Withholding of Tax and Information Reporting With Respect to Interests in Partnerships Engaged in the Conduct of a U.S. Trade or Business; Hearing Cancellation, 44262-44263 [2019-18308]
Download as PDF
<![CDATA[
44262
Federal Register / Vol. 84, No. 164 / Friday, August 23, 2019 / Proposed Rules
PART 1—INCOME TAXES
Paragraph 1. The authority citation
for part 1 continues to read in part as
follows:
■
Authority: 26 U.S.C. 7805 * * *
Par. 2. Section 1.61–21 is amended by
revising paragraph (d)(5)(v)(D), adding
paragraphs (d)(5)(v)(G) and (H), revising
paragraph (e)(1)(iii)(A), revising
paragraph (e)(5)(i), and adding
paragraphs (e)(5)(vi) and (e)(6), to read
as follows:
■
§ 1.61–21
Taxation of fringe benefits.
jbell on DSK3GLQ082PROD with PROPOSALS
*
*
*
*
*
(d) * * *
(5) * * *
(v) * * *
(D) Limitations on use of fleet-average
rule. The rule provided in this
paragraph (d)(5)(v) may not be used for
any automobile the fair market value of
which (determined pursuant to
paragraphs (d)(5)(i) through (iv) of this
section as of the first date on which the
automobile is made available to any
employee of the employer for personal
use) exceeds $50,000, as adjusted by
section 280F(d)(7). The first such
adjustment shall be for calendar year
2019. In addition, the rule provided in
this paragraph (d)(5)(v) may only be
used for automobiles that the employer
reasonably expects will regularly be
used in the employer’s trade or
business. For rules concerning when an
automobile is regularly used in the
employer’s business, see paragraph
(e)(1)(iv) of this section.
*
*
*
*
*
(G) Transition rule for 2018 and 2019.
Notwithstanding paragraph (d)(5)(v)(B)
of this section, an employer that did not
qualify to use the fleet-average valuation
rule prior to January 1, 2018 with
respect to any automobile (including a
truck or van) because the fair market
value of the vehicle exceeded the
inflation-adjusted maximum value
requirement of paragraph (d)(5)(v)(D) of
this section, as published by the Service
in a notice or revenue procedure
applicable to the year the vehicle was
first made available to any employee of
the employer, may adopt the fleetaverage valuation rule for 2018 or 2019
with respect to the vehicle, provided the
fair market value of the vehicle does not
exceed $50,000 on January 1, 2018, or
$50,400 on January 1, 2019,
respectively.
(H) Applicability date. Paragraphs
(d)(5)(v)(D), and (G) of this section apply
to taxable years beginning on or after
[INSERT DATE OF PUBLICATION OF
THE FINAL RULE IN THE Federal
Register]. Notwithstanding the first
VerDate Sep<11>2014
16:14 Aug 22, 2019
Jkt 247001
sentence of this paragraph (d)(5)(v)(H),
any taxpayer may choose to apply
paragraph (d)(5)(v)(G) of this section
beginning on or after January 1, 2018.
*
*
*
*
*
(e) * * *
(1) * * *
(iii) * * *
(A) In general. The value of the use of
an automobile (as defined in paragraph
(d)(1)(ii) of this section) may not be
determined under the vehicle cents-permile valuation rule of this paragraph (e)
for a calendar year if the fair market
value of the automobile (determined
pursuant to paragraphs (d)(5)(i) through
(iv) of this section as of the first date on
which the automobile is made available
to any employee of the employer for
personal use) exceeds $50,000, as
adjusted by section 280F(d)(7). The first
such adjustment shall be for calendar
year 2019.
*
*
*
*
*
(5) * * *
(i) Use of the vehicle cents-per-mile
valuation rule by an employer. An
employer must adopt the vehicle centsper-mile valuation rule of this paragraph
(e) for a vehicle to take effect by the first
day on which the vehicle is used by an
employee of the employer for personal
use (or, if the commuting valuation rule
of paragraph (f) of this section is used
when the vehicle is first used by an
employee of the employer for personal
use, the first day on which the
commuting valuation rule is not used).
*
*
*
*
*
(vi) Transition rule for 2018 and 2019.
For a vehicle first made available to any
employee of the employer for personal
use before calendar year 2018, if an
employer did not qualify under this
paragraph (e)(5) to adopt the vehicle
cents-per-mile valuation rule on the first
day on which the vehicle is used by the
employee for personal use because the
fair market value of the vehicle
exceeded the inflation-adjusted
limitation of paragraph (e)(1)(iii), as
published by the Service in a notice or
revenue procedure applicable to the
year the vehicle was first used by the
employee for personal use, may first
adopt the vehicle cents-per-mile
valuation rule for the 2018 or 2019
taxable year, provided the fair market
value of the vehicle does not exceed
$50,000 on January 1, 2018, or $50,400
on January 1, 2019, respectively.
Similarly, for a vehicle first made
available to any employee of the
employer for personal use before
calendar year 2018, if the commuting
valuation rule of paragraph (f) of this
section was used when the vehicle was
first used by the employee for personal
PO 00000
Frm 00005
Fmt 4702
Sfmt 4702
use, and the employer did not qualify to
switch to the vehicle cents-per-mile
valuation rule of this paragraph (e) on
the first day on which the commuting
valuation rule of paragraph (f) of this
section was not used because the
vehicle had a fair market value in excess
of the inflation-adjusted limitation of
paragraph (e)(1)(iii) of this section, as
published by the Service in a notice or
revenue procedure applicable to the
year the commuting valuation rule was
first not used, the employer may adopt
the vehicle cents-per-mile valuation rule
for the 2018 or 2019 taxable year,
provided the fair market value of the
vehicle does not exceed $50,000 on
January 1, 2018, or $50,400 on January
1, 2019, respectively. However, in
accordance with paragraph (e)(5)(ii) of
this section, an employer that adopts the
vehicle cents-per-mile valuation rule
pursuant to this paragraph (e)(5)(vi)
must continue to use the rule for all
subsequent years in which the vehicle
qualifies for use of the rule, except that
the employer may, for any year during
which use of the vehicle qualifies for
the commuting valuation rule of
paragraph (f) of this section, use the
commuting valuation rule with regard to
the vehicle.
(6) Applicability date. Paragraphs
(e)(1)(iii)(A) and (e)(5)(i), and (vi) of this
section apply to taxable years beginning
on or after [INSERT DATE OF
PUBLICATION OF THE FINAL RULE
IN THE Federal Register].
Notwithstanding the first sentence of
this paragraph (e)(6), any taxpayer may
choose to apply paragraph (e)(5)(vi) of
this section beginning on or after
January 1, 2018.
*
*
*
*
*
Kirsten Wielobob,
Deputy Commissioner for Services and
Enforcement.
[FR Doc. 2019–18044 Filed 8–22–19; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[REG–105476–18]
RIN 1545–BO60
Withholding of Tax and Information
Reporting With Respect to Interests in
Partnerships Engaged in the Conduct
of a U.S. Trade or Business; Hearing
Cancellation
Internal Revenue Service (IRS),
Treasury.
AGENCY:
E:\FR\FM\23AUP1.SGM
23AUP1
Federal Register / Vol. 84, No. 164 / Friday, August 23, 2019 / Proposed Rules
ACTION:
Cancellation of notice of public
hearing on proposed rulemaking.
DEPARTMENT OF HOMELAND
SECURITY
This document cancels a
public hearing on proposed regulations
to implement certain sections of the
Internal Revenue Code, including
sections added to the Internal Revenue
Code by the Tax Cuts and Jobs Act, that
relate to the withholding of tax and
information reporting with respect to
certain dispositions of interests in
partnerships engaged in the conduct of
a trade or business within the United
States.
Coast Guard
SUMMARY:
The public hearing, originally
scheduled for August 26, 2019 at 10:00
a.m. is cancelled.
DATES:
FOR FURTHER INFORMATION CONTACT:
Regina Johnson, Publications and
Regulations Specialist at (202) 317-6901
(not a toll-free number).
The cancelled hearing was
originally scheduled to be held at the
Internal Revenue Service Building, 1111
Constitution Avenue NW, Washington,
DC 20224.
ADDRESSES:
A notice
of proposed rulemaking and notice of
public hearing that appeared in the
Federal Register on Wednesday, July
24, 2019 (84 FR 35581) announced that
a public hearing was scheduled August
26, 2019 at 10:00 a.m. in the IRS
Auditorium, Internal Revenue Service
Building, 1111 Constitution Avenue
NW, Washington, DC. The subject of the
public hearing is under section 1446 of
the Internal Revenue Code.
The public comment period for these
regulations expired on August 8, 2019.
The notice of proposed rulemaking and
notice of hearing instructed those
interested in testifying at the public
hearing to submit an outline of the
topics to be discussed. The outline of
topics to be discussed was due by
August 8, 2019. As of August 8, 2019,
no one has requested to speak.
Therefore, the public hearing scheduled
for August 26, 2019 at 10:00 a.m. is
cancelled.
jbell on DSK3GLQ082PROD with PROPOSALS
SUPPLEMENTARY INFORMATION:
Martin V. Franks,
Branch Chief, Publications and Regulations
Branch, Legal Processing Division, Associate
Chief Counsel.
[FR Doc. 2019–18308 Filed 8–21–19; 4:15 pm]
BILLING CODE 4830–01–P
VerDate Sep<11>2014
16:14 Aug 22, 2019
33 CFR Part 100
[Docket Number USCG–2019–0634]
RIN 1625–AA08
Special Local Regulation; North
Atlantic Ocean, Ocean City, MD
Coast Guard, DHS.
Notice of proposed rulemaking.
AGENCY:
ACTION:
The Coast Guard is proposing
to establish special local regulations for
certain waters of the North Atlantic
Ocean. This action is necessary to
provide for the safety of life on these
navigable waters located at Ocean City,
MD, during a high-speed power boat
racing event on September 29, 2019.
This proposed rulemaking would
prohibit persons and vessels from being
in the regulated area unless authorized
by the Captain of the Port MarylandNational Capital Region or Coast Guard
Patrol Commander. We invite your
comments on this proposed rulemaking.
DATES: Comments and related material
must be received by the Coast Guard on
or before September 9, 2019.
ADDRESSES: You may submit comments
identified by docket number USCG–
2019–0634 using the Federal
eRulemaking Portal at https://
www.regulations.gov. See the ‘‘Public
Participation and Request for
Comments’’ portion of the
SUPPLEMENTARY INFORMATION section for
further instructions on submitting
comments.
SUMMARY:
If
you have questions on this rule, call or
email Mr. Ron Houck, U.S. Coast Guard
Sector Maryland-National Capital
Region; telephone 410–576–2674, email
Ronald.L.Houck@uscg.mil.
SUPPLEMENTARY INFORMATION:
FOR FURTHER INFORMATION CONTACT:
I. Table of Abbreviations
CFR Code of Federal Regulations
COTP Captain of the Port
DHS Department of Homeland Security
FR Federal Register
NPRM Notice of proposed rulemaking
PATCOM Coast Guard Patrol Commander
§ Section
U.S.C. United States Code
II. Background, Purpose, and Legal
Basis
OPA Racing LLC of Brick Township,
NJ, notified the Coast Guard through
submission of a marine event
application that this year’s Ocean City
Grand Prix would be held on a different
Jkt 247001
PO 00000
Frm 00006
Fmt 4702
Sfmt 4702
44263
date this year from the date published
in the Code of Federal Regulations
(CFR) at Table to 33 CFR 100.501 at
(b.)19. The estimated date for this
annual event listed in the regulation is
either the first or second Saturday or
Sunday of May, or the second or third
Saturday and Sunday of September.
This year, the Ocean City Grand Prix is
being held on September 29, 2019, or
the fourth Sunday of September. The
high-speed power boat racing consists of
approximately 35 participating offshore
race boats of various classes, 21 to 50
feet in length, operating along a
designated, marked racetrack-type
course located in the North Atlantic
Ocean, at Ocean City, MD. Hazards from
the power boat racing event include
participants operating near a designated
navigation channel, as well as injury to
persons and damage to property that
involve vessel mishaps during highspeed power boat races conducted on
navigable waters located near the
shoreline. The Captain of the Port
(COTP) Maryland-National Capital
Region has determined that potential
hazards associated with the power boat
races would be a safety concern for
anyone intending to participate in this
event or for vessels that operate within
specified waters of the North Atlantic
Ocean at Ocean City, MD.
The purpose of this rulemaking is to
protect event participants, spectators
and transiting vessels on certain waters
of the North Atlantic Ocean at Ocean
City, MD before, during, and after the
scheduled event. The Coast Guard
proposes this rulemaking under
authority in 46 U.S.C. 70041, which
authorizes the Coast Guard to establish
and define special local regulations.
III. Discussion of Proposed Rule
The COTP Maryland-National Capital
Region proposes to establish special
local regulations from 8:30 a.m. through
5:30 p.m. on September 29, 2019. There
is no alternate date planned for this
event. The regulated area would cover
all navigable waters of the North
Atlantic Ocean, within an area bounded
by the following coordinates:
commencing at a point near the
shoreline at latitude 38°21′42″ N,
longitude 075°04′11″ W, thence east to
latitude 38°21′33″ N, longitude
075°03′10″ W, thence southwest to
latitude 38°19′25″ N, longitude
075°04′02″ W, thence west to the
shoreline at latitude 38°19′35″ N,
longitude 075°05′02″ W, at Ocean City,
MD. The regulated area is
approximately 4,500 yards in length and
1,600 yards in width.
This proposed rule provides
additional information about areas
E:\FR\FM\23AUP1.SGM
23AUP1
]]>Agencies
[Federal Register Volume 84, Number 164 (Friday, August 23, 2019)]
[Proposed Rules]
[Pages 44262-44263]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-18308]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[REG-105476-18]
RIN 1545-BO60
Withholding of Tax and Information Reporting With Respect to
Interests in Partnerships Engaged in the Conduct of a U.S. Trade or
Business; Hearing Cancellation
AGENCY: Internal Revenue Service (IRS), Treasury.
[[Page 44263]]
ACTION: Cancellation of notice of public hearing on proposed
rulemaking.
-----------------------------------------------------------------------
SUMMARY: This document cancels a public hearing on proposed regulations
to implement certain sections of the Internal Revenue Code, including
sections added to the Internal Revenue Code by the Tax Cuts and Jobs
Act, that relate to the withholding of tax and information reporting
with respect to certain dispositions of interests in partnerships
engaged in the conduct of a trade or business within the United States.
DATES: The public hearing, originally scheduled for August 26, 2019 at
10:00 a.m. is cancelled.
FOR FURTHER INFORMATION CONTACT: Regina Johnson, Publications and
Regulations Specialist at (202) 317-6901 (not a toll-free number).
ADDRESSES: The cancelled hearing was originally scheduled to be held at
the Internal Revenue Service Building, 1111 Constitution Avenue NW,
Washington, DC 20224.
SUPPLEMENTARY INFORMATION: A notice of proposed rulemaking and notice
of public hearing that appeared in the Federal Register on Wednesday,
July 24, 2019 (84 FR 35581) announced that a public hearing was
scheduled August 26, 2019 at 10:00 a.m. in the IRS Auditorium, Internal
Revenue Service Building, 1111 Constitution Avenue NW, Washington, DC.
The subject of the public hearing is under section 1446 of the Internal
Revenue Code.
The public comment period for these regulations expired on August
8, 2019. The notice of proposed rulemaking and notice of hearing
instructed those interested in testifying at the public hearing to
submit an outline of the topics to be discussed. The outline of topics
to be discussed was due by August 8, 2019. As of August 8, 2019, no one
has requested to speak. Therefore, the public hearing scheduled for
August 26, 2019 at 10:00 a.m. is cancelled.
Martin V. Franks,
Branch Chief, Publications and Regulations Branch, Legal Processing
Division, Associate Chief Counsel.
[FR Doc. 2019-18308 Filed 8-21-19; 4:15 pm]
BILLING CODE 4830-01-P
