[Federal Register Volume 76, Number 55 (Tuesday, March 22, 2011)]
[Proposed Rules]
[Page 15887]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-6601]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-149335-08]
RIN 1545-BI57


Sales-Based Royalties and Vendor Allowances; 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 capitalization and allocation of 
royalties that are incurred only upon the sale of property produced or 
property acquired for resale (sales-based royalties) and adjusting the 
cost of merchandise inventory for an allowance, discount, or price 
rebated based on merchandise sales (sales-based vendor allowances). The 
regulations modify the simplified production method and the simplified 
resale method of allocating capitalized costs between ending inventory 
and cost of goods sold. The regulations affect taxpayers that incur 
capitalizable sales-based royalties and earn sales-based vendor 
allowances.

DATES: The public hearing is being held on Wednesday, April 13, 2011, 
at 10 a.m. The IRS must receive outlines of the topics to be discussed 
at the hearing by Monday, March 28, 2011.

ADDRESSES: The public hearing is being held in the auditorium, Internal 
Revenue Building, 1111 Constitution Avenue, NW., Washington, DC. Send 
submissions to: CC: PA: LPD: PR (REG-149335-08), 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-149335-08), 
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 http://www.regulations.gov.

FOR FURTHER INFORMATION CONTACT: Concerning the proposed regulations, 
John Roman Faron at (202) 622-4930; concerning submissions of comments, 
the hearing, and/or to be placed on the building access list to attend 
the hearing, Richard A. Hurst at <a href="/cdn-cgi/l/email-protection#40122923282132246e016e083532333400293233232f352e33252c6e34322521336e272f36"><span class="__cf_email__" data-cfemail="e2b08b818a839086cca3ccaa97909196a28b9091818d978c91878ecc9690878391cc858d94">[email protected]</span></a> 
or (202) 622-7180 (not toll-free numbers).

SUPPLEMENTARY INFORMATION: The subject of the public hearing is the 
notice of proposed rulemaking (REG-149335-08) that was published in the 
Federal Register on Friday, December 17, 2010 (75 FR 78940).
    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 Monday, March 28, 2011.
    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.

LaNita Van Dyke,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel (Procedure and Administration).
[FR Doc. 2011-6601 Filed 3-21-11; 8:45 am]
BILLING CODE 4830-01-P


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