Press Releases
Dear ASLRRA Member: In today's Federal Register (Friday, September 8, 2006) the Internal Revenue Service issued temporary regulations governing the Section 45G Railroad Track Maintenance Credit. Attached to this cover are two Adobe PDF documents. 1. "45G Regs.pdf" - contains today's Federal Register detailing the temporary regulations (pp. 53009 - 53019) 2. "45G Hearing Notice.pdf" - contains a notice of proposed rulemaking and a notice of public hearing (pp. 53052 - 53054). These documents should be reviewed by your CFOs, accountants, tax advisors, and attorneys who are responsible for tax matters within your company. Further information on these regulations will follow after they have been reviewed by ASLRRA. Three important dates are found in the hearing notice: 1. December 7, 2006 - the IRS will accept written or electronic comments on the temporary/proposed regulations. They must be received by the IRS by December 7. 2. December 8, 2006 - outlines of topics that individuals will present at the public hearing on the proposed regulations must be received by the IRS by December 8. 3. January 9, 2007 - the IRS will hold a public hearing on the proposed regulations on January 9. The ASLRRA will be participating in the comment and hearing process. Additional information on ASLRRA comments will follow through the fall and winter. After the temporary regulations have been reviewed in greater detail, the ASLRRA will entertain recommendations to be included in comments filed by ASLRRA. If you plan to participate individually in the comment and hearing process, please keep ASLRRA informed through Adam Nordstrom (adam.nordstrom@cch-llc.com) or Keith Hartwell (keith.hartwell@cch-llc.com) at 202-638-7790. Sincerely, Adam Nordstrom |