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###### Department of the Treasury

###### Internal Revenue Service

          - 26 CFR Part 1
          - [REG-149335-08]
          - RIN 1545-BI57

# AGENCY:

Internal Revenue Service (IRS), Treasury.

# ACTION:

Notice of public hearing on proposed rulemaking.

# 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                         *Richard.A.Hurst@irscounsel.treas.gov*                         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