A notice of proposed rulemaking by cross-
reference to temporary regulations, notice of proposed rulemaking, and 
notice of public hearing that appeared in the Federal Register on 
Thursday, December 8, 2005, (70 FR 72952), announced that a public 
hearing was scheduled for March 22, 2006 at 10 a.m., in the IRS 
Auditorium, Internal Revenue Service Building, 1111 Constitution 
Avenue, NW., Washington, DC. The subject of the public hearing is 
proposed regulations under section 1291 of the Internal Revenue Code. 
The public comment period for these proposed regulations expired on 
March 8, 2006.
    A notice of proposed rulemaking by cross-reference to temporary 
regulations, 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 March 8, 2006, no one has requested to speak.

[[Page 13561]]

Therefore, the public hearing scheduled for March 22, 2006, is 
cancelled.

Guy R. Traynor,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel (Procedure and Administration).
[FR Doc. 06-2533 Filed 3-15-06; 8:45 am]
BILLING CODE 4830-01-P