Information Reporting for Discharges of Indebtedness, 66568-66569 [E8-26674]
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Federal Register / Vol. 73, No. 218 / Monday, November 10, 2008 / Proposed Rules
place at which you may make your
appearance before the administrative
law judge in person. The administrative
law judge will also find good cause for
changing the time or place of your
scheduled hearing, and we will
reschedule your hearing, if your reason
is one of the following circumstances
and is supported by the evidence:
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9. Amend § 416.1438 by revising the
first sentence of paragraph (a) to read as
follows:
§ 416.1438 Notice of a hearing before an
administrative law judge.
(a) Issuing the notice. After we set the
time and place of the hearing, we will
mail notice of the hearing to you at your
last known address, or give the notice to
you by personal service, unless you
have indicated in writing that you do
not wish to receive this notice. * * *
*
*
*
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*
10. Revise the third sentence of
§ 416.1450(b) to read as follows:
§ 416.1450 Presenting evidence at a
hearing before an administrative law judge.
*
*
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*
*
(b) * * * Even if all of the parties
waive their right to appear at a hearing,
we may notify them of a time and a
place for an oral hearing, if the
administrative law judge believes that a
personal appearance and testimony by
you or any other party is necessary to
decide the case.
*
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*
[FR Doc. E8–26681 Filed 11–7–08; 8:45 am]
BILLING CODE 4191–02–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[REG–118327–08]
RIN 1545–BH98
Information Reporting for Discharges
of Indebtedness
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice of proposed rulemaking
by cross-reference to temporary
regulations and notice of public hearing.
dwashington3 on PRODPC61 with PROPOSALS
AGENCY:
SUMMARY: In the Rules and Regulations
section of this issue of the Federal
Register, the IRS is issuing final and
temporary regulations relating to
information returns for cancellation of
indebtedness by certain entities. The
temporary regulations will avoid
premature information reporting from
VerDate Aug<31>2005
15:25 Nov 07, 2008
Jkt 217001
certain businesses that are currently
required to report and will reduce the
number of information returns required
to be filed. The regulations will impact
certain lenders who are currently
required to file information returns
under the existing regulations. The text
of those temporary regulations also
serves as text of these proposed
regulations. This document also
provides a notice of public hearing on
these proposed regulations.
DATES: Written or electronic comments
must be received by February 9, 2009.
Outlines of topics to be discussed at the
public hearing scheduled for March 13,
2009, must be received by February 13,
2009.
ADDRESSES: Send submissions to:
CC:PA:LPD:PR (REG–118327–08), room
5203, Internal Revenue Service, PO 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–118327–08),
Courier’s Desk, Internal Revenue
Service, 1111 Constitution Avenue,
NW., Washington, DC, or sent
electronically via the Federal
eRulemaking Portal at https://
www.regulations.gov (IRS REG 118327–
08). The public hearing will be held in
the IRS Auditorium, Internal Revenue
Building, 1111 Constitution Avenue,
NW., Washington, DC.
FOR FURTHER INFORMATION CONTACT:
Concerning the regulations, Barbara
Pettoni at (202) 622–4910; concerning
submission of comments, the hearing,
and/or to be placed on the building
access list to attend the hearing,
Oluwafunmilayo Taylor at (202) 622–
7180 (not toll-free numbers).
SUPPLEMENTARY INFORMATION:
Background
Temporary regulations in the Rules
and Regulations section of this issue of
the Federal Register contain
amendments to the Income Tax
Regulations (26 CFR Part 1) under
section 6050P relating to information
reporting for cancellation of
indebtedness by certain entities. The
text of those regulations also serves as
the text of these proposed regulations.
The preamble to the temporary
regulations explains the temporary
regulations and these proposed
regulations.
Special Analyses
It has been determined that this notice
of proposed rulemaking is not a
significant regulatory action as defined
in Executive Order 12866. Therefore, a
regulatory assessment is not required. It
PO 00000
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Fmt 4702
Sfmt 4702
has also been determined that section
553(b) of the Administrative Procedure
Act (5 U.S.C. chapter 5) does not apply
to these regulations. The proposed
regulations under section 6050P do not
impose a collection of information on
small entities. Therefore, the Regulatory
Flexibility Act (5 U.S.C. chapter 6) does
not apply. The proposed regulations
will reduce the number of information
returns required to be filed under
section 6050P rather than impose a
collection of information on entities.
Pursuant to section 7805(f) of the
Internal Revenue Code, these
regulations have been submitted to the
Chief Counsel for Advocacy of the Small
Business Administration for comment
on its impact on small business.
Comments and Public Hearing
Before these proposed regulations are
adopted as final regulations,
consideration will be given to any
electronic or written comments (a
signed original and eight (8) copies) that
are submitted timely to the IRS. The
Treasury Department and the IRS
request comments on the clarity of the
proposed rules and how they may be
made easier to understand. All
comments will be available for public
inspection and copying. A public
hearing has been scheduled for March
13, 2009, beginning at 10:00 a.m. in the
IRS Auditorium, Internal Revenue
Building, 1111 Constitution Avenue,
NW., Washington, DC. Due to building
security procedures, visitors must enter
at the Constitution Avenue entrance. In
addition, all visitors must present photo
identification to enter the building.
Because of access restrictions, visitors
will not be admitted beyond the
immediate entrance 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
preamble.
The rules of 26 CFR 601.601(a)(3)
apply to the hearing. Persons who wish
to present oral comments at the hearing
must submit electronic or written
comments by February 9, 2009 and an
outline of the topics to be discussed and
the time to be devoted to each topic
(signed original and eight (8) copies) by
February 13, 2009.
A period of 10 minutes will be
allotted to each person for making
comments. An agenda showing the
scheduling of the speakers will be
prepared after the deadline for receiving
outlines has passed. Copies of the
agenda will be available free of charge
at the hearing.
E:\FR\FM\10NOP1.SGM
10NOP1
Federal Register / Vol. 73, No. 218 / Monday, November 10, 2008 / Proposed Rules
Drafting Information
The principal author of these
proposed regulations is Barbara Pettoni,
Office of Associate Chief Counsel
(Procedure and Administration).
List of Subjects 26 CFR Part 1
Income tax, Reporting and
recordkeeping requirements.
Proposed Amendments to the
Regulations
Accordingly, 26 CFR part 1 is
proposed to be amended as follows:
PART 1—INCOME TAXES
Par. 1. The authority citation for part
1 continues to read in part as follows:
Authority: 26 U.S.C. 7805 * * *
1T(b)(2)(i)(H) published elsewhere in
this issue of the Federal Register].
*
*
*
*
*
(v) [The text of the proposed
amendments to § 1.6050P–1(b)(2)(v) is
the same as the text of § 1.6050P–
1T(b)(2)(v) published elsewhere in this
issue of the Federal Register].
*
*
*
*
*
(h)(1) [The text of the proposed
amendments to § 1.6050P–1(h) is the
same as the text of § 1.6050P–1T(h)
published elsewhere in this issue of the
Federal Register].
*
*
*
*
*
Linda E. Stiff,
Deputy Commissioner for Services and
Enforcement.
[FR Doc. E8–26674 Filed 11–7–08; 8:45 am]
Par. 2. Section 1.6050P–0 is amended
as follows:
1. The introductory text is revised.
2. The entries in § 1.6050P–1(b)(2)(v)
and (h)(1) are revised.
3. The entry for § 1.6050P–1T is
removed.
The revisions read as follows:
BILLING CODE 4830–01–P
§ 1.6050P–0
[SATS No. MT–029–FOR, Docket ID: OSM–
2008–0022]
Table of contents.
This section lists the major captions
that appear in § 1.6050–P–1 and
§ 1.6050P–2.
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Office of Surface Mining
Reclamation and Enforcement, Interior.
ACTION: Proposed rule; public comment
period and opportunity for public
hearing on proposed amendment.
*
*
*
*
*
*
(h) * * *
(1) [The text of the proposed entry for
§ 1.6050P–1(h)(1) is the same as the text
of § 1.6050P–1T(h)(1) in § 1.6050P–0
published elsewhere in this issue of the
Federal Register].
*
*
*
*
Par. 3. Section 1.6050P–1 is amended
by revising paragraphs (b)(2)(i)(H),
(b)(2)(v) and (h)(1) to read as follows:
dwashington3 on PRODPC61 with PROPOSALS
*
§ 1.6050P–1 Information reporting for
discharges of indebtedness by certain
entities.
*
*
*
*
(b) * * *
(2) * * *
(i) * * *
(H) [The text of the proposed
amendments to § 1.6050P–1(b)(2)(i)(H)
is the same as the text of § 1.6050P–
VerDate Aug<31>2005
15:25 Nov 07, 2008
Jkt 217001
30 CFR Part 926
AGENCY:
(b) * * *
(2) * * *
(v) [The text of the proposed entry for
§ 1.6050P–1(b)(2)(v) is the same as the text in
§ 1.6050P–1T(b)(2)(v) in § 1.6050P–0
published elsewhere in this issue of the
Federal Register]
*
Office of Surface Mining Reclamation
and Enforcement
Montana Regulatory Program
§ 1.6050P–1 Information reporting for
discharges of indebtedness by certain
entities.
*
DEPARTMENT OF THE INTERIOR
SUMMARY: We are announcing receipt of
a proposed amendment to the Montana
regulatory program (hereinafter, the
‘‘Montana program’’) under the Surface
Mining Control and Reclamation Act of
1977 (‘‘SMCRA’’ or ‘‘the Act’’). Montana
proposes additions of rules and
revisions to the Administrative Record
of Montana (ARM) concerning Normal
Husbandry Practices. Montana intends
to revise its program to improve
operational efficiency.
This document gives the times and
locations that the Montana program and
proposed amendment to that program
are available for your inspection, the
comment period during which you may
submit written comments on the
amendment, and the procedures that we
will follow for the public hearing, if one
is requested.
DATES: We will accept written
comments on this amendment until 4
p.m., mountain standard time December
10, 2008. If requested, we will hold a
public hearing on the amendment on
December 5, 2008. We will accept
requests to speak until 4 p.m., mountain
standard time, on November 25, 2008.
PO 00000
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Sfmt 4702
66569
You may submit comments,
identified by ‘‘MT–029–FOR’’, using
any of the following methods:
• Federal eRulemaking Portal: https://
www.regulations.gov. The proposed rule
has been assigned Docket ID OSM–
2008–0022. If you would like to submit
comments via the Federal eRulemaking
portal, go to https://www.regulations.gov
and do the following. Click on the
‘‘Advanced Docket Search’’ button on
the right side of the screen. Type in the
Docket ID OSM–2008–0022 and click on
the ‘‘Submit’’ button at the bottom of the
page. The next screen will display the
Docket Search Results for the
rulemaking. If you click on OSM–2008–
0022, you can view the proposed rule
and submit a comment. You can also
view supporting material and any
comments submitted by others.
• Mail, Hand Delivery/Courier: Jeff
Fleischman, Director, Casper Field
Office, Office of Surface Mining
Reclamation and Enforcement, Federal
Building, 150 East B Street, Room 1018,
Casper, WY 82601–1018, (307) 261–
6550.
• Fax: (307) 261–6552.
Instructions: All submissions received
must include the agency name and MT–
029–FOR. For detailed instructions on
submitting comments and additional
information on the rulemaking process,
see the ‘‘Public Comment Procedures’’
heading of the SUPPLEMENTARY
INFORMATION section of this document.
Docket: Access to the docket to review
copies of the Montana program, this
amendment, a listing of any scheduled
public hearings, and all written
comments received in response to this
document, may be obtained at the
addresses listed below during normal
business hours, Monday through Friday,
excluding holidays. You may receive
one free copy of the amendment by
contacting the Office of Surface Mining
Reclamation and Enforcement’s (OSM’s)
Casper Field Office. In addition, you
may review a copy of the amendment
during regular business hours at the
following locations:
Jeff Fleishman, Director, Casper Field
Office, Office of Surface Mining
Reclamation and Enforcement, Federal
Building, 150 East B Street, Room 1018,
Casper, WY 82601–1018, Telephone:
(307) 261–6550, E-mail:
jfleischman@osmre.gov.
Neil Harrington, Chief, Industrial and
Energy Minerals Bureau, Montana
Department of Environmental Quality,
P.O. Box 200901, Helena, MT 59620–
0901, Telephone: (406) 444–2544, Email: neharrington@mt.gov.
Or anytime at: https://
www.regulations.gov, Docket ID OSM–
2008–0022.
ADDRESSES:
E:\FR\FM\10NOP1.SGM
10NOP1
]]>Agencies
[Federal Register Volume 73, Number 218 (Monday, November 10, 2008)]
[Proposed Rules]
[Pages 66568-66569]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-26674]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[REG-118327-08]
RIN 1545-BH98
Information Reporting for Discharges of Indebtedness
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice of proposed rulemaking by cross-reference to temporary
regulations and notice of public hearing.
-----------------------------------------------------------------------
SUMMARY: In the Rules and Regulations section of this issue of the
Federal Register, the IRS is issuing final and temporary regulations
relating to information returns for cancellation of indebtedness by
certain entities. The temporary regulations will avoid premature
information reporting from certain businesses that are currently
required to report and will reduce the number of information returns
required to be filed. The regulations will impact certain lenders who
are currently required to file information returns under the existing
regulations. The text of those temporary regulations also serves as
text of these proposed regulations. This document also provides a
notice of public hearing on these proposed regulations.
DATES: Written or electronic comments must be received by February 9,
2009. Outlines of topics to be discussed at the public hearing
scheduled for March 13, 2009, must be received by February 13, 2009.
ADDRESSES: Send submissions to: CC:PA:LPD:PR (REG-118327-08), room
5203, Internal Revenue Service, PO 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-
118327-08), Courier's Desk, Internal Revenue Service, 1111 Constitution
Avenue, NW., Washington, DC, or sent electronically via the Federal
eRulemaking Portal at https://www.regulations.gov (IRS REG 118327-08).
The public hearing will be held in the IRS Auditorium, Internal Revenue
Building, 1111 Constitution Avenue, NW., Washington, DC.
FOR FURTHER INFORMATION CONTACT: Concerning the regulations, Barbara
Pettoni at (202) 622-4910; concerning submission of comments, the
hearing, and/or to be placed on the building access list to attend the
hearing, Oluwafunmilayo Taylor at (202) 622-7180 (not toll-free
numbers).
SUPPLEMENTARY INFORMATION:
Background
Temporary regulations in the Rules and Regulations section of this
issue of the Federal Register contain amendments to the Income Tax
Regulations (26 CFR Part 1) under section 6050P relating to information
reporting for cancellation of indebtedness by certain entities. The
text of those regulations also serves as the text of these proposed
regulations. The preamble to the temporary regulations explains the
temporary regulations and these proposed regulations.
Special Analyses
It has been determined that this notice of proposed rulemaking is
not a significant regulatory action as defined in Executive Order
12866. Therefore, a regulatory assessment is not required. It has also
been determined that section 553(b) of the Administrative Procedure Act
(5 U.S.C. chapter 5) does not apply to these regulations. The proposed
regulations under section 6050P do not impose a collection of
information on small entities. Therefore, the Regulatory Flexibility
Act (5 U.S.C. chapter 6) does not apply. The proposed regulations will
reduce the number of information returns required to be filed under
section 6050P rather than impose a collection of information on
entities. Pursuant to section 7805(f) of the Internal Revenue Code,
these regulations have been submitted to the Chief Counsel for Advocacy
of the Small Business Administration for comment on its impact on small
business.
Comments and Public Hearing
Before these proposed regulations are adopted as final regulations,
consideration will be given to any electronic or written comments (a
signed original and eight (8) copies) that are submitted timely to the
IRS. The Treasury Department and the IRS request comments on the
clarity of the proposed rules and how they may be made easier to
understand. All comments will be available for public inspection and
copying. A public hearing has been scheduled for March 13, 2009,
beginning at 10:00 a.m. in the IRS Auditorium, Internal Revenue
Building, 1111 Constitution Avenue, NW., Washington, DC. Due to
building security procedures, visitors must enter at the Constitution
Avenue entrance. In addition, all visitors must present photo
identification to enter the building. Because of access restrictions,
visitors will not be admitted beyond the immediate entrance 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 preamble.
The rules of 26 CFR 601.601(a)(3) apply to the hearing. Persons who
wish to present oral comments at the hearing must submit electronic or
written comments by February 9, 2009 and an outline of the topics to be
discussed and the time to be devoted to each topic (signed original and
eight (8) copies) by February 13, 2009.
A period of 10 minutes will be allotted to each person for making
comments. An agenda showing the scheduling of the speakers will be
prepared after the deadline for receiving outlines has passed. Copies
of the agenda will be available free of charge at the hearing.
[[Page 66569]]
Drafting Information
The principal author of these proposed regulations is Barbara
Pettoni, Office of Associate Chief Counsel (Procedure and
Administration).
List of Subjects 26 CFR Part 1
Income tax, Reporting and recordkeeping requirements.
Proposed Amendments to the Regulations
Accordingly, 26 CFR part 1 is proposed to be amended as follows:
PART 1--INCOME TAXES
Par. 1. The authority citation for part 1 continues to read in part
as follows:
Authority: 26 U.S.C. 7805 * * *
Par. 2. Section 1.6050P-0 is amended as follows:
1. The introductory text is revised.
2. The entries in Sec. 1.6050P-1(b)(2)(v) and (h)(1) are revised.
3. The entry for Sec. 1.6050P-1T is removed.
The revisions read as follows:
Sec. 1.6050P-0 Table of contents.
This section lists the major captions that appear in Sec. 1.6050-
P-1 and Sec. 1.6050P-2.
* * * * *
Sec. 1.6050P-1 Information reporting for discharges of indebtedness by
certain entities.
* * * * *
(b) * * *
(2) * * *
(v) [The text of the proposed entry for Sec. 1.6050P-1(b)(2)(v)
is the same as the text in Sec. 1.6050P-1T(b)(2)(v) in Sec.
1.6050P-0 published elsewhere in this issue of the Federal Register]
* * * * *
(h) * * *
(1) [The text of the proposed entry for Sec. 1.6050P-1(h)(1) is
the same as the text of Sec. 1.6050P-1T(h)(1) in Sec. 1.6050P-0
published elsewhere in this issue of the Federal Register].
* * * * *
Par. 3. Section 1.6050P-1 is amended by revising paragraphs
(b)(2)(i)(H), (b)(2)(v) and (h)(1) to read as follows:
Sec. 1.6050P-1 Information reporting for discharges of indebtedness
by certain entities.
* * * * *
(b) * * *
(2) * * *
(i) * * *
(H) [The text of the proposed amendments to Sec. 1.6050P-
1(b)(2)(i)(H) is the same as the text of Sec. 1.6050P-1T(b)(2)(i)(H)
published elsewhere in this issue of the Federal Register].
* * * * *
(v) [The text of the proposed amendments to Sec. 1.6050P-
1(b)(2)(v) is the same as the text of Sec. 1.6050P-1T(b)(2)(v)
published elsewhere in this issue of the Federal Register].
* * * * *
(h)(1) [The text of the proposed amendments to Sec. 1.6050P-1(h)
is the same as the text of Sec. 1.6050P-1T(h) published elsewhere in
this issue of the Federal Register].
* * * * *
Linda E. Stiff,
Deputy Commissioner for Services and Enforcement.
[FR Doc. E8-26674 Filed 11-7-08; 8:45 am]
BILLING CODE 4830-01-P
