Requirements Respecting the Adoption or Change of Accounting Method; Extensions of Time To Make Elections; Correction

[Federal Register Volume 64, Number 133 (Tuesday, July 13, 1999)]
[Rules and Regulations]
[Page 37678]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-17518]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 602

[TD 8742]
RIN 1545-AU42 and 1545-AV20


Requirements Respecting the Adoption or Change of Accounting 
Method; Extensions of Time To Make Elections; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correcting amendment.

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SUMMARY: This document contains corrections to final regulations (TD 
8742), which were published in the Federal Register on Wednesday, 
December 31, 1997 (62 FR 68167), providing the procedures for 
requesting an extension of time to make certain elections under the 
Internal Revenue Code.

DATES: This correction is effective December 31, 1997.

FOR FURTHER INFORMATION CONTACT: Cheryl Lynn Oseekey (202) 622-4970 
(not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    Sections 301.9100-2 and 301.9100-3 of the Procedure and 
Administration Regulations are the subject of these corrections. These 
regulations require information to be collected from taxpayers seeking 
to obtain from the Commissioner extensions of time to make certain 
elections.

Need for Correction

    As published, final regulations (TD 8742) contains errors which may 
prove to be misleading and are in need of clarification.

List of Subjects in 26 CFR Part 602

    Reporting and recordkeeping requirements.

Correction of Publication

    Accordingly, 26 CFR part 602 is corrected by making the following 
correcting amendment:

PART 602--OMB CONTROL NUMBERS UNDER THE PAPERWORK REDUCTION ACT

    Paragraph 1. The authority citation for part 602 continues to read 
as follows:

    Authority: 26 U.S.C. 7805.

    Par. 2. In Sec. 602.101, paragraph (b) is amended by removing the 
entry for Sec. 301.9100-1 from the table and adding entries for 
Secs. 301.9100-2 and 301.9100-3 to the table in numerical order to read 
as follows:


Sec. 602.101  OMB Control numbers.

* * * * *
    (b) * * *

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                                                             Current OMB
     CFR part or section where identified and described      control No.
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                  *        *        *        *        *
301.9100-2.................................................    1545-1488
301.9100-3.................................................    1545-1488
 
                  *        *        *        *        *
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Cynthia E. Grigsby,
Chief, Regulations Unit, Assistant Chief Counsel (Corporate).
[FR Doc. 99-17518 Filed 7-12-99; 8:45 am]
BILLING CODE 4830-01-U