[Federal Register Volume 63, Number 76 (Tuesday, April 21, 1998)] [Proposed Rules] [Page 19694] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 98-10381] [[Page 19694]] ======================================================================= ----------------------------------------------------------------------- DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 1 [REG-208299-90] RIN 1545-AP01 Allocation and Sourcing of Income and Deductions Among Taxpayers Engaged in a Global Dealing Operation; Correction
Agency
Internal Revenue Service, Treasury.
Action
Correction to notice of proposed rulemaking.
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Summary
This document contains corrections, including a change to the date of the public hearing, to the notice of proposed rulemaking (REG- 208299-90) which was published in the Federal Register on Friday, March 6, 1998 (63 FR 11177). The notice of proposed rulemaking relates to the allocation among controlled taxpayers and sourcing of income, deductions, gains and losses from a global dealing operation; rules applying these allocation and sourcing rules to foreign currency transactions and to foreign corporations engaged in a U.S. trade or business; and rules concerning the mark-to-market treatment resulting from hedging activities of a global dealing operation.
Dates
The public hearing originally scheduled for July 9, 1998, has been rescheduled for July 14, 1998.
Addresses
The public hearing will be held in room 2615, Internal Revenue Building, 1111 Constitution Avenue, NW., Washington, DC.
For Further Information Contact
Ginny Chung, (202) 622-3870 (not a toll-free number).
Supplementary Information
Background
The notice of proposed rulemaking that is subject to these corrections is under sections 482 and 864 of the Internal Revenue Code.
Need for Correction
As published, the notice of proposed rulemaking (REG-208299-90) contain errors that may prove to be misleading and are in need of clarification.
Correction of Publication
Accordingly, the publication of the notice of proposed rulemaking (REG-208299-90) which is the subject of FR Doc. 98-5674 is corrected as follows: 1. On page 11182, column 2, in the preamble under the heading ``K. Source of Global Dealing Income'', in the second paragraph, line 5, the language ``Sec. 1.863-3 which sources income from a'' is corrected to read ``Sec. 1.863-3(h) which sources income from a''. 2. On page 11185, column 2, in the preamble under the heading ``Comments and Public Hearing'', in the second paragraph, line 2, the language ``for July 9, 1998, at 10 a.m. in room 2615,'' is corrected to read ``for July 14, 1998, at 10 a.m. in room 2615,''. Cynthia E. Grigsby, Chief, Regulations Unit, Assistant Chief Counsel (Corporate). [FR Doc. 98-10381 Filed 4-20-98; 8:45 am] BILLING CODE 4830-01-U