Internal Revenue Service (IRS), Treasury.
This document contains corrections to final regulations that were published in the Federal Register on Wednesday, March 20, 2002 (67 FR 12863) relating to the character of gain or loss from hedging transactions.
This correction is effective March 20, 2002.Start Further Info
FOR FURTHER INFORMATION CONTACT:
Elizabeth Handler (202) 622-3930 or Viva Hammer (202) 622-0869 (not toll-free numbers).End Further Info End Preamble Start Supplemental Information
The final regulations that are the subject of these corrections are under section 1221 of the Internal Revenue Code.
Need for Correction
As published, the final regulations contain errors that may prove to be misleading and are in need of clarification.Start List of Subjects
List of Subjects in 26 CFR Part 1
- Income taxes
- Reporting and recordkeeping requirements
Correction of Publication
Accordingly, 26 CFR Part 1 is corrected by making the following correcting amendments:Start Part
PART 1—INCOME TAXESEnd Part Start Amendment Part
1. The authority citation for part 1 continues to read in part as follows:End Amendment Part
2. Section 1.446-4, paragraph (d)(3) is amended by removing the language “§ 1.1221-2(a)(4)(i)” from the last sentence and adding the language “§ 1.1221-2(a)(4)” in its place.End Amendment Part
3. Section 1.1256(e)-1, paragraph (c) is amended by removing the language “(f)(1)(ii)” from the second sentence and adding the language “(g)(1)(ii)” in its place.End Amendment Part Start Signature
Cynthia E. Grigsby,
Chief, Regulations Unit, Associate Chief Counsel (Income Tax and Accounting).
[FR Doc. 02-11793 Filed 5-10-02; 8:45 am]
BILLING CODE 4830-01-P