Statutory Disallowance of Deductions for Certain Qualified Conservation Contributions Made by Partnerships and S Corporations; Hearing Cancellation
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Abstract
This document cancels a public hearing on proposed regulations concerning the statutory disallowance rule enacted by the SECURE 2.0 Act of 2022 to disallow a Federal income tax deduction for a qualified conservation contribution made by a partnership or an S corporation after December 29, 2022, if the amount of the contribution exceeds 2.5 times the sum of each partner's or S corporation shareholder's relevant basis.
Full Text
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<title>Federal Register, Volume 89 Issue 1 (Tuesday, January 2, 2024)</title>
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[Federal Register Volume 89, Number 1 (Tuesday, January 2, 2024)]
[Proposed Rules]
[Page 39]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-28793]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[REG-112916-23]
RIN 1545-BQ90
Statutory Disallowance of Deductions for Certain Qualified
Conservation Contributions Made by Partnerships and S Corporations;
Hearing Cancellation
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Cancellation of a notice of public hearing on a proposed
rulemaking.
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SUMMARY: This document cancels a public hearing on proposed regulations
concerning the statutory disallowance rule enacted by the SECURE 2.0
Act of 2022 to disallow a Federal income tax deduction for a qualified
conservation contribution made by a partnership or an S corporation
after December 29, 2022, if the amount of the contribution exceeds 2.5
times the sum of each partner's or S corporation shareholder's relevant
basis.
DATES: The public hearing scheduled for January 3, 2024, at 10 a.m. ET
is cancelled.
FOR FURTHER INFORMATION CONTACT: Vivian Hayes of the Publications and
Regulations Section, Associate Chief Counsel (Procedure and
Administration) at (202) 317-6901 (not a toll-free number).
SUPPLEMENTARY INFORMATION: A notice of proposed rulemaking and a notice
of public hearing that appeared in the Federal Register on November 20,
2023 (88 FR 80910) announced that a public hearing being held in person
and by teleconference was scheduled for January 3, 2024, at 10 a.m. ET.
The subject of the public hearing is under 26 CFR part 1.
The public comment period for these regulations expired on December
20, 2023. The notice of proposed rulemaking and notice of public
hearing instructed those interested in testifying at the public hearing
to submit a request to testify and an outline of the topics to be
addressed by December 20, 2023. We did not receive a request to testify
at the Public Hearing. Therefore, the public hearing scheduled for
January 3, 2024, at 10 a.m. ET is cancelled.
Oluwafunmilayo A. Taylor,
Section Chief, Publications and Regulations Section, Associate Chief
Counsel, (Procedure & Administration).
[FR Doc. 2023-28793 Filed 12-29-23; 8:45 am]
BILLING CODE 4830-01-P
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