Page Range | 50258-50259 | |
FR Document | 2018-21673 |
[Federal Register Volume 83, Number 194 (Friday, October 5, 2018)] [Rules and Regulations] [Pages 50258-50259] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-21673] ======================================================================= ----------------------------------------------------------------------- DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 1 [TD 9787] RIN 1545-BK29 Section 707 Regarding Disguised Sales, Generally; Correction 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. The final regulations are under sections 707 and 752 of the Internal Revenue Code. DATES: This correction is effective October 5, 2018 and is applicable on and after October 5, 2016. FOR FURTHER INFORMATION CONTACT: Deane M. Burke or Caroline E. Hay at (202) 317-5279 (not a toll-free number). SUPPLEMENTARY INFORMATION: Background The final regulations (TD 9787), published October 5, 2016 (81 FR 69291), 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 an error that may prove to be misleading and are in need of clarification. List of Subjects in 26 CFR Part 1 Income taxes, Reporting and recordkeeping requirements. [[Page 50259]] Correction of Publication Accordingly, 26 CFR part 1 is corrected by making the following correcting amendments: PART 1--INCOME TAXES 0 Paragraph 1. The authority citation for part 1 continues to read in part as follows: Authority: 26 U.S.C. 7805 * * * Sec. 1.707-9 [Amended] 0 Par. 2. Section 1.707-9 is amended by revising the second sentence in paragraph (a)(1) to read as follows: Sec. 1.707-9 Effective dates and transitional rules. (a) * * * (1) * * * For any transaction with respect to which all transfers that are part of a sale of an item of property occur after April 24, 1991, and any of such transfers occurs before October 5, 2016, Sec. Sec. 1.707-3 through 1.707-6 as contained in 26 CFR part 1 revised as of April 1, 2016, apply. * * * * * Martin V. Franks, Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration). [FR Doc. 2018-21673 Filed 10-4-18; 8:45 am] BILLING CODE 4830-01-P
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 | Correcting amendment. | |
Dates | This correction is effective October 5, 2018 and is applicable on and after October 5, 2016. | |
Contact | Deane M. Burke or Caroline E. Hay at (202) 317-5279 (not a toll-free number). | |
FR Citation | 83 FR 50258 | |
RIN Number | 1545-BK29 | |
CFR Associated | Income Taxes and Reporting and Recordkeeping Requirements |