Information Reporting Requirements Under Internal Revenue Code Section 6039; Hearing, 61770 [E8-24653]

Download as PDF 61770 Federal Register / Vol. 73, No. 202 / Friday, October 17, 2008 / Proposed Rules incurred by the state and by its recipients are in conformance with the following cost principles, as applicable: (i) ‘‘Cost Principles for State, Local, and Indian Tribal Governments (OMB Circular A–87),’’ which is codified at 2 CFR part 225; (ii) ‘‘Cost Principles for Non-Profit Organizations (OMB Circular A–122),’’ which is codified at 2 CFR part 230; and (iii) ‘‘Cost Principles for Educational Institutions (OMB Circular A–21),’’ which is codified at 2 CFR part 220. (2) All cost items described in Appendix B of 2 CFR part 225 that require federal agency approval are allowable without prior approval of HUD to the extent they otherwise comply with the requirements of 2 CFR part 225 and are otherwise eligible under this subpart I, except for the following: (i) Depreciation methods for fixed assets shall not be changed without the express approval of HUD or, if charged through a cost allocation plan, the cognizant federal agency. (ii) Fines and penalties (including punitive damages) are unallowable costs to the CDBG program. 5. Add § 570.490(a)(3) to read as follows: § 570.490 Recordkeeping requirements. Program income. jlentini on PROD1PC65 with PROPOSALS * * * * * (e)(1) Transfer of program income to Entitlement program. A unit of general local government that becomes eligible to be an Entitlement grantee may request the state’s approval to transfer State CDBG grant-generated program income to the unit of general local government’s Entitlement program. A state may approve the transfer, provided the unit of general local government: (i) Has officially elected to participate in the Entitlement grant program; (ii) Agrees to use such program income in accordance with Entitlement program requirements; (iii) Has set up Integrated Disbursement and Information System (IDIS) access and agrees to enter receipt of program income into IDIS. VerDate Aug<31>2005 17:14 Oct 16, 2008 Jkt 217001 Dated: September 23, 2008. Susan D. Peppler, Assistant Secretary for Community Planning and Development. [FR Doc. E8–24572 Filed 10–16–08; 8:45 am] BILLING CODE 4210–67–P DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 1 (a) * * * (3) Integrated Disbursement and Information System (IDIS). The state shall make entries into IDIS in a form prescribed by HUD to accurately capture the state’s accomplishment and funding data, including program income, for each program year. It is recommended that the state enter IDIS data on a quarterly basis and it is required to be entered annually. * * * * * 6. Add § 570.504(e) to read as follows: § 570.504 (2) Transfer of program income of grantees losing Entitlement status. Upon entry into the State CDBG program, a unit of general local government that has lost or relinquished its Entitlement status must, with respect to program income that a unit of general local government would otherwise be permitted to retain, either: (1) Retain the program income generated under Entitlement grants and continue to comply with Entitlement program requirements for program income; or (2) Retain the program income and transfer it to the State CDBG program, in which case the unit of general local government must comply with the state’s rules for program income and the requirements of § 570.489(e). [REG–103146–08] RIN 1545–BH69 Information Reporting Requirements Under Internal Revenue Code Section 6039; Hearing Internal Revenue Service (IRS), Treasury. ACTION: Notice of public hearing on proposed rulemaking. AGENCY: SUMMARY: This document provides notice of public hearing on a notice of proposed rulemaking relating to the return and information statement requirements under section 6039 of the Internal Revenue Code. These regulations reflect changes to section 6039 made by section 403 of the Tax Relief and Health Care Act of 2006. These proposed regulations affect corporations that issue statutory stock options and provide guidance to assist corporations in complying with the return and information statement requirements under section 6039. DATES: The public hearing is being held on October 30, 2008, at 10 a.m. The IRS must receive outlines of the topics to be discussed at the hearing by October 23, 2008. ADDRESSES: The public hearing is being held in room 2116, Internal Revenue PO 00000 Frm 00024 Fmt 4702 Sfmt 4702 Building, 1111 Constitution Avenue, NW., Washington, DC. Send submissions to: CC:PA:LPD:PR (REG– 103146–08), room 5203, Internal Revenue Service, P.O. Box 7604, Ben Franklin Station, Washington, DC 20044. Submissions may be handdelivered Monday through Friday between the hours of 8 a.m. and 4 p.m. to CC:PA:LPD:PR (REG–103146–08), Courier’s Desk, Internal Revenue Service, 1111 Constitution Avenue, NW., Washington, DC. Alternatively, taxpayers may submit electronic outlines of oral comments via the Federal eRulemaking Portal at https:// www.regulations.gov. FOR FURTHER INFORMATION CONTACT: Concerning the regulations, Thomas Scholz at (202) 622–6030 (not a toll-free number); concerning submissions of comments, the hearing, and/or to be placed on the building access list to attend the hearing, Richard A. Hurst at Richard.A.Hurst@irscounsel.treas.gov. SUPPLEMENTARY INFORMATION: The subject of the public hearing is the notice of proposed rulemaking (REG– 103146–08) that was published in the Federal Register on Thursday, July 17, 2008 (73 FR 40999). Persons who wish to present oral comments at the hearing that submitted written comments, must submit an outline of the topics to be discussed and the amount of time to be devoted to each topic (signed original and eight (8) copies) by October 23, 2008. 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, free of charge, at the hearing or in the Freedom of Information Reading Room (FOIA RR) (Room 1621) which is located at the 11th and Pennsylvania Avenue, NW., entrance, 1111 Constitution Avenue, NW., Washington, DC. Because of access restrictions, the IRS will not admit visitors beyond the immediate entrance area more than 30 minutes before the hearing starts. For information about having your name placed on the building access list to attend the hearing, see the FOR FURTHER INFORMATION CONTACT section of this document. Cynthia Grigsby, Acting Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration). [FR Doc. E8–24653 Filed 10–16–08; 8:45 am] BILLING CODE 4830–01–P E:\FR\FM\17OCP1.SGM 17OCP1

Agencies

[Federal Register Volume 73, Number 202 (Friday, October 17, 2008)]
[Proposed Rules]
[Page 61770]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-24653]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-103146-08]
RIN 1545-BH69


Information Reporting Requirements Under Internal Revenue Code 
Section 6039; Hearing

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice of public hearing on proposed rulemaking.

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SUMMARY: This document provides notice of public hearing on a notice of 
proposed rulemaking relating to the return and information statement 
requirements under section 6039 of the Internal Revenue Code. These 
regulations reflect changes to section 6039 made by section 403 of the 
Tax Relief and Health Care Act of 2006. These proposed regulations 
affect corporations that issue statutory stock options and provide 
guidance to assist corporations in complying with the return and 
information statement requirements under section 6039.

DATES: The public hearing is being held on October 30, 2008, at 10 a.m. 
The IRS must receive outlines of the topics to be discussed at the 
hearing by October 23, 2008.

ADDRESSES: The public hearing is being held in room 2116, Internal 
Revenue Building, 1111 Constitution Avenue, NW., Washington, DC. Send 
submissions to: CC:PA:LPD:PR (REG-103146-08), room 5203, Internal 
Revenue Service, P.O. Box 7604, Ben Franklin Station, Washington, DC 
20044. Submissions may be hand-delivered Monday through Friday between 
the hours of 8 a.m. and 4 p.m. to CC:PA:LPD:PR (REG-103146-08), 
Courier's Desk, Internal Revenue Service, 1111 Constitution Avenue, 
NW., Washington, DC. Alternatively, taxpayers may submit electronic 
outlines of oral comments via the Federal eRulemaking Portal at https://
www.regulations.gov.

FOR FURTHER INFORMATION CONTACT: Concerning the regulations, Thomas 
Scholz at (202) 622-6030 (not a toll-free number); concerning 
submissions of comments, the hearing, and/or to be placed on the 
building access list to attend the hearing, Richard A. Hurst at 
Richard.A.Hurst@irscounsel.treas.gov.

SUPPLEMENTARY INFORMATION: The subject of the public hearing is the 
notice of proposed rulemaking (REG-103146-08) that was published in the 
Federal Register on Thursday, July 17, 2008 (73 FR 40999).
    Persons who wish to present oral comments at the hearing that 
submitted written comments, must submit an outline of the topics to be 
discussed and the amount of time to be devoted to each topic (signed 
original and eight (8) copies) by October 23, 2008.
    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, free of charge, at the 
hearing or in the Freedom of Information Reading Room (FOIA RR) (Room 
1621) which is located at the 11th and Pennsylvania Avenue, NW., 
entrance, 1111 Constitution Avenue, NW., Washington, DC.
    Because of access restrictions, the IRS will not admit visitors 
beyond the immediate entrance area more than 30 minutes before the 
hearing starts. For information about having your name placed on the 
building access list to attend the hearing, see the FOR FURTHER 
INFORMATION CONTACT section of this document.

Cynthia Grigsby,
Acting Chief, Publications and Regulations Branch, Legal Processing 
Division, Associate Chief Counsel (Procedure and Administration).
[FR Doc. E8-24653 Filed 10-16-08; 8:45 am]
BILLING CODE 4830-01-P

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