ADMINISTRATIVE—continued

gross income the income from international operations of ships or aircraft if the corporation is a qualified foreign corporation and the income is qualified income. A public hearing is scheduled for April 27, 2000.

REG–100276–97, page 682.

Proposed regulations under sections 860H-860L of the Code provide guidance concerning financial asset securitization investment trusts (FASITs). A public hearing is scheduled for May 15, 2000.

REG–103882–99, page 706. Proposed regulations under section 263A of the Code provide guidance for the payor of a delay rental in deducting the delay rental as an expense or charging it to depletable capital account under section 266. A public hearing is scheduled for May 26, 2000.

REG–105279–99, page 707. Proposed regulations under section 6071(b) of the Code extend the due date to March 31 for those electronically filed information returns having a due date of February 28. They also provide that under section 6651(h) failure to pay penalties will be reduced from 0.5% to 0.25% per month for certain individuals who enter into an installment agreement under section 6159.

February 22, 2000 2000–8 I.R.B.