Internal Revenue Service (IRS), Treasury.
Correction of final regulations.Start Printed Page 61092
This document contains corrections to final regulations relating to the application of section 263A of the Internal Revenue Code to property produced in the trade or business of farming. This document was published in the Federal Register on August 21, 2000 (65 FR 50638).
August 21, 2000.Start Further Info
FOR FURTHER INFORMATION CONTACT:
Grant D. Anderson (202) 622-4970 (not a toll-free number).End Further Info End Preamble Start Supplemental Information
Need for Correction
As published, the final regulations (TD 8897) contain errors that may prove to be misleading and are in need of clarification.
Correction of Publication
Accordingly, the publication of the final regulations (TD 8897), which were the subject of FR Doc. 00-21103, is corrected as follows:Start Amendment Part
1. On page 50638, column 3, in the preamble under the paragraph heading, “Background”, line 3, the language “proposed rulemaking (REG-208151-91)” is corrected to read “proposed rulemaking (REG-209316-86)''.End Amendment Part Start Amendment Part
2. On page 50640, column 3, paragraph 1, line 14, the language “I.R.B. (Sept. 5, 2000)) issued” is corrected to read “I.R.B. 256 (Sept. 5, 2000)) issued”.End Amendment Part Start Part
3. On page 50644, column 2, in amendatory instruction Par. 5., remove item designations for items “1.” and “2.” and correctly designate the items “2.” and “3.”, respectively. Add new item “1.” to read as follows:End Amendment Part Start Amendment Part
1. The last sentence of paragraph (a)(3)(v) is revised.End Amendment Part Start Amendment Part
4. On page 50644, column 2, § 1.263A-1, remove the five asterisks following the section heading and add the following language for the last sentence of paragraph (a)(3)(v) to read as follows:End Amendment Part
(a) * * *
(3) * * *
(v) * * * See sections 263A(d) and 263A(e) and § 1.263A-4 for rules relating to taxpayers engaged in a farming business.
5. On page 50644, column 3, § 1.263A-4, paragraph (a)(2)(i)(B), line 3, the language “disbursements method under section” is corrected to read “disbursements method of accounting (cash method) under section”.End Amendment Part Start Amendment Part
6. On page 50648, column 3, § 1.263A-4, paragraph (d)(2), line 5 from the top of the column, the language “required to use the accrual method” is corrected to read “required to use an accrual method”.End Amendment Part Start Signature
Cynthia E. Grigsby,
Chief, Regulations Unit, Office of Special Counsel (Modernization & Strategic Planning).
[FR Doc. 00-25998 Filed 10-13-00; 8:45 am]
BILLING CODE 4830-01-P