[Federal Register Volume 74, Number 67 (Thursday, April 9, 2009)]
[Proposed Rules]
[Page 16161]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-8134]


=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-150066-08]
RIN 1545-BI45


Guidance Regarding Foreign Base Company Sales Income; Hearing 
Cancellation

AGENCY: Internal Revenue Service (IRS), Treasury.

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

-----------------------------------------------------------------------

SUMMARY: This document cancels a public hearing on proposed rulemaking 
relating to the foreign base company sales income, in cases in which 
personal property sold by a controlled foreign corporation (CFC) is 
manufactured, produced, or constructed pursuant to a contract 
manufacturing arrangement or by one or more branches of the CFC. The 
temporary regulations modify the foreign base company sales income 
regulations to address current business structures and practices, 
particularly the growing importance of contract manufacturing and other 
manufacturing arrangements. The temporary regulations, in general, will 
affect CFCs and their United States shareholders.

DATES: The public hearing, originally scheduled for April 20, 2009, 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].

SUPPLEMENTARY INFORMATION: A notice of public hearing that appeared in 
the Federal Register on Monday, December 29, 2008 (73 FR 79421), 
announced that a public hearing was scheduled for April 20, 2009, at 10 
a.m., in the auditorium, Internal Revenue Building, 1111 Constitution 
Avenue, NW., Washington, DC. The subject of the public hearing is under 
section 954 of the Internal Revenue Code.
    The public comment period for these regulations expired on March 
30, 2009. Outlines of topics to be discussed at the hearing were due on 
April 2, 2009. The notice of proposed rulemaking and notice of public 
hearing instructed those interested in testifying at the public hearing 
to submit an outline of the topics to be addressed. As of Monday, April 
6, 2009, no one has requested to speak. Therefore, the public hearing 
scheduled for April 20, 2009, is cancelled.

LaNita Van Dyke,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel, Procedure and Administration.
 [FR Doc. E9-8134 Filed 4-8-09; 8:45 am]
BILLING CODE 4830-01-P