Internal Revenue Service (IRS), Treasury.
This document contains correcting amends to IRS' regulations providing guidance regarding the treatment of prepaid income under the built-in gain provisions of section 382(h). These errors were made when the agency published final regulations (TD 9487) in the Federal Register on Wednesday, June 16, 2010 (75 FR 33990).
This correction is effective on July 28, 2010, and is applicable on June 16, 2010.Start Further Info
FOR FURTHER INFORMATION CONTACT:
Keith E. Stanley, (202) 622-7750 (not a toll-free number).End Further Info End Preamble Start Supplemental Information
The final regulations (TD 9487) that are the subject of this document are under section 382 of the Internal Revenue Code.
Need for Correction
As published, the final regulations (TD 9487) 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 Start Amendment Part
End Amendment Part
(h) * * *
(4) * * *
(vii) * * *
(A) Right or obligation to issue stock. * * *
(x) * * *
(J) Title 11 or similar case. * * *
LaNita Van Dyke,
Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel, (Procedure and Administration).
[FR Doc. 2010-18270 Filed 7-27-10; 8:45 am]
BILLING CODE 4830-01-P