80_FR_66694 80 FR 66485 - Allocable Cash Basis and Tiered Partnership Items; Correction

80 FR 66485 - Allocable Cash Basis and Tiered Partnership Items; Correction

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 80, Issue 209 (October 29, 2015)

Page Range66485-66485
FR Document2015-27609

This document contains corrections to a notice of proposed rulemaking (REG-109370-10) that was published in the Federal Register on Monday, August 3, 2015 (80 FR 45905). The proposed regulations are regarding the determination of a partner's distributive share of certain allocable cash basis items and items attributable to an interest in a lower-tier partnership during a partnership taxable year in which a partner's interest changes.

Federal Register, Volume 80 Issue 209 (Thursday, October 29, 2015) 
[Federal Register Volume 80, Number 209 (Thursday, October 29, 2015)]
[Proposed Rules]
[Page 66485]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-27609]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-109370-10]
RIN 1545-BJ34


Allocable Cash Basis and Tiered Partnership Items; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to a notice of proposed rulemaking.

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SUMMARY: This document contains corrections to a notice of proposed 
rulemaking (REG-109370-10) that was published in the Federal Register 
on Monday, August 3, 2015 (80 FR 45905). The proposed regulations are 
regarding the determination of a partner's distributive share of 
certain allocable cash basis items and items attributable to an 
interest in a lower-tier partnership during a partnership taxable year 
in which a partner's interest changes.

DATES: Written or electronic comments and requests for a public hearing 
for the notice of proposed rulemaking published at 80 FR 45905, August 
3, 2015, are still being accepted and must be received by November 2, 
2015.

FOR FURTHER INFORMATION CONTACT: Benjamin H. Weaver at (202) 317-6850 
(not a toll free number).

SUPPLEMENTARY INFORMATION: 

Background

    The notice of proposed rulemaking (REG-109370-10) that is the 
subject of these corrections is under section 706 of the Internal 
Revenue Code.

Need for Correction

    As published, the notice of proposed rulemaking (REG-109370-10) 
contains errors that may prove to be misleading and are in need of 
clarification.

Correction of Publication

    Accordingly, the notice of proposed rulemaking (REG-109370-10), 
that was the subject of FR Doc. 2015-18817, is corrected as follows:

0
1. On page 45906, in the preamble, first column, the third line from 
the top of the column, the language ``section 706(d)(2)(C)(i) to a 
person who '' is corrected to read ``section 706(d)(2)(D)(i) to a 
person who''.
0
2. On page 45910, in the preamble, first column, the eleventh line from 
the top of the column, the language ``extraordinary items in Sec.  
1.706-4(d)(2)'' is corrected to read ``extraordinary items in Sec.  
1.706-4(e)(2)''.
0
3. On page 45913, third column, the first line of the signature block, 
the language ``Karen L. Schiller,'' is corrected to read ``Karen M. 
Schiller,''.


Sec.  1.706-0  [Corrected]

0
4. On Page 45910, third column, the section heading for the entry Sec.  
1.706-2 should read ``Sec.  1.706-2 Certain allocable cash basis 
items.''.
0
5. On page 49510, third column, the section heading for the entry Sec.  
1.706-3 should read ``Sec.  1.706-3 Items attributable to interest in 
lower-tier partnership.''.


Sec.  1.706-2  [Corrected]

0
6. On page 45911, first column, the section heading should read ``Sec.  
1.706-2 Certain allocable cash basis items.''.
0
7. On Page 49511, first column, paragraph (a)(2)(iii), the last line of 
the paragraph, the language ``in Sec.  1.706-4(d)); '' is corrected to 
read ``in Sec.  1.706-4(e));''.


Sec.  1.706-4  [Corrected]

0
8. On page 45913, paragraph (e)(4) Example 3., remove the language 
``2015'' and add the language ``2016'' wherever it appears.
0
9. On page 45913, second column, paragraph (e)(4) Example 3. (iii), 
sixth line from the top of the paragraph, the language ``15, 2016, and 
PRS determines that the'' is corrected to read ``15, 2017, and PRS 
determines that the''.

Martin V. Franks,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel (Procedure and Administration).
[FR Doc. 2015-27609 Filed 10-28-15; 8:45 am]
 BILLING CODE 4830-01-P

Federal Register / Vol. 80, No. 209 / Thursday, October 29, 2015 / Proposed Rules 66485 901 Locust, Room 301, Kansas City, Missouri distributive share of certain allocable 4(d)); ’’ is corrected to read ‘‘in § 1.706– 64106; telephone: (816) 329–4159; fax: (816) cash basis items and items attributable 4(e));’’. 329–3047; email: raymond.johnston@faa.gov. to an interest in a lower-tier partnership Before using any approved AMOC on any during a partnership taxable year in § 1.706–4 [Corrected] airplane to which the AMOC applies, notify ■ 8. On page 45913, paragraph (e)(4) your appropriate principal inspector (PI) in which a partner’s interest changes. DATES: Written or electronic comments Example 3., remove the language the FAA Flight Standards District Office (FSDO), or lacking a PI, your local FSDO. and requests for a public hearing for the ‘‘2015’’ and add the language ‘‘2016’’ (2) Airworthy Product: For any notice of proposed rulemaking wherever it appears. requirement in this AD to obtain corrective ■ 9. On page 45913, second column, published at 80 FR 45905, August 3, actions from a manufacturer or other source, 2015, are still being accepted and must paragraph (e)(4) Example 3. (iii), sixth use these actions if they are FAA-approved. be received by November 2, 2015. line from the top of the paragraph, the Corrective actions are considered FAA- language ‘‘15, 2016, and PRS determines approved if they are approved by the State FOR FURTHER INFORMATION CONTACT: that the’’ is corrected to read ‘‘15, 2017, of Design Authority (or their delegated Benjamin H. Weaver at (202) 317–6850 and PRS determines that the’’. agent). You are required to assure the product (not a toll free number). is airworthy before it is returned to service. SUPPLEMENTARY INFORMATION: Martin V. Franks, (h) Related Information Chief, Publications and Regulations Branch, Background Legal Processing Division, Associate Chief Refer to MCAI European Aviation Safety Counsel (Procedure and Administration). Agency (EASA) AD No.: 2015–0184, dated The notice of proposed rulemaking (REG–109370–10) that is the subject of [FR Doc. 2015–27609 Filed 10–28–15; 8:45 am] September 1, 2015; for related information. You may examine the MCAI on the Internet these corrections is under section 706 of BILLING CODE 4830–01–P at http://www.regulations.gov by searching the Internal Revenue Code. for and locating Docket No. FAA–2015–4803. For service information related to this AD, Need for Correction DEPARTMENT OF THE TREASURY contact Britten-Norman Aircraft Limited, As published, the notice of proposed Commodore House, Mountbatten Business rulemaking (REG–109370–10) contains Internal Revenue Service Centre, Millbrook Road East, Southampton SO15 1HY, United Kingdom; telephone: +44 errors that may prove to be misleading and are in need of clarification. 26 CFR Part 1 20 3371 4000; fax: +44 20 3371 4001; email: info@bnaircraft.com; Internet: http:// Correction of Publication [REG–155164–09] www.britten-norman.com/customer-support/. You may review copies of the referenced Accordingly, the notice of proposed RIN 1545–BJ48 service information at the FAA, Small rulemaking (REG–109370–10), that was Airplane Directorate, 901 Locust, Kansas the subject of FR Doc. 2015–18817, is United States Property Held by City, Missouri 64106. For information on the corrected as follows: Controlled Foreign Corporations in availability of this material at the FAA, call Transactions Involving Partnerships; ■ 1. On page 45906, in the preamble, (816) 329–4148. Rents and Royalties Derived in the first column, the third line from the top Issued in Kansas City, Missouri on October Active Conduct of a Trade or 22, 2015. of the column, the language ‘‘section 706(d)(2)(C)(i) to a person who ’’ is Business; Correction Melvin Johnson, corrected to read ‘‘section 706(d)(2)(D)(i) AGENCY: Internal Revenue Service (IRS), Acting Manager, Small Airplane Directorate, to a person who’’. Aircraft Certification Service. Treasury. ■ 2. On page 45910, in the preamble, ACTION: Correction to notice of proposed [FR Doc. 2015–27571 Filed 10–28–15; 8:45 am] first column, the eleventh line from the rulemaking. BILLING CODE 4910–13–P top of the column, the language ‘‘extraordinary items in § 1.706–4(d)(2)’’ SUMMARY: This document contains is corrected to read ‘‘extraordinary items corrections to a notice of proposed in § 1.706–4(e)(2)’’. rulemaking (REG–155164–09) that was DEPARTMENT OF THE TREASURY ■ 3. On page 45913, third column, the published in the Federal Register on Internal Revenue Service first line of the signature block, the Wednesday, September 2, 2015 (80 FR language ‘‘Karen L. Schiller,’’ is 53058). The proposed rules are 26 CFR Part 1 corrected to read ‘‘Karen M. Schiller,’’. regarding the treatment as United States property of property held by a [REG–109370–10] § 1.706–0 [Corrected] controlled foreign corporation in ■ 4. On Page 45910, third column, the connection with certain transactions RIN 1545–BJ34 section heading for the entry § 1.706–2 involving partnerships. Allocable Cash Basis and Tiered should read ‘‘§ 1.706–2 Certain allocable DATES: Written or electronic comments Partnership Items; Correction cash basis items.’’. and request for a public hearing for the ■ 5. On page 49510, third column, the AGENCY: Internal Revenue Service (IRS), notice of proposed rulemaking at 80 FR section heading for the entry § 1.706–3 Treasury. 53058, September 2, 2015, are still being should read ‘‘§ 1.706–3 Items accepted and must be received by ACTION: Correction to a notice of attributable to interest in lower-tier December 1, 2015. proposed rulemaking. partnership.’’. rmajette on DSK7SPTVN1PROD with PROPOSALS FOR FURTHER INFORMATION CONTACT: Rose SUMMARY: This document contains § 1.706–2 [Corrected] E. Jenkins, at (202) 317–6934 (not a toll- corrections to a notice of proposed ■ 6. On page 45911, first column, the free number). rulemaking (REG–109370–10) that was section heading should read ‘‘§ 1.706–2 SUPPLEMENTARY INFORMATION: published in the Federal Register on Certain allocable cash basis items.’’. Monday, August 3, 2015 (80 FR 45905). ■ 7. On Page 49511, first column, Background The proposed regulations are regarding paragraph (a)(2)(iii), the last line of the The notice of proposed rulemaking the determination of a partner’s paragraph, the language ‘‘in § 1.706– that is the subject of this document is VerDate Sep<11>2014 13:15 Oct 28, 2015 Jkt 238001 PO 00000 Frm 00005 Fmt 4702 Sfmt 4702 E:\FR\FM\29OCP1.SGM 29OCP1


Document Created: 2015-12-14 15:21:50
Document Modified: 2015-12-14 15:21:50
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionProposed Rules
ActionCorrection to a notice of proposed rulemaking.
DatesWritten or electronic comments and requests for a public hearing for the notice of proposed rulemaking published at 80 FR 45905, August 3, 2015, are still being accepted and must be received by November 2, 2015.
ContactBenjamin H. Weaver at (202) 317-6850 (not a toll free number).
FR Citation80 FR 66485 
RIN Number1545-BJ34
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