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Federal Register / Vol. 86, No. 8 / Wednesday, January 13, 2021 / Proposed Rules connection with a declaration. As a result, section 7508Ad does not operate to postpone any acts for a mandatory 60-day period in connection with those state-by-state declarations.
Applicability Date Section 7805b1A and B of the Code generally provide that no temporary, proposed, or final regulation relating to the internal revenue laws may apply to any taxable period ending before the earliest of A the date on which such regulation is filed with the Federal Register, or B in the case of a final regulation, the date on which a proposed or temporary regulation to which the final regulation relates was filed with the Federal Register.
However, section 7805b2 provides that regulations filed or issued within 18 months of the date of the enactment of the statutory provision to which they relate are not prohibited from applying to taxable periods prior to those described in section 7805b1. As noted above, section 7508Ad was enacted on December 20, 2019, as part of the FCAA.
Accordingly, as provided in section 7805b2 of the Code, these proposed regulations are proposed to apply to disasters declared on or after December 21, 2019.
Special Analyses Certain IRS regulations, including these, are exempt from the requirements of Executive Order 12866, as supplemented and affirmed by Executive Order 13563. Therefore, a regulatory assessment is not required.
Pursuant to the Regulatory Flexibility Act 5 U.S.C. chapter 6, it is hereby certified that these proposed regulations will not have a significant economic impact on a substantial number of small entities. The proposed regulations clarify how the Secretary may postpone certain time-sensitive tax deadlines by reason of a Federally declared disaster.
Such postponements provide more time for affected taxpayers to complete timesensitive acts than they otherwise would have under the internal revenue laws. In addition, the proposed regulations would not impose a collection of information on any person, including small entities, for purposes of the Regulatory Flexibility Act 5 U.S.C.
chapter 6. Accordingly, the Secretary certifies that the regulations will not have a significant economic impact on a substantial number of small entities.
Pursuant to section 7805f of the Internal Revenue Code, the IRS will submit the proposed regulations to the Chief Counsel for the Office of Advocacy of the Small Business
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Administration for comments on the regulations impact on small businesses.
Comments and Request for a Public Hearing Before these proposed regulations are adopted as final, consideration will be given to comments that are submitted timely to the IRS as prescribed in the preamble under the ADDRESSES section.
The Treasury Department and the IRS
request comments on all aspects of the proposed regulations. Any electronic comments submitted, and to the extent practicable any paper comments submitted, will be made available at www.regulations.gov or upon request.
A public hearing will be scheduled if requested in writing by any person who timely submits electronic or written comments. Requests for a public hearing are also encouraged to be made electronically. If a public hearing is scheduled, notice of the date and time for the public hearing will be published in the Federal Register. Announcement 20204, I.R.B. 202017, provides that until further notice, public hearings conducted by the IRS will be held telephonically. Any telephonic hearing will be made accessible to people with disabilities.
Drafting Information The principal author of these regulations is William V. Spatz of the Office of Associate Chief Counsel Procedure and Administration.
However, other personnel from the Treasury Department and the IRS
participated in the development of the regulations.
List of Subjects 26 CFR Part 1
Income taxes, Reporting and recordkeeping requirements.
26 CFR Part 301
Employment taxes, Estate taxes, Excise taxes, Gift taxes, Income taxes, Penalties, Reporting and recordkeeping requirements.
Proposed Amendments to the Regulations Accordingly, 26 CFR parts 1 and 301
are proposed to be amended as follows:
PART 1INCOME TAXES
Paragraph 1. The authority citation for part 1 continues to read in part as follows:

Authority: 26 U.S.C. 7805

Par. 2. Section 1.16511 is amended by revising paragraph b1 to read as follows:

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1.16511 Election to take disaster loss deduction for preceding year.

b
1 A federally declared disaster means any disaster subsequently determined by the President of the United States to warrant assistance by the Federal Government under the Robert T. Stafford Disaster Relief and Emergency Assistance Act Stafford Act. A federally declared disaster includes both a major disaster declared under section 401 of the Stafford Act and an emergency declared under section 501 of the Stafford Act.
PART 301PROCEDURE AND
ADMINISTRATION
Par. 3. The authority citation for part 301 continues to read in part as follows:

Authority: 26 U.S.C. 7805

Par. 4. Section 301.7508A1 is amended by revising paragraph g and adding paragraph h to read as follows::

301.7508A1 Postponement of certain tax-related deadlines by reasons of a Federally declared disaster or terroristic or military action.

g Mandatory 60-day postponement1 In general. In addition to or concurrent with the postponement period specified by the Secretary in an exercise of the authority under section 7508Aa to postpone time-sensitive acts by reason of a Federally declared disaster, qualified taxpayers as defined in section 7508Ad2 are entitled to a mandatory 60-day postponement period during which the time to perform those timesensitive acts is disregarded in the same manner as under section 7508Aa. A
similar rule applies with respect to a postponement period specified by the Secretary under section 7508Ab, to postpone acts as provided in section 7508Ad4. Except for the acts set forth in paragraph g2 of this section, section 7508Ad does not apply to postpone any acts.
2 Acts postponed. The timesensitive acts that are postponed for the mandatory 60-day postponement period are the acts determined to be postponed by the Secretarys exercise of authority under section 7508Aa or b. In addition, in the case of any person described in 7508Ab, the timesensitive acts postponed for the mandatory 60-day postponement period include those described in section 7508Ad4:
i Making contributions to a qualified retirement plan within the meaning of
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