81 FR 40226 - Treatment of a Certain Interests in Corporations as Stock or Indebtedness; Hearing

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 81, Issue 119 (June 21, 2016)

This document provides a notice of public hearing on proposed regulations under section 385 of the Internal Revenue Code that would authorize the Commissioner to treat certain related-party interests in a corporation as indebtedness in part and stock in part for federal tax purposes, and establish threshold documentation requirements that must be satisfied in order for certain related-party interests in a corporation to be treated as indebtedness for federal tax purposes. The proposed regulations also would treat as stock certain related-party interests that otherwise would be treated as indebtedness for federal tax purposes.

[Federal Register Volume 81, Number 119 (Tuesday, June 21, 2016)]
[Proposed Rules]
[Page 40226]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-14734]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-108060-15]
RIN 1545-BN40


Treatment of a Certain Interests in Corporations as Stock or 
Indebtedness; Hearing

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice of a public hearing on notice of proposed rulemaking.

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SUMMARY: This document provides a notice of public hearing on proposed 
regulations under section 385 of the Internal Revenue Code that would 
authorize the Commissioner to treat certain related-party interests in 
a corporation as indebtedness in part and stock in part for federal tax 
purposes, and establish threshold documentation requirements that must 
be satisfied in order for certain related-party interests in a 
corporation to be treated as indebtedness for federal tax purposes. The 
proposed regulations also would treat as stock certain related-party 
interests that otherwise would be treated as indebtedness for federal 
tax purposes.

DATES: The public hearing is being held on Thursday, July 14, 2016, at 
10:00 a.m. Written or electronic comments and outlines of the topics to 
be discussed at the public hearing are still being accepted and must be 
received by July 7, 2016.

ADDRESSES: The public hearing is being held in the IRS Auditorium, 
Internal Revenue Service Building, 1111 Constitution Avenue NW., 
Washington, DC 20224. Due to building security procedures, visitors 
must enter at the Constitution Avenue entrance. In addition, all 
visitors must present photo identification to enter the building.
    Send Submissions to CC:PA:LPD:PR (REG-108060-15), Room 5205, 
Internal Revenue Service, P.O. Box 7604, Ben Franklin Station, 
Washington, DC 20044. Submissions may be hand-delivered Monday through 
Friday to CC:PA:LPD:PR (REG-108060-15), Couriers Desk, Internal Revenue 
Service, 1111 Constitution Avenue NW., Washington, DC 20224 or sent 
electronically via the Federal eRulemaking Portal at 
www.regulations.gov (IRS REG-108060-15).

FOR FURTHER INFORMATION CONTACT: Concerning the proposed regulations, 
Austin M. Diamond-Jones at (202) 317-5363, and Raymond J. Stahl at 
(202) 317-6938; concerning submissions of comments, the hearing and/or 
to be placed on the building access list to attend the hearing Regina 
Johnson at (202) 317-6901 (not toll-free numbers).

SUPPLEMENTARY INFORMATION: The subject of the public hearing is the 
notice of proposed rulemaking (REG-108060-15) that was published in the 
Federal Register on Friday, April 8, 2016 (81 FR 20912).
    The rules of 26 CFR 601.601(a)(3) apply to the hearing. Persons who 
wish to present oral comments at the hearing must submit an outline of 
the topics to be addressed and the amount of time to be devoted to each 
topic by Thursday, July 7, 2016.
    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 by contacting the Publications and Regulations Branch at 
(202) 317-6901 (not a toll-free number).
    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.

Martin V. Franks,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel, (Procedure and Administration).
[FR Doc. 2016-14734 Filed 6-20-16; 8:45 am]
BILLING CODE 4830-01-P