82 FR 8811 - Guidance Under Section 355(e) Regarding Predecessors, Successors, and Limitation on Gain Recognition; Guidance Under Section 355(f); Correction

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 82, Issue 19 (January 31, 2017)

Page Range		8811-8812
FR Document		2017-01055

This document contains corrections to temporary regulations (TD 9805) that published in the Federal Register on Monday, December 19, 2016 (81 FR 91738). The temporary regulations provide guidance regarding the distribution by a distributing corporation of stock or securities of a controlled corporation without the recognition of income, gain, or loss.

Federal Register, Volume 82 Issue 19 (Tuesday, January 31, 2017)

[Federal Register Volume 82, Number 19 (Tuesday, January 31, 2017)]
[Rules and Regulations]
[Pages 8811-8812]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-01055]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9805]
RIN 1545-BN18


Guidance Under Section 355(e) Regarding Predecessors, Successors, 
and Limitation on Gain Recognition; Guidance Under Section 355(f); 
Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Temporary regulations; correction.

-----------------------------------------------------------------------

SUMMARY: This document contains corrections to temporary regulations 
(TD 9805) that published in the Federal Register on Monday, December 
19, 2016 (81 FR 91738). The temporary regulations provide guidance 
regarding the distribution by a distributing corporation of stock or 
securities of a

[[Page 8812]]

controlled corporation without the recognition of income, gain, or 
loss.

DATES: This correction is effective January 31, 2017 and applicable 
December 19, 2016.

FOR FURTHER INFORMATION CONTACT: Richard K. Passales at (202) 317-5024 
or Marie C. Milnes-Vasquez, (202) 317-7700 (not a toll-free number).

SUPPLEMENTARY INFORMATION: 

Background

    The final regulation (TD 9805) that is the subject of this 
correction is under section 355 of the Internal Revenue Code.

Need for Correction

    As published, the final regulation (TD 9805) contains errors that 
may prove to be misleading and are in need of clarification.

Correction of Publication

    Accordingly, the final regulation (TD 9805), that are the subject 
of FR Doc. 2016-30160, are corrected as follows:
    1. On page 91745, in the preamble, third column, the last line from 
the bottom of the last full paragraph, the language ``Controlled stock 
its distributes.'' is corrected to read ``Controlled stock it 
distributes''.

Martin V. Franks,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel, (Procedure and Administration).
[FR Doc. 2017-01055 Filed 1-30-17; 8:45 am]
 BILLING CODE 4830-01-P

Federal Register / Vol. 82, No. 19 / Tuesday, January 31, 2017 / Rules and Regulations 8811

for ‘‘679.24(a)’’, ‘‘679.42(a) through (j)’’, § 679.42 [Amended] Federal election laws; and requiring the
and ‘‘679.24’’, ‘‘679.42(b), (k)(2), and (l)’’ ■ 12. In § 679.42, paragraphs (b)(1) and reimbursement to HUD of housing
are stayed until March 12, 2017. (2), (k)(1) and (2), and paragraph (l) are counseling grant funds that HUD finds
stayed until March 12, 2017. were misused. After publication, HUD
Title 50—Wildlife and Fisheries
discovered an incorrect amendatory
§ 679.51 [Amended] instruction. This document makes the
PART 300—INTERNATIONAL
FISHERIES REGULATIONS ■ 13. In § 679.51, paragraphs (a)(1)(i) necessary correction. The effective date
introductory text and (a)(1)(i)(B) are for HUD’s final rule of January 13, 2017
Subpart E—Pacific Halibut Fisheries stayed until March 12, 2017. is unchanged.
DATES: Effective January 31, 2017.
■ 3. The authority citation for part 300, Table 15 to Part 679—[Amended]
FOR FURTHER INFORMATION CONTACT:
subpart E, continues to read as follows: ■ 14. In Table 15 to part 679, entries for With respect to this supplementary
Authority: 16 U.S.C. 773–773k. ‘‘Pot’’, ‘‘Authorized gear for sablefish document, contact Ariel Periera,
harvested from any GOA reporting Associate General Counsel for
§ 300.61 [Amended]
area’’, and ‘‘Authorized gear for halibut Legislation and Regulations, Department
■ 4. In § 300.61, the definitions of harvested from any IFQ regulatory of Housing and Urban Development,
‘‘Fishing’’ and ‘‘IFQ halibut’’ are stayed area’’, and ‘‘Authorized gear for halibut 451 7th Street SW., Room 10238,
until March 12, 2017. harvested from any IFQ regulatory area Washington, DC 20410; telephone
in the BSAI’’ are stayed until March 12, number 202–708–1793 (this is not a toll-
PART 679—FISHERIES OF THE 2017. free number). Persons with hearing or
EXCLUSIVE ECONOMIC ZONE OFF [FR Doc. 2017–02055 Filed 1–30–17; 8:45 am] speech impairments may access this
ALASKA BILLING CODE 3510–22–P
number through TTY by calling the toll-
free Federal Relay Service at 800–877–
■ 5. The authority citation for part 679 8339.
continues to read as follows: SUPPLEMENTARY INFORMATION: In the
DEPARTMENT OF HOUSING AND
Authority: 16 U.S.C. 773 et seq.; 1801 et URBAN DEVELOPMENT final rule FR Doc. 2016–29822,
seq.; 3631 et seq.; Pub. L. 108–447; Pub. L. published in the Federal Register on
111–281. 24 CFR Part 574 December 14, 2016 (81 FR 90632), the
§ 679.2 [Amended] following correction is made:
[Docket No. FR 5339–C–04] On page 90659, in the third column,
■ 6. In § 679.2, the definition of RIN 2502–AI94 revise amendatory instruction 17 to read
‘‘Authorized fishing gear,’’ paragraphs ‘‘Add § 574.660 to read as follows:’’.
(4)(i), (iii), and (iv), and the definition Housing Counseling: New Certification Dated: January 4, 2017.
of ‘‘IFQ halibut’’ are stayed until March Requirements; Correction Aaron Santa Anna,
12, 2017.
AGENCY: Office of the General Counsel, Assistant General Counsel for Regulations.
§ 679.5 [Amended] HUD. [FR Doc. 2017–00255 Filed 1–30–17; 8:45 am]

■ 7. In § 679.5, paragraph (a)(4)(i), the ACTION: Final rule; correction. BILLING CODE 4210–67–P

note to the table at paragraph
(c)(1)(vi)(B), paragraphs (c)(2)(iii)(A), SUMMARY: On December 14, 2016, HUD
(c)(3)(i)(B), (c)(3)(ii)(A)(1), published a final rule implementing
DEPARTMENT OF THE TREASURY
(c)(3)(ii)(B)(1), (c)(3)(iv)(A)(2), changes to HUD’s housing counseling
(c)(3)(iv)(B)(2), (c)(3)(v)(G), (l)(1)(iii)(F) statute to improve the effectiveness of Internal Revenue Service
and (G), and (l)(1)(iii)(H) and (I) are housing counseling in HUD programs
stayed until March 12, 2017. by, among other things: Establishing the 26 CFR Part 1
Office of Housing Counseling and giving
§ 679.7 [Amended] this office the authority over the [TD 9805]
establishment, coordination, and
■ 8. In § 679.7, paragraphs (a)(6) administration of all regulations, RIN 1545–BN18
introductory text, (a)(6)(i), (a)(13) requirements, standards, and
introductory text, (a)(13)(ii) introductory Guidance Under Section 355(e)
performance measures under programs
text, (a)(13)(iv), and (f)(17) through (25) Regarding Predecessors, Successors,
and laws administered by HUD that
are stayed until March 12, 2017. and Limitation on Gain Recognition;
relate to housing counseling; requiring
Guidance Under Section 355(f);
§ 679.20 [Amended] that organizations providing housing
Correction
counseling required under or in
■ 9. In § 679.20, paragraph (a)(4)(i), the connection with HUD programs be AGENCY: Internal Revenue Service (IRS),
paragraph (a)(4)(ii) heading, and approved to participate in the Housing Treasury.
paragraph (a)(4)(ii)(A) are stayed until Counseling Program (Housing ACTION: Temporary regulations;
March 12, 2017. Counseling Agencies, or HCAs) and correction.
§ 679.23 [Amended] have all individuals providing such
asabaliauskas on DSK3SPTVN1PROD with RULES

housing counseling certified by HUD as SUMMARY: This document contains
■ 10. In § 679.23, paragraph (g)(2) is competent to provide such services; corrections to temporary regulations (TD
stayed until March 12, 2017. prohibiting the distribution of housing 9805) that published in the Federal
counseling grant funds awarded to Register on Monday, December 19, 2016
§ 679.24 [Amended]
agencies participating in HUD’s Housing (81 FR 91738). The temporary
■ 11. In § 679.24, paragraphs (a)(3), Counseling Program that are found in regulations provide guidance regarding
(b)(1)(iii), (c)(2)(i)(A) and (B), and (c)(3) violation of Federal election laws or that the distribution by a distributing
are stayed until March 12, 2017. have employees found in violation of corporation of stock or securities of a

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8812 Federal Register / Vol. 82, No. 19 / Tuesday, January 31, 2017 / Rules and Regulations

controlled corporation without the DATES: This final rule is effective March made pursuant to the 2015 Act was
recognition of income, gain, or loss. 2, 2017. published in the Federal Register on
DATES: This correction is effective FOR FURTHER INFORMATION CONTACT: June 2, 2016, at 81 FR 35269 and raised
January 31, 2017 and applicable Thomas J. Schlageter, Assistant Legal the maximum penalty per violation
December 19, 2016. Counsel, (202) 663–4668, or Ashley M. from $210 to $525. The purpose of the
FOR FURTHER INFORMATION CONTACT: Martin, General Attorney, (202) 663– annual adjustment for inflation is to
Richard K. Passales at (202) 317–5024 or 4695, Office of Legal Counsel, 131 M St. maintain the remedial impact of civil
Marie C. Milnes-Vasquez, (202) 317– NE., Washington, DC 20507. Requests monetary penalties and promote
7700 (not a toll-free number). for this notice in an alternative format compliance with the law. These
should be made to the Office of periodic adjustments to the penalty are
SUPPLEMENTARY INFORMATION:
Communications and Legislative Affairs to be calculated pursuant to the
Background at (202) 663–4191 (voice) or (202) 663– inflation adjustment formula provided
4494 (TTY), or to the Publications in section 5(b) of the 2015 Act and, in
The final regulation (TD 9805) that is
Information Center at 1–800–669–3362 accordance with section 6 of the 2015
the subject of this correction is under
(toll free). Act, the adjusted penalty will apply
section 355 of the Internal Revenue
SUPPLEMENTARY INFORMATION: only to penalties assessed after the
Code.
effective date of the adjustment.
Need for Correction I. Background Generally, the periodic inflation
As published, the final regulation (TD Under section 711 of the Civil Rights adjustment to a civil monetary penalty
9805) contains errors that may prove to Act of 1964 (Title VII), which is under the 2015 Act will be based on the
be misleading and are in need of incorporated by reference in section 105 percentage change between the
clarification. of the Americans with Disabilities Act Consumer Price Index for all Urban
(ADA) and section 207 of the Genetic Consumers (CPI–U) for the month of
Correction of Publication Information Non-Discrimination Act October preceding the date of
Accordingly, the final regulation (TD (GINA), and 29 CFR 1601.30(a), every adjustment and the prior year’s October
9805), that are the subject of FR Doc. employer, employment agency, labor CPI–U.
2016–30160, are corrected as follows: organization, and joint labor- II. Mathematical Calculation
1. On page 91745, in the preamble, management committee controlling an
apprenticeship or other training The adjustment set forth in this final
third column, the last line from the
program covered by Title VII, ADA, or rule was calculated by comparing the
bottom of the last full paragraph, the
GINA must post notices describing the CPI–U for October 2016 with the CPI–
language ‘‘Controlled stock its
pertinent provisions of Title VII, ADA, U for October 2015, resulting in an
distributes.’’ is corrected to read
or GINA. Such notices must be posted inflation adjustment factor of 1.01636.
‘‘Controlled stock it distributes’’.
in prominent and accessible places The first step of the calculation is to
Martin V. Franks,
where notices to employees, applicants, multiply the inflation adjustment factor
Chief, Publications and Regulations Branch, and members are customarily (1.01636) by the most recent civil
Legal Processing Division, Associate Chief
maintained. penalty amount ($525) to calculate the
Counsel, (Procedure and Administration). inflation-adjusted penalty level
The EEOC first adjusted the civil
[FR Doc. 2017–01055 Filed 1–30–17; 8:45 am]
monetary penalty for violations of the ($533.589). The second step is to round
BILLING CODE 4830–01–P
notice posting requirements in 1997 this inflation-adjusted penalty to the
pursuant to the Federal Civil Penalties nearest dollar ($534). Accordingly, we
Inflation Adjustment Act of 1990 are adjusting the maximum penalty per
(FCPIA Act), 28 U.S.C. 2461 note, as violation specified in 29 CFR 1601.30(a)
EQUAL EMPLOYMENT OPPORTUNITY
amended by the Debt Collection from $525 to $534.
COMMISSION
Improvement Act of 1996 (DCIA), Public III. Regulatory Procedures
29 CFR Part 1601 Law 104–134, Sec. 31001(s)(1), 110 Stat.
1373. A final rule was published in the Administrative Procedure Act
RIN 3046–AB06 Federal Register on May 16, 1997, at 62 The Administrative Procedure Act
FR 26934, which raised the maximum (APA) provides an exception to the
The 2017 Adjustment of the Penalty for
penalty per violation from $100 to $110. notice and comment procedures where
Violation of Notice Posting
The EEOC’s second adjustment, made an agency finds good cause for
Requirements
pursuant to the FCPIA Act, as amended dispensing with such procedures, on the
AGENCY: Equal Employment by the DCIA, was published in the basis that they are impracticable,
Opportunity Commission. Federal Register on March 19, 2014, at unnecessary, or contrary to the public
ACTION: Final rule. 79 FR 15220 and raised the maximum interest. EEOC finds that under 5 U.S.C.
penalty per violation from $110 to $210. 553(b)(3)(B) good cause exists for
SUMMARY: In accordance with the The Federal Civil Penalties Inflation dispensing with the notice of proposed
Federal Civil Penalties Inflation Adjustment Act Improvements Act of rulemaking and public comment
Adjustment Act Improvements Act of 2015 (2015 Act), Public Law 114–74, procedures for this rule because this
2015, which further amended the Sec. 701(b), 129 Stat. 599, further adjustment of the civil monetary penalty
asabaliauskas on DSK3SPTVN1PROD with RULES

Federal Civil Penalties Inflation amended the FCPIA Act, to require each is required by the 2015 Act, the formula
Adjustment Act of 1990, this final rule federal agency, not later than July 1, for calculating the adjustment to the
adjusts for inflation the civil monetary 2016, and not later than January 15 of penalty is prescribed by statute, and the
penalty for violation of the notice- every year thereafter, to issue Commission has no discretion in
posting requirements in Title VII of the regulations adjusting for inflation the determining the amount of the
Civil Rights Act of 1964, the Americans maximum civil penalty that may be published adjustment. Accordingly, we
with Disabilities Act, and the Genetic imposed pursuant to each agency’s are issuing this revised regulation as a
Information Non-Discrimination Act. statutes. The EEOC’s initial adjustment final rule without notice and comment.

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Document Created: 2017-01-31 00:19:56
Document Modified: 2017-01-31 00:19:56

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Rules and Regulations
Action		Temporary regulations; correction.
Dates		This correction is effective January 31, 2017 and applicable December 19, 2016.
Contact		Richard K. Passales at (202) 317-5024 or Marie C. Milnes-Vasquez, (202) 317-7700 (not a toll-free number).
FR Citation		82 FR 8811
RIN Number		1545-BN18

82 FR 8811 - Guidance Under Section 355(e) Regarding Predecessors, Successors, and Limitation on Gain Recognition; Guidance Under Section 355(f); Correction

DEPARTMENT OF THE TREASURYInternal Revenue Service

Federal Register Volume 82, Issue 19 (January 31, 2017)

DEPARTMENT OF THE TREASURY
Internal Revenue Service