Internal Revenue Service, Treasury.
This document contains a correction to temporary regulations (TD 9449) that were published in the Federal Register on Thursday, May 7, 2009 (74 FR 21256) that explain how to allocate prepaid qualified mortgage insurance premiums to determine the amount of the prepaid premium that is treated as qualified residence interest each taxable year under section 163(h)(4)(F) of the Internal Revenue Code. The temporary regulations also provide guidance to reporting entities receiving premiums, including prepaid premiums, for mortgage insurance. The temporary regulations reflect changes to the law made by the Tax Relief and Health Care Act of 2006 and the Mortgage Forgiveness Debt Relief Act of 2007.
This correction is effective on June 8, 2009, and is applicable beginning May 7, 2009.Start Further Info
FOR FURTHER INFORMATION CONTACT:
Angela Warren (202) 622-4950 or Stephen Coleman (202) 622-4910 (not toll-free numbers).End Further Info End Preamble Start Supplemental Information
The temporary regulations that are the subject of this document are under section 163-11T(e) of the Internal Revenue Code.
Need for Correction
As published, the temporary regulations (TD 9449) contain an error 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 Signature
Diane O. Williams,
Federal Register Liaison, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration).
[FR Doc. E9-13234 Filed 6-5-09; 8:45 am]
BILLING CODE 4830-01-P