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Internal Revenue Service (IRS), Treasury.
Correction to temporary regulations.
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 to providing guidance regarding the use of a nonaccrual-experience method of accounting by taxpayers using an accrual method of accounting and performing services.
This correction is effective September 4, 2003.
Terrance McWhorter (202) 622-4970 (not a toll free number).
( printed page 66708)
The temporary regulations that are the subject of these corrections are under section 448 of the Internal Revenue Code.
As published, this temporary regulation (TD 9090) contain errors that may prove to be misleading and are in need of clarification.
Accordingly, the publication of temporary regulations (TD 9090), which were the subject of FR Doc. 03-22458, is corrected as follows:
1. On page 52504, column 1, § 1.448-2T(f)(c) T3Example 4, the sixth entry in the table is corrected to read as follows:
| Taxable year | Total accounts receivable | Bad debts adjusted for recoveries |
|---|---|---|
| * * * * * | ||
| 2002 | 90,000 | 16,800 |
| * * * * * | ||
2. On page 52504, column 1, § 1.448-2T(f)(c), Example 4 (ii), third line, the language “Assume that $49,300 of the total $80,000 of” is corrected to read “Assume that $49,300 of the total $90,000 of”.
Cynthia E. Grigsby,
Acting Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel, (Procedure and Administration).
[FR Doc. 03-29727 Filed 11-26-03; 8:45 am]
BILLING CODE 4830-01-P