Federal Register / Vol. 61, No. 3 / Thursday, January 4, 1996 / Proposed Rules 337

[FR Doc. 96–29 Filed 1–3–96; 8:45 am]

BILLING CODE 4160–01–C
338 Federal Register / Vol. 61, No. 3 / Thursday, January 4, 1996 / Proposed Rules

DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[IL–0075–92]

RIN 1545–AR31

Definition of Foreign Base Company

Income and Foreign Personal Holding

Company Income of a Controlled

Foreign Corporation; Hearing

Cancellation

AGENCY: Internal Revenue Service,

Treasury.

ACTION: Cancellation of notice of public

hearing on proposed regulations.

SUMMARY: This document provides

notice of cancellation of a public

hearing on proposed regulations relating

to the definition of subpart F income

and foreign personal holding company

income of a controlled foreign

corporation and the allocation of

deficits for purposes of computing the

deemed-paid foreign tax credit.

DATES: The public hearing originally

scheduled for Thursday, January 4,

1996, beginning at 10 a.m. is cancelled.

FOR FURTHER INFORMATION CONTACT:

Mike Slaughter of the Regulations Unit,

Assistant Chief Counsel (Corporate),

(202) 622–7190, (not a toll-free number).

SUPPLEMENTARY INFORMATION: The

subject of the public hearing is proposed

regulations under sections 952, 954(c)

and 960 of the Internal Revenue Code.

A notice of proposed rulemaking and

notice of public hearing appearing in

the Federal Register for Thursday,

September 7, 1995 (60 FR 46548),

announced that the public hearing on

proposed regulations under sections

952, 954(c) and 960 of the Internal

Revenue Code would be held on

Thursday, January 4, 1996, beginning at

10 a.m., in the IRS Auditorium, Internal

Revenue Building, 1111 Constitution

Avenue, NW., Washington, D.C.

The public hearing scheduled for

Thursday, January 4, 1996, is cancelled.

Cynthia E. Grigsby,

Chief, Regulations Unit, Assistant Chief

Counsel (Corporate).

[FR Doc. 95–31581 Filed 12–29–95; 11:24

am]

BILLING CODE 4830–01–M

26 CFR Parts 1 and 301

[IA–41–93]

RIN 1545–AS04

Automatic Extension of Time for Filing

Individual Income Tax Returns

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 temporary

regulations that reflect the new

procedures for obtaining an automatic

extension of time to file an individual

income tax return. The text of the

temporary regulations also serves as the

comment document for this notice of

proposed rulemaking. This document

also provides notice of a public hearing

on these proposed regulations.

DATES: Written comments must be

received by April 1, 1996. Outlines of

topics to be discussed at the public

hearing scheduled for May 8, 1996,

beginning at 10:00 a.m. must be

received by April 1, 1996.

ADDRESSES: Send submissions to:

CC:DOM:CORP:R (IA–41–93), room

5228, Internal Revenue Service, POB

7604, Ben Franklin Station, Washington,

DC 20044. In the alternative,

submissions may be hand delivered

between the hours of 8 a.m. and 5 p.m.

to: CC:DOM:CORP:R (IA–41–93),

Courier’s Desk, Internal Revenue

Service, 1111 Constitution Avenue,

NW., Washington, DC. The public

hearing will be held in the IRS

Auditorium.

FOR FURTHER INFORMATION CONTACT:

Concerning the regulations, Margaret A.

Owens, 202–622–6232 (not a toll-free

number). Concerning submissions and

the public hearing, Michael Slaughter,

202–622–7190 (not a toll-free number).

SUPPLEMENTARY INFORMATION:

Paperwork Reduction Act

The collection of information

contained in this notice of proposed

rulemaking has been submitted to the

Office of Management and Budget for

review in accordance with the

Paperwork Reduction Act of 1995 (44

U.S.C. 3507).

Comments on the collection of

information should be sent to the Office

of Management and Budget, Attn: Desk

Officer for the Department of the

Treasury, Office of Information and

Regulatory Affairs, Washington, DC

20503, with copies to the Internal

Revenue Service, Attn: IRS Reports

Clearance Officer, T:FP, Washington, DC

20224. Comments on the collection of

information should be received by

March 4, 1996.

An agency may not conduct or

sponsor, and a person is not required to

respond to, a collection of information

unless the collection of information

displays a valid control number.

The collection of information is in

§ 1.6081–4T(a). This information is

required by the IRS to monitor the filing

of individual income tax returns. This

information will be used to determine

which individuals need automatic 4-

month extensions of time to file. The

likely respondents are individuals or

households. Responses to this collection

of information are required to obtain a

benefit (an automatic 4-month extension

of time to file an individual income tax

return).

Books or records relating to a

collection of information must be

retained as long as their contents may

become material in the administration

of any internal revenue law. Generally,

tax returns and tax return information

are confidential, as required by 26

U.S.C. 6103.

Estimates of the reporting burden in

this Notice of Proposed Rulemaking will

be reflected in the burden of Form 4868.

Background

The temporary regulations published

in the Rules and Regulations section of

this issue of the Federal Register

contain amendments to the Income Tax

Regulations (26 CFR part 1) and the

Regulations on Procedure and

Administration (26 CFR part 301). The

temporary regulations provide rules

relating to obtaining an automatic 4-

month extension of time to file an

individual income tax return. The text

of the temporary regulations also serves

as the text of these proposed

regulations. The preamble to the

temporary regulations explains these

proposed regulations.

Special Analyses

It has been determined that this notice

of proposed rulemaking is not a

significant regulatory action as defined

in EO 12866. Therefore, a regulatory

assessment is not required. It also has

been determined that section 553(b) of

the Administrative Procedure Act (5

U.S.C. chapter 5) and the Regulatory

Flexibility Act (5 U.S.C. chapter 6) do

not apply to these rules, and therefore,

a Regulatory Flexibility Analysis is not

required. Pursuant to section 7805(f) of

the Internal Revenue Code, a copy of

this notice of proposed rulemaking will

be submitted to the Chief Counsel for