Skip to Content

Rule

Section 707 Regarding Disguised Sales, Generally; Correction

Document Details

Information about this document as published in the Federal Register.

Enhanced Content

Relevant information about this document from Regulations.gov provides additional context. This information is not part of the official Federal Register document.

Published Document

This document has been published in the Federal Register. Use the PDF linked in the document sidebar for the official electronic format.

Start Preamble

AGENCY:

Internal Revenue Service (IRS), Treasury.

ACTION:

Correcting amendment.

SUMMARY:

This document contains corrections to final regulations (TD 9787) that were published in the Federal Register on Wednesday, October 5, 2016 (81 FR 69291). The final regulations are under sections 707 and 752 of the Internal Revenue Code.

DATES:

This correction is effective November 16, 2016 and is applicable on and after October 5, 2016.

Start Further Info

FOR FURTHER INFORMATION CONTACT:

Deane M. Burke or Caroline E. Hay at (202) 317-5279 (not a toll-free number).

End Further Info End Preamble Start Supplemental Information

SUPPLEMENTARY INFORMATION:

Background

The final regulations (TD 9787) that are the subject of this correction are under sections 707 and 752 of the Internal Revenue Code.

Need for Correction

As published, the final regulations (TD 9787) 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 1

  • Income taxes
  • Reporting and recordkeeping requirements
End List of Subjects

Correction of Publication

Start Amendment Part

Accordingly, 26 CFR Part 1 is corrected by making the following correcting amendments:

End Amendment Part Start Part

PART 1—INCOME TAXES

End Part Start Amendment Part

Paragraph 1. The authority citation for part 1 continues to read in part as follows:

End Amendment Part Start Authority

Authority: 26 U.S.C. 7805 * * *

End Authority

Section 1.707-5 also issued under 26 U.S.C. 707(a)(2)(B).

[Amended]
Start Amendment Part

Par. 2. For each entry in § 1.707-5(f) in the “Section” column, remove the language in the “Remove” column from wherever it appears in the Example and add in its place the language in the “Add” column as set forth below:

End Amendment Part
SectionRemoveAdd
Paragraph (f) Example 5 (i)20162017
Paragraph (f) Example 10 (i)20162017
Paragraph (f) Example 10 (ii)20162017
Paragraph (f) Example 11 (i)20162017
Paragraph (f) Example 11 (ii)20162017
Paragraph (f) Example 12 (i)20162017
Start Signature

Martin V. Franks,

Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration).

End Signature End Supplemental Information

[FR Doc. 2016-27515 Filed 11-15-16; 8:45 am]

BILLING CODE 4830-01-P