Internal Revenue Service (IRS), Treasury.
Corrections to temporary regulations.
This document contain corrections to temporary regulations that were published in the Federal Register on Friday, April 26, 2002 (67 FR 20632) relating to recognition of gain on certain distributions of stock or securities of a controlled corporation in connection with an acquisition.
Effective Date: These corrections are effective April 26, 2002.Start Further Info
FOR FURTHER INFORMATION CONTACT:
Amber R. Cook, (202) 622-7530 (not a toll-free number).End Further Info End Preamble Start Supplemental Information
Start Printed Page 38200
The temporary regulations that are the subject of these corrections are under section 355(e) of the Internal Revenue Code.
Need for Correction
As published, TD 8988 contains errors which may prove to be misleading and are in need of clarification.
Correction of PublicationStart Amendment Part
Accordingly, the publication of the temporary regulations (TD 8988), which is the subject of FR Doc. 02-9929 is corrected as follows:End Amendment Part Start Amendment Part
1. On page 20635, column 2, in the preamble under the caption “Explanation of Provisions”, line 13 of paragraph H.(1.), the language “reasonable certainty” that, within six” is corrected to read “'reasonable certainty” that, within 6”.End Amendment Part
2. On page 20636, column 2, § 1.355-7T(k), the language “Effective date.” is corrected to read “Effective dates.”.End Amendment Part
3. On page 20637, column 1, § 1.355-7T(b)(3)(iii), line 13, the language “before a distribution where a person” is corrected to read “before a distribution, a person''.End Amendment Part Start Amendment Part
4. On page 20637, column 1, § 1.355-7T(b)(3)(iii), line 15, the language “intends to cause a distribution and, as” is corrected to read “intended to cause a distribution and, as''.End Amendment Part Start Amendment Part
5. On page 20641, column 2, § 1.355-7T(j) Example 4. (v), line 2, the language “of C and acquisition of X by D are part of a” is corrected to read “of C and the acquisition of X by D are part of a''.End Amendment Part Start Signature
Chief, Regulations Unit, Associate Chief Counsel, (Income Tax and Accounting).
[FR Doc. 02-13846 Filed 5-31-02; 8:45 am]
BILLING CODE 4830-01-P