LIFO Recapture Under Section 1363(d); Correction, 46758 [05-15762]

Download as PDF 46758 Federal Register / Vol. 70, No. 154 / Thursday, August 11, 2005 / Rules and Regulations to point of beginning. Area N. That airspace extending upward from 5,000 feet MSL to and including 10,000 feet MSL beginning at Lat. 33°59′26″ N., long. 118°53′23″ W. VNY 235 24.2 DME Lat. 34°06′00″ N., long. 118°42′12″ W. VNY 235 12.9 DME Lat. 34°06′00″ N., long. 118°14′24″ W. Railroad Freight Yard Lat. 34°02′49″ N., long. 118°21′48″ W. Lat. 34°00′20″ N., long. 118°23′05″ W. West Los Angeles College Lat. 33°57′42″ N., long. 118°22′10″ W. Manchester/405 Fwy Lat. 33°57′42″ N., long. 118°27′23″ W. Ballona Creek/Pacific Ocean Lat. 34°00′23″ N., long. 118°32′33″ W. SMO 267 4.3 DME Lat. 33°59′50″ N., long. 118°44′43″ W. to point of beginning. * * * * * Issued in Washington DC, on August 4, 2005. Edith V. Parish, Acting Manager, Airspace and Rules. [FR Doc. 05–15855 Filed 8–10–05:8:45 am] BILLING CODE 4910–13–M DEPARTMENT OF THE TREASURY Internal Revenue Service On page 39920, column 3, in the preamble, under the paragraph heading ‘‘Summary of Comments and Explanation of Revisions’’ first paragraph, lines 23 through 25, the language ‘‘corporation, the date of recapture event is a transfer of a partnership interest to an S corporation, the date of the transfer’’ is corrected to read as ‘‘corporation, the date of the transfer’’. Guy Traynor, Acting Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel, (Procedures and Administration). [FR Doc. 05–15762 Filed 8–10–05; 8:45 am] 26 CFR Part 1 [TD 9210] RIN 1545–BE75 LIFO Recapture Under Section 1363(d); Correction BILLING CODE 4830–01–P Internal Revenue Service (IRS), Treasury. ACTION: Correction to final regulations. DEPARTMENT OF DEFENSE SUMMARY: This document contains a correction to final regulations that were published in the Federal Register on July 12, 2005 (70 FR 39920) regarding the LIFO recapture by corporations converting from C Corporations to S Corporations. DATES: This correction is effective July 12, 2005. FOR FURTHER INFORMATION CONTACT: Pietro Canestrelli, at (202) 622–3060 and Martin Schaffer, at (202) 622–3070 (not toll-free numbers). SUPPLEMENTARY INFORMATION: 32 CFR Part 706 AGENCY: Background The correction notice that is the subject of this document is under section 1363 of the Internal Revenue Code. Need for Correction As published, the correction notice (TD 9210), contains an error that may prove to be misleading and is in need of clarification. Correction of Publication Accordingly, the correction notice (TD 9210), which was the subject of FR Doc. 05–13383, is corrected as follows: VerDate jul<14>2003 13:55 Aug 10, 2005 Jkt 205001 Department of the Navy Certifications and Exemptions Under the International Regulations for Preventing Collisions at Sea, 1972 Department of the Navy, DOD. Final rule. AGENCY: ACTION: SUMMARY: The Department of the Navy is amending its certifications and exemptions under the International Regulations for Preventing Collisions at Sea, 1972 (72 COLREGS), to reflect that the Deputy Assistant Judge Advocate General (Admiralty and Maritime Law) has determined that USS JIMMY CARTER (SSN 23) is a vessel of the Navy which, due to its special construction and purpose, cannot fully comply with certain provisions of the 72 COLREGS without interfering with its special function as a naval ship. The intended effect of this rule is to warn mariners in waters where 72 COLREGS apply. DATES: Effective Date: September 21, 2004. FOR FURTHER INFORMATION CONTACT: Commander Gregg A. Cervi, JAGC, U.S. Navy, Deputy Assistant Judge Advocate PO 00000 Frm 00016 Fmt 4700 Sfmt 4700 General (Admiralty and Maritime Law), Office of the Judge Advocate General, Department of the Navy, 1322 Patterson Ave., SE., Suite 3000, Washington Navy Yard, DC 20374–5066, telephone 202– 685–5040. SUPPLEMENTARY INFORMATION: Pursuant to the authority granted in 33 U.S.C. 1605, the Department of the Navy amends 32 CFR Part 706. This amendment provides notice that the Deputy Assistant Judge Advocate General (Admiralty and Maritime Law), under authority delegated by the Secretary of the Navy, has certified that USS JIMMY CARTER (SSN 23) is a vessel of the Navy which, due to its special construction and purpose, cannot fully comply with the following specific provisions of 72 COLREGS without interfering with its special function as a naval ship: Rule 21(c), pertaining to the location and arc of visibility of the sternlight; Annex I, section 2(a)(i), pertaining to the height of the masthead light; Annex I, section 2(k), pertaining to the height and relative positions of the anchor lights; and Annex I, section 3(b), pertaining to the location of the sidelights. The Deputy Assistant Judge Advocate General (Admiralty and Maritime Law) has also certified that the aforementioned lights are located in closest possible compliance with the applicable 72 COLREGS requirements. Moreover, it has been determined, in accordance with 32 CFR Parts 296 and 701, that publication of this amendment for public comment prior to adoption is impracticable, unnecessary, and contrary to public interest since it is based on technical findings that the placement of lights on this vessel in a manner differently from that prescribed herein will adversely affect the vessel’s ability to perform its military functions. List of Subjects in 32 CFR Part 706 Marine safety, Navigation (water), and Vessels. For the reasons set forth in the preamble, amend part 706 of title 32 of the Code of Federal Regulations as follows: I E:\FR\FM\11AUR1.SGM 11AUR1

Agencies

[Federal Register Volume 70, Number 154 (Thursday, August 11, 2005)]
[Rules and Regulations]
[Page 46758]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 05-15762]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9210]
RIN 1545-BE75


LIFO Recapture Under Section 1363(d); Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to final regulations.

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SUMMARY: This document contains a correction to final regulations that 
were published in the Federal Register on July 12, 2005 (70 FR 39920) 
regarding the LIFO recapture by corporations converting from C 
Corporations to S Corporations.

DATES: This correction is effective July 12, 2005.

FOR FURTHER INFORMATION CONTACT: Pietro Canestrelli, at (202) 622-3060 
and Martin Schaffer, at (202) 622-3070 (not toll-free numbers).

SUPPLEMENTARY INFORMATION:

Background

    The correction notice that is the subject of this document is under 
section 1363 of the Internal Revenue Code.

Need for Correction

    As published, the correction notice (TD 9210), contains an error 
that may prove to be misleading and is in need of clarification.

Correction of Publication

    Accordingly, the correction notice (TD 9210), which was the subject 
of FR Doc. 05-13383, is corrected as follows:
    On page 39920, column 3, in the preamble, under the paragraph 
heading ``Summary of Comments and Explanation of Revisions'' first 
paragraph, lines 23 through 25, the language ``corporation, the date of 
recapture event is a transfer of a partnership interest to an S 
corporation, the date of the transfer'' is corrected to read as 
``corporation, the date of the transfer''.

Guy Traynor,
Acting Chief, Publications and Regulations Branch, Legal Processing 
Division, Associate Chief Counsel, (Procedures and Administration).
[FR Doc. 05-15762 Filed 8-10-05; 8:45 am]
BILLING CODE 4830-01-P

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