Internal Revenue Service (IRS), Treasury.
This document contains a correction to final regulations (TD 9347) that were published in the Federal Register on Tuesday, August 7, 2007 (72 FR 44338) providing guidance to corporations with respect to estimated tax requirements.
The correction is effective September 25, 2007.Start Further Info
FOR FURTHER INFORMATION CONTACT:
Timothy Sheppard at (202) 622-4910 (not a toll-free number).End Further Info End Preamble Start Supplemental Information
The final regulations that are the subject of this correction are under sections 6425 and 6655 of the Internal Revenue Code.
Need for Correction
As published, final regulations (TD 9347) contain an error that may prove to be misleading and is in need of clarification.Start List of Subjects
List of Subjects in 26 CFR Part 1End List of Subjects
Correction of PublicationStart Amendment Part
Accordingly,End Amendment Part Start Part
PART 1—INCOME TAXESEnd Part Start Amendment Part
End Amendment Part Start Amendment Part
End Amendment Part
(g) * * *
(2) * * *
Example. * * * For the first installment period in 2008, ABC is permitted to recognize a deduction under section 199 of $3,000 ($50,000 × .06 = $3,000) subject to the wage limitation of $5,000 (50 percent of $10,000 of W-2 wages incurred during the first installment period). * * *
LaNita Van Dyke,
Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration).
[FR Doc. E7-18807 Filed 9-24-07; 8:45 am]
BILLING CODE 4830-01-P