Regulation 106564-98 - Modifications and Additions to the Unified Partnership Audit Procedures
3
pages
English
Documents
Le téléchargement nécessite un accès à la bibliothèque YouScribe Tout savoir sur nos offres
3
pages
English
Documents
Le téléchargement nécessite un accès à la bibliothèque YouScribe Tout savoir sur nos offres
TACT: Concerning the proposed and adopted as final regulations, consider a-Notice of P roposed Rulemakingtemporary regulations, Robert G. Honi g- tion will be given to any elecronic andand Notice of Public Hearingman, (202) 622-3050; concerning sub- written comments (a signed original andModifications and Additions to missions of comments, the hearing, eight (8) copies) that are submitted timelythe Unified Pa rtnership Audit and/or to be placed on the building access to the Service. All comments will belist to attend the hearing Michael L. available for public inspection and copy-ProceduresSlaughter, Jr., (202) 622-7180 (not toll- ing. The Service and Treasury Depart-REG–106564–98 free numbers). ment specifically request comments onthe clarity of the proposed regulations andAGENCY: Internal Revenue Service, SUPPLEMENTARYINFORMATION: how they may be made easier to under-Treasur y.stand.Backg roundApublic hearing has been scheduledACTION: Notice of proposed rulemak-for April 14, 1999, at 10 a.m. in roomTemporary and final regulations in T.D.ing, notice of proposed rulemaking by2615, Internal Revenue Building, 11118808 amend the Procedure an d Adminis-cross-reference to temporary regulations,Constitution Avenue, NW, Washington,tration Regulations (26 CFR part 301) re-and notice of public hearing.DC. Due to building security procedures,lating to the unified partnership audit pro-visitors must enter at the 10th Street en-cedures found in sections 6221 ...
Voir
Publié par
Langue
English
TACT: Concerningthe proposed andadopted as final regulations, consider a-Notice of Proposed Rulemaking temporary regulations, Robert G. Honig- tionwill be given to any elecronic and and Notice of Public Hearing man, (202) 622-3050; concerning sub- writtencomments (a signed original and Modifications and Additions tomissions of comments, the hearing,eight (8) copies) that are submitted timely the Unified Partnership Auditand/or to be placed on the building accessto the Service.All comments will be list to attend the hearing Michael L.available for public inspection and copy-Procedures Slaughter, Jr., (202) 622-7180 (not toll-ing. TheService and Treasury Depart-REG–106564–98free numbers).ment specifically request comments on the clarity of the proposed regulations and AGENCY: InternalRevenue Service, SUPPLEMENTARYINFORMATION: how they may be made easier to under-Treasur y. stand. Backg round A publichearing has been scheduled ACTION: Notice of proposed rulemak-for April 14, 1999, at 10 a.m. in room Temporary and final regulations i n T.D. ing, notice of proposed rulemaking by 2615, Internal Revenue Building, 1111 8808 amend the Procedure and Adminis-cross-reference to temporary regulations, Constitution Avenue, NW, Washington, tration Regulations (26 CFR part 301) re-and notice of public hearing. DC. Dueto building security procedures, lating to the unified partnership audit pro-visitors must enter at the 10th Street en-SUMMARY: In T.D. 8808 on page 21,cedures found in sections 6221 through trance, located between Constitution and the Internal Revenue Service (Service) is6233 of the Internal Revenue Code Pennsylvania Avenues, NW.In addition, issuing temporary regulations relating to(Code). all visitors must present photo identifica-the unified partnership audit proceduresThe text of those temporary regulations tion to enter the building.Because of ac-added to the Internal Revenue Code byalso generally serves as the text of these cess restrictions, visitors will not be ad-the Tax Equity and Fiscal Responsibilityproposed regulations. Thepreamble to mitted beyond the immediate entrance Actof1982(TEFRA).Thetextofthosethetemporaryregulationsexplainsthe area more than 15 minutes before the temporary regulations also generallytemporary and proposed regulations. hearing starts.For information about serves as the text of these proposed regu-Temporary regulations previously were having your name placed on the building lations. Thisdocument also provides apublished on December 13, 1984 (49 F.R. access list to attend the hearing, see the notice of public hearing on these pro-48536), and March 5, 1987 (52F.R. “FOR FURTHER INFORMATION posed regulations.6779) (the existing regulations).The Ser-CONTACT” section of this preamble. vice intends to finalize such regulations The rules of 26 CFR 601.601(a)(3) DATES: Writtenand electronic com-simultaneously with finalizing these reg-apply to the hearing. ments must be received byApril 26, 1999.ulations. Commentspreviously received Persons who wish to present oral com-Outlines of topics to be discussed at thein connection with the existing regula-ments at the hearing must submit elec-public hearing scheduled for April 14,tions will be considered as well as new or tronic or written comments byApril 26, 1999, at 10 a.m. must be received byadditional comments with respect to such 1999, andan outline of the topics to be March 24, 1999.regulations. discussed and the time devoted to each Special Analyses ADDRESSES: Send submissions to:topic (a signed original and eight (8) CC:DOM:CORP:R (REG–106564–98),copies) by March 24, 1999. It has been determined that this notice room 5226, Internal Revenue Service,A periodof 10 minutes will be allotted of proposed rulemaking is not a signifi-POB 7604, Ben Franklin Station, Wash-to each person for making comments. cant regulatory action as defined in EO ington, DC 20044.Submissions may beAn agenda showing the scheduling of 12866. It also has been determined that hand delivered Monday through Fridaythe speakers will be prepared after the section 533(b) of the Administrative Pro-between the hours of 8 a.m. and 5 p.m. to:deadline for receiving outlines has cedures Act (5 U.S.C. chapter 5) does not CC:DOM:CORP:R (REG–106564–98),passed. Copiesof the agenda will be apply to these regulations, and because available free of charge at the hearing. Courier ’sdesk, Internal Revenue Service, these regulations do not impose a collec-1111 Constitution Avenue, NW, Washing-tion of information on small entities, theDrafting Information ton, DC.Alternatively, taxpayers may Regulatory FlexibilityAct (5 U.S.C. submit comments electronically via the The principal authors of these proposed chapter 6) does not apply. Pursuantto Internet by selecting the “Tax Regs” op-regulations are Robert G. Honigman, Of-section 7805(f) of the Internal Revenue tion on the IRS Home Page, or by submit-fice of the Assistant Chief Counsel Code, this notice of proposed rulemaking ting comments directly to the IRS Internet (Passthroughs & Special Industries), and will be submitted to the Chief Counsel for site at http://www.irs.ustreas.gov/prod/ William A.Heard, Office of the Assistant Advocacy of the Small BusinesAdmin-tax_regs/comments.html. Thepublic Chief Counsel (Field Service).However, istration for comment on its impact on hearing will be held in Room 2615, Inter-other personnel from the Service and small business. nal Revenue Building,1111 Constitution Treasury Department participated in their Avenue, NW, Washington, DC. Comments and Public Hearingdevelopment. FOR FURTHER INFORMATION CON-Before these proposed regulations are* * * * * 1999–10 I.R.B.March 8, 1999
Proposed Amendments to the Regulations(b) [The text of proposed paragraph (b)§301.6231(a)(6)–1 Computational is the same as the text of §301.6224(c)–adjustments. Accordingly, 26 CFR part 301 is pro-3T(b) published in T.D. 8808.] posed to be amended as follows:(a) [The text of proposed paragraph (a) (c) * * * is the same as the text of §301.6231(a)(6)– (3) * * * PART 301—PROCEDURE AND 1T(a) published in T.D. 8808.] (ii) [The text of proposed paragraph ADMINISTRATION * * * * * (c)(3)(ii) is the same as the text of Paragraph 1 .The authority citation forPa r.9. Section 301.6231(a)(7)–1 is §301.6224(c)–3T(c)(3)(ii) published in part 301 continues to read in part asamended by revising paragraphs (p)(2), T.D. 8808.] follows: (r)(1)and (s) to read as follows: (d) * * * Authority: 26U.S.C. 7805 * * * Example (1) .[The text of proposed §301.6231(a)(7)–1 Designation or Pa r.2. Section 301.6221–1 as proposed paragraph (d )Example (1) .is the same as selection of tax matters partner. to be added at 51F.R. 13235,April 18, the text of §301.6224(c)–3T(d)Example 1986, is amended by: (1).published in T.D. 8808.]* * * * * 1. Redesignatingparagraph (c) as paragraph (e);* * * * *(p) * * * 2. Addingparagraphs (c) and (d).(2)When each general partner is Pa r.5. Section301-6229(b)–2 is added The additions read as follows:deemed to have no profits interest in the to read as follow: partnership .If it is impracticable under §301.6221–1 Tax treatment determined at paragraph (o)(2) of this section to apply §301.6229(b)–2 Special rule withrespect partnership level. the largest-profits-interest rule of para-to debtors inTitle 11 cases. graph (m)(2) of this section, the Commis-* * * * * [The text of this proposed section is the sioner will select a partner (including a (c) and (d) [The text of proposed para-same as the text of §301.6229(b)–2T pub-general or limited partner) as the tax ma t-graphs (c) and (d) are the same as the textlished in T.D. 8808.] ters partner in accordance with the crit e-of §301.6221–1T(c) and (d) published inPa r.6. Section301.6229(f)–1 is added ria set forth in paragraph (q) of this se c-T.D. 8808.]to read as follows: tion. TheCommissioner will notify, [The text of this proposed section is the within 30 days of the selection, the part-* * * * * same as the text of §301.6229(f)–1T pub-ner selected, the partnership, and all part-lished in T.D. 8808.] Pa r.3. Section301.6223(c)–1 as pro-ners required to receive notice under se c-Pa r.7. Section301.6231(a)(1)–1 as posed to be added at 51F.R. 13238,April tion6223(a), effective as of the date proposed to be added at 51F.R. 13243, 18, 1986,is amended by adding a sen-specified in the notice. April 18, 1986,is amended by: tence at the end of paragraph (c) to read as * * * * * 1. Revisingthe first two sentences of follows: paragraph (a)(1); (r) ** * (1).In generalIf the Com-§301.6223(c)–1 Additional information 2. Removingparagraph (a)(3); missioner selects a tax matters partner regarding partners furnished to the 3. Redesignatingparagraph (a)(4) as under the provisions of paragraph (p)(1) Service. paragraph (a)(3). or (3)(i) of this section, the Commissioner The revision reads as follows: * * * * *will notify, within 30 days of the selec-tion, the partner selected, the partnership, §301.6231(a)(1)–1 Exception for small (c) * * * [The text of the proposed last and all partners required to receive notice partnerships. sentence in paragraph (c) is the same as under section 6223(a), effective as of the the text of the last sentence in (a) * * *date specified in the notice. §301.6223(c)–1T(c) published in T.D. (1) [The text of the proposed first two 8808.] ** * * * sentences of paragraph (a)(1) is the same as the text of the first two sentences of * * * * *(s)Effective date.This section applies §301.6231(a)(1)–1T(a)(1) published in to all designations, selections, and termi-Pa r.4. Section301.6224(c)–3 as pro-T.D. 8808]. * * * nations of a tax matters partner occurring posed to be added at 51F.R. 13241, April on or after December 23, 1996, except for * * * * * 18, 1986,is amended by revising the sec-paragraphs (p)(2) and (r)(1), that are ap-tion heading and paragraphs (b), (c)(3)(ii) Pa r.8. Section301.6231(a)(6)–1 as plicable on the date they are published as and (d),Example (1 )to read as follows: proposed to be added at 51F.R. 13245, final regulations in the Federal Registe r. April 18, 1986,is amended by: §301.6224(c)–3 Consistent settlement 1. Revisingparagraph (a);Robert E. Wenzel, terms. 2. Removingparagraph (c).Deputy Commissioner of * * * * *The revision reads as follows:Internal Revenue Service.
March 8, 1999
1999–10I.R.B.
(Filed by the Office of the Federal Register on Janu-ary 25, 1999, 8:45 a.m., and published in the issue of the Federal Register for January 26, 1999, 64 F.R. 3886)
