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)

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, 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)''.
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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.''.
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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.''.
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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