INCOME TAX

T.D. 8750, page 4. REG–115795–97, page 33. Temporary and proposed regulations provide guidance to a passive foreign investment company (PFIC) shareholder that makes the election under section 1295 of the Code to treat the PFIC as a qualified electing fund. A public hearing on the proposed regulations will be held on April 16, 1998.

Rev. Proc. 98–21, page 27. Procedures concerning requests to the U.S. competent authority for assistance in resolving cases under Article XIII(8) of the U.S.—Canada Income Tax Convention are set forth.