Income and Currency Gain or Loss With Respect to a Section 987 QBU; Hearing Cancellation, 66285 [E6-19138]

Download as PDF 66285 Proposed Rules Federal Register Vol. 71, No. 219 Tuesday, November 14, 2006 This section of the FEDERAL REGISTER contains notices to the public of the proposed issuance of rules and regulations. The purpose of these notices is to give interested persons an opportunity to participate in the rule making prior to the adoption of the final rules. DEPARTMENT OF THE TREASURY Internal Revenue Service Wednesday, November 1, 2006, no one has requested to speak. Therefore, the public hearing scheduled for November 21, 2006, is cancelled. Cynthia Grigsby, Senior Federal Register Liaison, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration). [FR Doc. E6–19138 Filed 11–13–06; 8:45 am] BILLING CODE 4830–01–P 26 CFR Part 1 [REG–208270–86] DEPARTMENT OF HOMELAND SECURITY RIN 1545–AM12 Federal Emergency Management Agency Income and Currency Gain or Loss With Respect to a Section 987 QBU; Hearing Cancellation Internal Revenue Service (IRS), Treasury. ACTION: Cancellation of notice of public hearing on proposed rulemaking. sroberts on PROD1PC70 with PROPOSALS AGENCY: SUMMARY: This document cancels a public hearing on proposed regulations concerning the determination of the items of income or loss of a taxpayer with respect to a section 987 qualified business unit, as well as the timing, amount, character and source of any section 987 gain or loss. DATES: The public hearing, originally scheduled for November 21, 2006, at 10 a.m. is cancelled. FOR FURTHER INFORMATION CONTACT: Kelly Banks of the Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration) at (202) 622–0392 (not a toll-free number). SUPPLEMENTARY INFORMATION: A notice of proposed rulemaking and notice of public hearing that appeared in the Federal Register on Thursday, September 7, 2006 (71 FR 52876), announced that a public hearing was scheduled for November 21, 2006, at 10 a.m. in the IRS Auditorium, New Carrollton Federal Building, 5000 Ellin Road, Lanham, MD 20706. The subject of the public hearing is under section 987 of the Internal Revenue Code. The public comment period expires on December 6, 2006. 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 VerDate Aug<31>2005 19:06 Nov 13, 2006 Jkt 211001 44 CFR Part 67 [Docket No. FEMA–D–7682] Proposed Flood Elevation Determinations Federal Emergency Management Agency (FEMA), Department of Homeland Security, Mitigation Division. ACTION: Proposed rule. AGENCY: SUMMARY: Technical information or comments are requested on the proposed Base (1% annual chance) Flood Elevations (BFEs) and proposed BFEs modifications for the communities listed below. The BFEs are the basis for the floodplain management measures that the community is required either to adopt or to show evidence of being already in effect in order to qualify or remain qualified for participation in the National Flood Insurance Program (NFIP). The comment period is ninety (90) days following the second publication of this proposed rule in a newspaper of local circulation in each community. DATES: The proposed BFEs for each community are available for inspection at the office of the Chief Executive Officer of each community. The respective addresses are listed in the table below. FOR FURTHER INFORMATION CONTACT: William R. Blanton, Jr., Engineering Management Section, Mitigation Division, 500 C Street, SW., Washington, DC 20472, (202) 646–3151. ADDRESSES: PO 00000 Frm 00001 Fmt 4702 Sfmt 4702 FEMA proposes to make determinations of BFEs and modified BFEs for each community listed below, in accordance with Section 110 of the Flood Disaster Protection Act of 1973, 42 U.S.C. 4104, and 44 CFR 67.4(a). These proposed BFEs and modified BFEs, together with the floodplain management criteria required by 44 CFR 60.3, are the minimum that are required. They should not be construed to mean that the community must change any existing ordinances that are more stringent in their floodplain management requirements. The community may at any time enact stricter requirements of its own, or pursuant to policies established by other Federal, state or regional entities. These proposed elevations are used to meet the floodplain management requirements of the NFIP and are also used to calculate the appropriate flood insurance premium rates for new buildings built after these elevations are made final, and for the contents in these buildings. National Environmental Policy Act. This proposed rule is categorically excluded from the requirements of 44 CFR Part 10, Environmental Consideration. No environmental impact assessment has been prepared. Regulatory Flexibility Act. As flood elevation determinations are not within the scope of the Regulatory Flexibility Act, 5 U.S.C. 601–612, a regulatory flexibility analysis is not required. Regulatory Classification. This proposed rule is not a significant regulatory action under the criteria of Section 3(f) of Executive Order 12866 of September 30, 1993, Regulatory Planning and Review, 58 FR 51735. Executive Order 13132, Federalism. This rule involves no policies that have federalism implications under Executive Order 13132. Executive Order 12988, Civil Justice Reform. This rule meets the applicable standards of Executive Order 12988. SUPPLEMENTARY INFORMATION: List of Subjects in 44 CFR Part 67 Administrative practice and procedure, Flood insurance, Reporting and recordkeeping requirements. Accordingly, 44 CFR part 67 is proposed to be amended as follows: E:\FR\FM\14NOP1.SGM 14NOP1

Agencies

[Federal Register Volume 71, Number 219 (Tuesday, November 14, 2006)]
[Proposed Rules]
[Page 66285]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-19138]


========================================================================
Proposed Rules
                                                Federal Register
________________________________________________________________________

This section of the FEDERAL REGISTER contains notices to the public of 
the proposed issuance of rules and regulations. The purpose of these 
notices is to give interested persons an opportunity to participate in 
the rule making prior to the adoption of the final rules.

========================================================================


Federal Register / Vol. 71, No. 219 / Tuesday, November 14, 2006 / 
Proposed Rules

[[Page 66285]]



DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-208270-86]
RIN 1545-AM12


Income and Currency Gain or Loss With Respect to a Section 987 
QBU; 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 regulations 
concerning the determination of the items of income or loss of a 
taxpayer with respect to a section 987 qualified business unit, as well 
as the timing, amount, character and source of any section 987 gain or 
loss.

DATES: The public hearing, originally scheduled for November 21, 2006, 
at 10 a.m. is cancelled.

FOR FURTHER INFORMATION CONTACT: Kelly Banks of the Publications and 
Regulations Branch, Legal Processing Division, Associate Chief Counsel 
(Procedure and Administration) at (202) 622-0392 (not a toll-free 
number).

SUPPLEMENTARY INFORMATION: A notice of proposed rulemaking and notice 
of public hearing that appeared in the Federal Register on Thursday, 
September 7, 2006 (71 FR 52876), announced that a public hearing was 
scheduled for November 21, 2006, at 10 a.m. in the IRS Auditorium, New 
Carrollton Federal Building, 5000 Ellin Road, Lanham, MD 20706. The 
subject of the public hearing is under section 987 of the Internal 
Revenue Code.
    The public comment period expires on December 6, 2006. 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 Wednesday, November 1, 2006, no one 
has requested to speak. Therefore, the public hearing scheduled for 
November 21, 2006, is cancelled.

Cynthia Grigsby,
Senior Federal Register Liaison, Publications and Regulations Branch, 
Legal Processing Division, Associate Chief Counsel (Procedure and 
Administration).
 [FR Doc. E6-19138 Filed 11-13-06; 8:45 am]
BILLING CODE 4830-01-P
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