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Limitation on Use of the Nonaccrual-Experience Method of Accounting Under Section 448(d)(5); Correction

Document Details

Information about this document as published in the Federal Register.

Published Document

This document has been published in the Federal Register. Use the PDF linked in the document sidebar for the official electronic format.

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AGENCY:

Internal Revenue Service (IRS), Treasury.

ACTION:

Correction to temporary regulations.

SUMMARY:

This document contains corrections to temporary regulations that were published in the Federal Register on September 4, 2003 (68 FR 52496) that revises temporary income tax regulations providing guidance regarding the use of a nonaccrual-experience method of accounting by taxpayers using an accrual method of accounting and performing services.

DATES:

This correction is effective September 4, 2003.

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FOR FURTHER INFORMATION CONTACT:

Terrance McWhorter (202) 622-4970 (not a toll free number).

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SUPPLEMENTARY INFORMATION:

Background

These temporary regulations that are the subject of these corrections are under section 448 of the Internal Revenue Code.

Need for Correction

As published, this temporary regulation (TD 9090) contain errors that may prove to be misleading and are in need of clarification.

Correction of Publication

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Accordingly, the publication of temporary regulations (TD 9090), which were the subject of FR Doc.

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[Corrected]
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1. On page 52502, column 3, § 1.448-2T(e)(6)(iv), second to last line of the paragraph, the language “self-test), as applicable, of this section” is corrected to read “self test, as applicable,''.

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2. On page 52503, column 1, § 1.448-2T (e)(6)(vii), in the paragraph heading, the language

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Cynthia E. Grigsby,

Acting Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration).

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[FR Doc. 03-27864 Filed 11-4-03; 8:45 am]

BILLING CODE 4830-01-P