[Federal Register Volume 85, Number 138 (Friday, July 17, 2020)]
[Proposed Rules]
[Pages 43512-43513]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-15019]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-113295-18]
RIN 1545-BO87


Effect of Section 67(g) on Trusts and Estates; Hearing

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Proposed rule; notice of hearing.

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SUMMARY: This document provides a notice of public hearing on proposed 
regulations clarifying that certain deductions allowed to an estate or 
non-grantor trust are not miscellaneous itemized deductions and thus 
are not affected by the suspension of the deductibility of 
miscellaneous itemized deductions for taxable years beginning

[[Page 43513]]

after December 31, 2017 and before January 1, 2026. The proposed 
regulations also provide guidance on determining the character, amount, 
and allocation of deductions in excess of gross income succeeded to by 
a beneficiary on the termination of an estate or non-grantor trust.

DATES: The public hearing is being held on Wednesday, August 12, 2020 
at 10:00 a.m. The IRS must receive speakers' outlines of the topics to 
be discussed at the public hearing by Wednesday, July 29, 2020. If no 
outlines are received by July 29, 2020, the public hearing will be 
cancelled.

ADDRESSES: The public hearing is being held by teleconference. 
Individuals who want to testify (by telephone) at the public hearing 
must send an email to [email protected] to receive the telephone 
number and access code for the hearing. The subject line of the email 
must contain the regulation number [REG-113295-18] and the word 
TESTIFY. For example, the subject line may say: Request to TESTIFY at 
Hearing for REG-113295-18. The email should also include a copy of the 
speaker's public comments and outline of topics. The email must be 
received by July 29, 2020.
    Individuals who want to attend (by telephone) the public hearing 
must also send an email to [email protected] to receive the 
telephone number and access code for the hearing. The subject line of 
the email must contain the regulation number [REG-113295-18] and the 
word ATTEND. For example, the subject line may say: Request to ATTEND 
Hearing for REG-113295-18. The email requesting to attend the public 
hearing must be received by 5:00 p.m. two (2) business days before the 
date that the hearing is scheduled.
    The telephonic hearing will be made accessible to people with 
disabilities. To request special assistance during the telephonic 
hearing please contact the Publications and Regulations Branch of the 
Office of Associate Chief Counsel (Procedure and Administration) by 
sending an email to [email protected] (preferred) or by telephone 
at (202) 317-5177 (not a toll-free number) at least three (3) days 
prior to the date that the telephonic hearing is scheduled.
    Any questions regarding speaking at or attending a public hearing 
may also be emailed to [email protected].
    Send outline submissions electronically via the Federal eRulemaking 
Portal at www.regulations.gov (IRS REG-113295-18).

FOR FURTHER INFORMATION CONTACT: Concerning the proposed regulations, 
Margaret Burow, (202) 317-5279; concerning submissions of comments, the 
hearing, and the access code to attend the hearing by teleconferencing, 
Regina Johnson at (202) 317-5177 (not toll-free numbers) or 
[email protected]. If emailing please put Attend, Testify, or 
Agenda Request and [REG-113295-18] in the email subject line.

SUPPLEMENTARY INFORMATION: 
    The subject of the public hearing is the notice of proposed 
rulemaking REG-113295-18 that was published in the Federal Register on 
Monday, May 11, 2020, 85 FR 27693.
    The rules of 26 CFR 601.601(a)(3) apply to the hearing. Persons who 
wish to present oral comments telephonically at the hearing that 
submitted written comments by June 25, 2020, must submit an outline of 
the topics to be addressed and the amount of time to be devoted to each 
topic by July 29, 2020.
    A period of 10 minutes is allotted to each person for presenting 
oral comments. After the deadline for receiving outlines has passed, 
the IRS will prepare an agenda containing the schedule of speakers. 
Copies of the agenda will be made available, on Regulations.gov, search 
IRS and REG-113295-18, or by emailing your request to 
[email protected]. Please put ``REG-113295-18 Agenda Request'' in 
the subject line of the email.

Martin V. Franks,
Branch Chief, Publications and Regulations Branch, Legal Processing 
Division, Associate Chief Counsel (Procedure and Administration).
[FR Doc. 2020-15019 Filed 7-16-20; 8:45 am]
BILLING CODE 4830-01-P