Internal Revenue Service (IRS), Treasury.
This document contains a correction to Treasury Decision 8865, which was published in the Federal Register on Tuesday, January 25, 2000 (65 FR 3820), and corrected on March 28, 2000 (65 FR 16318), relating to the amortization of certain intangible property.
This correction is effective January 25, 2000.Start Further Info
FOR FURTHER INFORMATION CONTACT:
John Huffman at (202) 622-3110 (not a toll-free number).End Further Info End Preamble Start Supplemental Information
The final regulations that are the subject of this correction are under sections 167 and 197 of the Internal Revenue Code.
Need for Correction
As published, TD 8865 contains an error which may prove to be misleading and is in need of clarification.Start List of Subjects
List of Subjects in 26 CFR Part 1
- Income taxes
- Reporting and recordkeeping requirements
Correction of PublicationStart Amendment Part
Accordingly, 26 CFR part 1 is corrected by making the following correcting amendment:End Amendment Part Start Part
PART 1—INCOME TAXESEnd Part Start Amendment Part
Paragraph 1. The authority citation for part 1 continues to read in part as follows:End Amendment Part
Par. 2. Section 1.197-2(g)(3) is amended by revising the second sentence to read as follows:End Amendment Part
(g) * * *
(3) * * * For purposes of determining the amortization period under section 197 with respect to the basis increase, the intangible is treated as having been acquired at the time of the transaction that causes the basis increase, except as provided in § 1.743-1(j)(4)(i)(B)(2). * * *
Chief, Regulations Unit, Office of Special Counsel (Modernization & Strategic Planning).
[FR Doc. 00-25999 Filed 10-11-00; 8:45 am]
BILLING CODE 4830-01-P