Start Preamble
AGENCY:
Internal Revenue Service (IRS), Treasury.
ACTION:
Partial withdrawal of notice of proposed rulemaking.
SUMMARY:
This document withdraws portions of a notice of proposed rulemaking (REG-135734-14) published on April 8, 2016, in the Federal Register (81 FR 20588). The withdrawn portions relate to exceptions to general rules addressing certain transactions that are structured to avoid the purposes of section 7874 of the Internal Revenue Code (Code).
DATES:
Portions of the proposed rules published on April 8, 2016, in the Federal Register (81 FR 20588) are withdrawn as of January 18, 2017.
Start Further Info
FOR FURTHER INFORMATION CONTACT:
Joshua G. Rabon, (202) 317-6937.
End Further Info
End Preamble
Start Supplemental Information
SUPPLEMENTARY INFORMATION:
Background
On April 8, 2016, the Department of the Treasury (Treasury Department) and the IRS published in the Federal Register (81 FR 20588) proposed regulations (REG-135734-14), including in §§ 1.7874-7 and 1.7874-10, that address certain transactions that are structured to avoid the purposes of section 7874 of the Code. The regulations were proposed by cross-reference to temporary regulations (TD 9761) in the same issue of the Federal Register (81 FR 20858). In the Rules and Regulations section of this issue of the Federal Register, the Treasury Department and the IRS are amending certain aspects of the temporary regulations in §§ 1.7874-7T and 1.7874-10T. Accordingly, the Treasury Department and the IRS are issuing a notice of proposed rulemaking in the Proposed Rules section of this issue of the Federal Register that proposes rules in §§ 1.7874-7 and 1.7874-10 by cross-reference to the amended temporary regulations. This document withdraws the previously proposed regulations that are replaced by the notice of proposed rulemaking in the Proposed Rules section of this issue of the Federal Register.
Start List of Subjects
- Income taxes
- Reporting and recordkeeping requirements
End List of Subjects
Partial Withdrawal of a Notice of Proposed Rulemaking
Accordingly, under the authority of 26 U.S.C. 7805, §§ 1.7874-7(c)(2) and (h) and 1.7874-10(d)(2) and (i) of the notice of proposed rulemaking (REG-135734-14) published in the Federal Register on April 8, 2016 (81 FR 20588) are withdrawn.
Start Signature
John Dalrymple,
Deputy Commissioner for Services and Enforcement.
End Signature
End Supplemental Information
[FR Doc. 2017-00636 Filed 1-13-17; 4:15 pm]
BILLING CODE 4830-01-P