Simplification of Entity Classification Rules

[4830-01-u] DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 301 [PS-43-95] RIN 1545-AT91

TITLE: Simplification of Entity Classification Rules

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice of proposed rulemaking and notice of public hearing.

SUMMARY: This document contains proposed regulations that would replace the existing regulations for classifying certain business organizations with an elective regime. These proposed regulations simplify the existing classification rules.

DATES: Written comments and requests to speak (with outlines of oral comments) at a public hearing scheduled for August 21, 1996, at 10 a.m. must be submitted by August 12, 1996.

ADDRESSES: Send submissions to: CC: DOM: CORP: R (PS-43-95), room 5228, Internal Revenue Service, POB 7604, Ben Franklin Station, Washington, DC 20044. In the alternative, submissions may be hand delivered between the hours of 8 a.m. and 5 p.m. to: CC: DOM: CORP: R (PS-43-95), Courier's Desk, Internal Revenue Service, 1111 Constitution Avenue NW., Washington, DC.

FOR FURTHER INFORMATION CONTACT: Concerning the regulations, Armando Gomez, (202) 622-3050; concerning foreign organizations, Ronald M. Gootzeit or William H. Morris, (202) 622-3880; concerning submissions and the hearing, Evangelista Lee (202) 622-7190 (not toll-free numbers).

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