Internal Revenue Service (IRS), Treasury.
This document contains corrections to final regulations (TD 9390) that were published in the Federal Register on Friday, March 28, 2008 (73 FR 16519) clarifying the substantive requirements for tax exemption under section 501(c)(3) of the Internal Revenue Code. These final regulations also contain provisions that clarify the relationship between the substantive requirements for tax exemption under section 501(c)(3) and the imposition of section 4958 excise taxes on excess benefit transactions.
This correction is effective April 29, 2008 and is applicable on March 28, 2008.Start Further Info
FOR FURTHER INFORMATION CONTACT:
Galina Kolomietz, (202) 622-7971 (not a toll-free number).End Further Info End Preamble Start Supplemental Information
The final regulations that are the subject of this document are under sections 501(c)(3) and 4958 of the Internal Revenue Code.
Need for Correction
As published, final regulations (TD 9390) 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 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
End Amendment Part Start Amendment Part
1. In paragraph (d)(1)(iii)End Amendment Part Start Amendment Part
2. In paragraph (f)(2)(iv)End Amendment Part Start Amendment Part
3. In paragraph (f)(2)(iv)End Amendment Part
LaNita Van Dyke,
Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration).
[FR Doc. E8-9362 Filed 4-28-08; 8:45 am]
BILLING CODE 4830-01-P