[Federal Register Volume 71, Number 76 (Thursday, April 20, 2006)]
[Proposed Rules]
[Page 20376]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-5923]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-143244-05]
RIN 1545-BE93


Guidance Under Section 7874 for Determining Ownership by Former 
Shareholders or Partners of Domestic Entities; 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 cancels a public hearing on proposed regulations 
relating to the disregard of affiliate-owned stock in determining the 
percentage of stock of a foreign corporation held by former 
shareholders or partners of a domestic entity, in order to determine 
whether the foreign corporation is a surrogate foreign corporation 
under section 7874 of the Internal Revenue Code.

DATES: The public hearing originally scheduled for April 27, 2006, at 
10 a.m., is cancelled.

FOR FURTHER INFORMATION CONTACT: Robin R. Jones of the Publications and 
Regulations Branch, Legal Processing Division, Associate Chief Counsel 
(Procedure and Administration) 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 December 28, 
2005 (70 FR 76732) announced that a public hearing was scheduled for 
April 27, 2006, at 10 a.m., in the IRS Auditorium, Internal Revenue 
Service, 1111 Constitution Avenue, NW., Washington, DC. The subject of 
the public hearing is under section 7874 of the Internal Revenue Code. 
The public comment period for these regulations expired on April 6, 
2006.
    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, April 14, 2006, no one has requested to speak. Therefore, 
the public hearing scheduled for April 27, 2006, is cancelled.

Guy R. Traynor,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel, (Procedure and Administration).
[FR Doc. E6-5923 Filed 4-19-06; 8:45 am]
BILLING CODE 4830-01-P