Proposed Rule2024-15717
Excise Tax on Repurchase of Corporate Stock; Hearing
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
July 18, 2024
Issuing agencies
Treasury DepartmentInternal Revenue Service
Abstract
This document provides a notice of public hearing on proposed regulations that would provide guidance regarding the application of the new excise tax on repurchases of corporate stock made after December 31, 2022.
Full Text
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<title>Federal Register, Volume 89 Issue 138 (Thursday, July 18, 2024)</title>
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[Federal Register Volume 89, Number 138 (Thursday, July 18, 2024)]
[Proposed Rules]
[Page 58306]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-15717]
[[Page 58306]]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Parts 1 and 58
[REG-115710-22]
RIN 1545-BQ59
Excise Tax on Repurchase of Corporate Stock; Hearing
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice of proposed rulemaking; notice of hearing.
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SUMMARY: This document provides a notice of public hearing on proposed
regulations that would provide guidance regarding the application of
the new excise tax on repurchases of corporate stock made after
December 31, 2022.
DATES: The public hearing on these proposed regulations has been
scheduled for August 27, 2024, at 10:00 a.m. ET. The IRS must receive
speakers' outlines of the topics to be discussed at the public hearing
by August 9, 2024. If no outlines are received by August 9, 2024, the
public hearing will be cancelled.
ADDRESSES: The public hearing is being held in the Auditorium, at the
Internal Revenue Service Building, 1111 Constitution Avenue NW,
Washington, DC. Due to security procedures, visitors must enter at the
Constitution Avenue entrance. In addition, all visitors must present a
valid photo identification to enter the building. Because of access
restrictions, visitors will not be admitted beyond the immediate
entrance area more than 30 minutes before the hearing starts.
Participants may alternatively attend the public hearing by telephone.
Send submissions electronically via the Federal eRulemaking Portal
at <a href="http://www.regulations.gov">www.regulations.gov</a> (IRS REG-115710-22) or to CC:PA:01:PR (REG-
115710-22), 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:01:PR (REG-115710-22),
Couriers Desk, Internal Revenue Service, 1111 Constitution Avenue NW,
Room 5205, Washington, DC 20224.
FOR FURTHER INFORMATION CONTACT: Concerning proposed Sec. Sec.
58.4501-1 through 58.4501-6, Kailee H. Farrell at (202) 317-6975;
concerning proposed Sec. 58.4501-7, Brittany N. Dobi at (202) 317-
5469; concerning proposed Sec. 1.1275-6(f)(12)(iii), Jonathan A.
LaPlante at (202) 317-3900; concerning the hearing and/or to be placed
on the building access list to attend the public hearing, call the
Publications and Regulations Section at (202) 317-6901 (not a toll-free
number) or by email to <a href="/cdn-cgi/l/email-protection#8ffffaede3e6ece7eaeefde6e1e8fccfe6fdfca1e8e0f9"><span class="__cf_email__" data-cfemail="deaeabbcb2b7bdb6bbbfacb7b0b9ad9eb7acadf0b9b1a8">[email protected]</span></a> (preferred).
SUPPLEMENTARY INFORMATION: The subject of the public hearing is the
notice of proposed rulemaking (REG-115710-22) that was published in the
Federal Register on Friday, April 12, 2024 (FR 89 25980).
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 discussed and the time to be devoted to each topic by
August 9, 2024.
A period of 10 minutes will be allotted to each person for making
comments. An agenda showing the scheduling of the speakers will be
prepared after the deadline for receiving outlines has passed. Copies
of the agenda will be available free of charge at the hearing, and via
the Federal eRulemaking Portal (www.Regulations.gov) under the title of
Supporting & Related Material. If no outline of the topics to be
discussed at the hearing is received by August 9, 2024, the public
hearing will be cancelled. If the public hearing is cancelled, a notice
of cancellation of the public hearing will be published in the Federal
Register.
Individuals who want to testify in person at the public hearing
must send an email to <a href="/cdn-cgi/l/email-protection#49393c2b25202a212c283b20272e3a09203b3a672e263f"><span class="__cf_email__" data-cfemail="c8b8bdaaa4a1aba0ada9baa1a6afbb88a1babbe6afa7be">[email protected]</span></a> to have your legal name
added to the building access list. The subject line of the email must
contain the regulation number REG-115710-22 and the language ``TESTIFY
In Person.'' For example, the subject line may say: Request to TESTIFY
In Person at Hearing for REG-115710-22.
Individuals who want to testify by telephone at the public hearing
must send an email to <a href="/cdn-cgi/l/email-protection#4c3c392e20252f24292d3e25222b3f0c253e3f622b233a"><span class="__cf_email__" data-cfemail="24545146484d474c4145564d4a4357644d56570a434b52">[email protected]</span></a> to receive the telephone
number and access code for the hearing. The subject line of the email
must contain the regulation number REG-115710-22 and the language
``TESTIFY Telephonically.'' For example, the subject line may say:
Request to TESTIFY Telephonically at Hearing for REG-115710-22.
Individuals who want to attend the public hearing in person without
testifying must also send an email to <a href="/cdn-cgi/l/email-protection#ec9c998e80858f84898d9e85828b9fac859e9fc28b839a"><span class="__cf_email__" data-cfemail="28585d4a44414b404d495a41464f5b68415a5b064f475e">[email protected]</span></a> to have
your legal name added to the building access list. The subject line of
the email must contain the regulation number REG-115710-22 and the
language ``ATTEND In Person.'' For example, the subject line may say:
Request to ATTEND Hearing In Person for REG-115710-22. Requests to
attend the public hearing must be received by 5:00 p.m. ET on August
22, 2024.
Individuals who want to attend the public hearing by telephone
without testifying must also send an email to <a href="/cdn-cgi/l/email-protection#720207101e1b111a1713001b1c1501321b00015c151d04"><span class="__cf_email__" data-cfemail="92e2e7f0fefbf1faf7f3e0fbfcf5e1d2fbe0e1bcf5fde4">[email protected]</span></a> to
receive the telephone number and access code for the hearing. The
subject line of the email must contain the regulation number REG-
115710-22 and the language ``ATTEND Hearing Telephonically.'' For
example, the subject line may say: Request to ATTEND Hearing
Telephonically for REG-115710-22. Requests to attend the public hearing
must be received by 5:00 p.m. ET on August 22, 2024.
Any questions regarding speaking at or attending a public hearing
may also be emailed to <a href="/cdn-cgi/l/email-protection#700005121c191318151102191e1703301902035e171f06"><span class="__cf_email__" data-cfemail="75050017191c161d1014071c1b1206351c07065b121a03">[email protected]</span></a>.
Oluwafunmilayo A. Taylor,
Section Chief, Publications and Regulations Section, Associate Chief
Counsel, (Procedure and Administration).
[FR Doc. 2024-15717 Filed 7-17-24; 8:45 am]
BILLING CODE 4830-01-P
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