1 See Institute Memorandum to Tax Members No. 27-97 (and others), dated August 1, 1997.
2 See Institute Memorandum to Tax Members No. 45-97 (and others), dated November 12, 1997.
3 See Institute Memorandum to Tax Committee No. 2-98, dated January 12, 1998.
[9603]
January 16, 1998
TO: TAX COMMITTEE No. 3-98
RE: FEBRUARY 3 MEETING ON CAPITAL GAINS ISSUES
______________________________________________________________________________
A meeting has been scheduled for the afternoon of February 3 (the day before the regularly-
scheduled Tax Committee meeting) to discuss a draft Institute comment letter (that will be circulated
before the meeting) on capital gains issues arising from the Taxpayer Relief Act of 19971 and IRS Notice
97-64,2 which provides guidance regarding regulations that IRS will issue to implement the 1997
legislative changes. Committee input will be particularly helpful on matters such as (1) issues arising
from the Notice’s “bifurcation” approach on which clarification is needed and (2) the industry’s
preferred method for resolving issues arising from the interaction between the new capital gains rules
and the section 4982 excise tax minimum distribution requirements.
The meeting will be held in the Institute’s 11th Floor Conference Room, beginning at 2:00.
Lunch will be available before the meeting, beginning at 1:00. In addition, as you know,3 a dinner will be
held that evening, beginning at 6:00, for Cathy Heron, who has announced her resignation from the
Institute, effective at the end of January, to take a position with the Capital Group in Los Angeles.
If you plan to attend the February 3 meeting and/or the dinner for Cathy, please complete the
attached response form and fax it to Theresa Brice (202-326-5839) at your earliest convenience and no
later than Wednesday, January 28.
Keith D. Lawson
Associate Counsel - Tax
Attachment
ATTENDANCE RESPONSE FORM
Investment Company Institute
Capital Gains Meeting - Washington, DC
Tuesday, February 3, 1998
Please fax this portion by Wednesday, January 28, 1998 to Theresa Brice
Investment Company Institute, 202-326-5839
Yes No
_____ _____ PRE-MEETING COMMITTEE LUNCH - Tuesday, February 3 at 1
p.m.
_____ _____ CAPITAL GAINS MEETING - Tuesday, February 3 at 2:00 p.m.
_____ _____ DINNER FOR CATHY HERON - Tuesday, February 3 at 6 p.m.
________________________________________ or
________________________________________
COMMITTEE MEMBER’S NAME ALTERNATE’S NAME
________________________________________
COMPANY NAME
______ Please check here if you need special service due to a disability.
______ Please check here if you have a special dietary requirement.