REMIC Residual Interests-Accounting for REMIC Net Income (Including Any Excess Inclusions (Foreign Holders), 43398-43400 [E6-12364]
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43398
Federal Register / Vol. 71, No. 147 / Tuesday, August 1, 2006 / Proposed Rules
hsrobinson on PROD1PC70 with PROPOSALS
measure infant growth, and would not
discourage clinical studies for this time
period, FDA believes it is not necessary
to conduct a clinical study, for the
purpose of evaluating physical growth
as a quality factor, for the infants’ entire
first 6 months of age.
FDA proposed that a clinical study be
no less than 4 months in duration,
enrolling infants no more than 1 month
old at the time of entry into the study.
FDA received several comments on this
issue, both in response to the 1996
proposed rule and in response to the
2003 proposed rule. None of the
comments were in favor of a study
duration requirement of 6 months. The
comments FDA received favored a
duration requirement ranging between
112 and 120 days, and recommended an
enrollment requirement of between the
age of 8 days and 1 month.
To better capture the maximum
amount of time during the most rapid
growth period for infants, FDA is
considering whether to require a time
period for clinical studies of a period of
no less than 15 weeks that would
commence at no more than 2 weeks of
age. FDA believes 15 weeks provides a
sufficient amount of time for assessing
the physical growth of infants. Given
this relatively short time period and the
importance of a sufficient length of time
for determining growth outcomes, FDA
believes it is important to require that
the study commence no later than 2
weeks of age. These changes would
result in a clinical study extending
through approximately the infant’s first
4 months of age. A required study
duration of no less than 15 weeks
corresponds to the Iowa reference data
recommendations regarding the
duration of a clinical study. FDA
requests comments on whether, in light
of the IOM report’s 180-day
recommendation, FDA should consider
requiring a study period of no less than
the infant’s first 180 days (6 months).
Comments should include any available
supporting data and information.
III. What Comments Will Be
Considered?
Comments submitted in response to
this proposed rule should focus solely
on one or more of the following issues:
(1) Whether FDA should require a
microbiological standard for E.
sakazakii for powdered infant formula
of negative in 30 x 10 g samples; (2)
whether FDA should not require
microbiological standards for aerobic
plate count, coliforms, fecal coliforms,
Listeria monocytogenes, Staphylococcus
aureus, and Bacillus cereus; (3) whether
FDA should require measurements of
healthy growth beyond the two
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15:05 Jul 31, 2006
Jkt 208001
proposed quality factors of normal
physical growth (as measured by body
weight, recumbent length, head
circumference, and average daily weight
increment) and protein quality; (4)
whether FDA should require a measure
for body composition as an indicator of
normal physical growth, and if so, what
measure, and (5) whether FDA should
require the duration for a clinical study,
if required, be no less than 15 weeks,
and commence when infants are no
older than 2 weeks of age. FDA requests
comments on how, if we make the
changes to the proposed rule outlined in
this document, the costs and benefits
would either be greater or less than
estimated in the 1996 proposed rule (61
FR 36154 at 36202). We also request
comment on the extent to which the
description of industry practices in the
Rome meeting report (Ref. 2) accurately
describes the activities of all firms
supplying infant formula in the United
States. Data supplied in response to
these questions will be used to inform
any rulemaking. FDA will not consider
comments outside the scope of these
issues.
Comments previously submitted to
the Division of Dockets Management do
not need to be resubmitted, because all
comments submitted to the docket
number, found in brackets in the
heading of this document, will be
considered in development of the final
rule.
Formula: Joint FAO/WHO Meeting 2–4
February 2004,’’ available at https://
www.fao.org/documents/
show_cdr.asp?url_file=/docrep/007/y5502e/
y5502e00.htm (last visited May 10, 2006).
2. The Food and Agriculture Organization
of the United Nations and the World Health
Organization, ‘‘Enterobacter sakazakii and
Salmonella in Powdered Infant Formula:
Meeting Report, FAO Headquarters, Rome,
Italy, 16–20 January 2006,’’ available at ftp://
ftp.fao.org/ag/agn/jemra/
e_sakakazii_salmonella.pdf (last visited May
10, 2006).
3. Committee on the Evaluation of
Ingredients New to Infant Formula, ‘‘Infant
Formula: Evaluating the Safety of New
Ingredients,’’ National Institute of Medicine,
March 1, 2004.
IV. How to Submit Comments
Interested persons may submit to the
Division of Dockets Management (see
ADDRESSES) written or electronic
comments regarding this document.
Submit a single copy of electronic
comments or two paper copies of any
mailed comments, except that
individuals may submit one paper copy.
Comments are to be identified with the
docket number found in brackets in the
heading of this document. Received
comments may be seen in the Division
of Docket Management between 9 a.m.
and 4 p.m., Monday through Friday.
AGENCY:
V. References
The following references have been
placed on display in the Division of
Dockets Management (see ADDRESSES)
and may be seen by interested persons
between 9 a.m. and 4 p.m., Monday
through Friday. (FDA has verified the
Web site addresses, but we are not
responsible for subsequent changes to
the Web sites after this document
publishes in the Federal Register.)
1. The Food and Agriculture Organization
of the United Nations and the World Health
Organization, ‘‘Enterobacter sakazakii and
Other Microorganisms in Powdered Infant
PO 00000
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Dated: July 24, 2006.
Jeffrey Shuren,
Assistant Commissioner for Policy.
[FR Doc. E6–12268 Filed 7–31–06; 8:45 am]
BILLING CODE 4160–01–S
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[REG–159929–02]
RIN 1545–BB84
REMIC Residual Interests—Accounting
for REMIC Net Income (Including Any
Excess Inclusions (Foreign Holders)
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice of proposed rulemaking
by cross-reference to temporary
regulations.
SUMMARY: In the rules and regulations
section of this issue of the Federal
Register, the IRS is issuing temporary
regulations relating to the income that is
associated with a residual interest in a
Real Estate Mortgage Investment
Conduit (REMIC) and that is allocated
through certain entities to foreign
persons who have invested in those
entities. The regulations accelerate the
time when income is recognized for
withholding tax purposes to conform to
the timing of income recognition for
general tax purposes. The foreign
persons covered by these regulations
include partners in domestic
partnerships, shareholders of real estate
investment trusts, shareholders of
regulated investment companies,
participants in common trust funds, and
patrons of subchapter T cooperatives.
These regulations are necessary to
prevent inappropriate avoidance of
current income tax liability by foreign
persons to whom income from REMIC
E:\FR\FM\01AUP1.SGM
01AUP1
Federal Register / Vol. 71, No. 147 / Tuesday, August 1, 2006 / Proposed Rules
residual interests is allocated. The
regulations clarify the timing of income
under section 860G for purposes of
determining a domestic partnership’s
responsibility under sections 1441 and
1442 for withholding tax with respect to
a foreign partner’s share of REMIC net
income as a result of indirectly holding
a residual interest. The regulations also
provide that an excess inclusion is
treated as income from sources within
the United States. The text of those
temporary regulations also serves as the
text of these proposed regulations.
DATES: Written or electronic comments
and requests for a public hearing must
be received by October 30, 2006.
ADDRESSES: Send submissions to:
CC:PA:LPD:PR (REG–159929–02), room
5203, Internal Revenue Service, POB
7604, Ben Franklin Station, Washington,
DC 20044. Alternatively, taxpayers may
submit electronic comments directly to
the IRS Internet site at https://
www.irs.gov/regs or the Federal
eRulemaking Portal at https://
www.regulations.gov (IRS–REG–
159929–02).
FOR FURTHER INFORMATION CONTACT:
Concerning the proposed regulations,
Dale Collinson, (202) 622–3900 (not a
toll-free number); concerning the
submission of comments, or a request
for a public hearing, Kelly Banks
(Kelly.D.Banks@irscounsel.treas.gov).
SUPPLEMENTARY INFORMATION:
hsrobinson on PROD1PC70 with PROPOSALS
Background and Explanation of
Provisions
Temporary regulations in the Rules
and Regulations section of this issue of
the Federal Register amend the Income
Tax Regulations (26 CFR part 1) relating
to sections 860A; 860G, 863, 1441, and
1442 of the Internal Revenue Code
(Code). The temporary regulations
provide rules relating to the recognition
and sourcing of income and related
withholding issues associated with a
Real Estate Mortgage Investment
Conduit (REMIC) residual interest that
is allocated to a foreign person,
including a foreign partner in a
domestic partnership. The text of the
temporary regulations also serves as the
text of these proposed regulations. The
preamble to the temporary regulations
explains the amendments.
Special Analyses
It has been determined that this notice
of proposed rulemaking is not a
significant regulatory action as defined
in Executive Order 12866. Therefore, a
regulatory assessment is not required. It
is hereby certified that these regulations
will not have a significant economic
impact on a substantial number of small
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15:05 Jul 31, 2006
Jkt 208001
entities. This certification is based upon
the fact that the regulations do not
impose any new or different
requirements on small entities.
Therefore, a Regulatory Flexibility
Analysis under the Regulatory
Flexibility Act (5 U.S.C. chapter 6) is
not required. Pursuant to section 7805(f)
of the Code, this notice of proposed
rulemaking will be submitted to the
Chief Counsel for Advocacy of the Small
Business Administration for comment
on its impact on small business.
Comments and Requests for a Public
Hearing
Before these proposed regulations are
adopted as final regulations,
consideration will be given to any
written comments (a signed original and
eight (8) copies) or electronic comments
that are submitted timely to the IRS. The
IRS and Treasury Department request
comments on the clarity of the proposed
rules and how they can be made easier
to understand. All comments will be
available for public inspection and
copying. A public hearing will be
scheduled if requested in writing by any
person who timely submits written
comments. If a public hearing is
scheduled, notice of the date, time and
place for the public hearing will be
published in the Federal Register.
Drafting Information
The principal author of these
regulations is Dale Collinson, Office of
the Associate Chief Counsel (Financial
Institutions and Products). However,
other personnel from the IRS and
Treasury Department participated in
their development.
List of Subjects in 26 CFR Part 1
Income taxes, Reporting and
recordkeeping requirements.
Proposed Amendments to the
Regulations
Accordingly, 26 CFR part 1 is
proposed to be amended as follows:
PART 1—INCOME TAXES
Paragraph 1. The authority citation
for part 1 is amended by adding an entry
in numerical order to read, in part, as
follows:
Authority: 26 U.S.C. 7805 * * *
§ 1.860A–1 also issued under 26 U.S.C.
860G(b) and 860G(e). * * *
Par. 2. In § 1.860A–1, paragraph (b)(5)
is added to read as follows:
§ 1.860A–1
rules.
*
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Effective dates and transition
*
*
(b) * * *
Frm 00029
*
Fmt 4702
*
Sfmt 4702
43399
(5) [The text of the proposed
amendment to § 1.860A–1(b)(5) is the
same as the text of § 1.860A–1T(b)(5)
published elsewhere in this issue of the
Federal Register].
Par. 3. In § 1.860G–3, paragraph (b) is
added to read as follows:
§ 1.860G–3
Treatment of foreign persons.
*
*
*
*
*
(b) [The text of the proposed
amendment to § 1.860G–3(b) is the same
as the text of § 1.860G–3T(b) published
elsewhere in this issue of the Federal
Register].
Par. 4. Section 1.863–1 is amended as
follows:
1. The paragraph heading for
paragraph (e) is revised.
2. The text of paragraph (e) is
redesignated as (e)(1).
3. A new paragraph heading for
paragraph (e)(1) is added.
4. A new paragraph (e)(2) is added.
5. The last sentence of paragraph (f)
is revised and a new sentence is added
to the end.
The revisions and additions read as
follows:
§ 1.863–1 Allocation of gross income
under section 863(a).
*
*
*
*
*
(e) Residual interest in a REMIC—(1)
REMIC inducement fees.* * *
(2) [The text of the proposed
amendment to § 1.863–1(e)(2) is the
same as the text of § 1.863–1T(e)(2)
published elsewhere in this issue of the
Federal Register].
(f) [The text of proposed amendment
to § 1.863–1(f) is the same as the text of
§ 1.863–1T(f) published elsewhere in
this issue of the Federal Register].
Par. 5. Section 1.1441–2 is amended
by adding paragraphs (b)(5) and (d)(4)
and a sentence to the end of paragraph
(f) to read as follows:
§ 1.1441–2 Amounts subject to
withholding.
*
*
*
*
*
(b) * * *
(5) [The text of the proposed
amendment to § 1.1441–2(b)(5) is the
same as the text of § 1.1441–2T(b)(5)
published elsewhere in this issue of the
Federal Register].
*
*
*
*
*
(d) * * *
(4) [The text of the proposed
amendment to § 1.1441–2(d)(4) is the
same as the text of § 1.1441–2T(d)(4)
published elsewhere in this issue of the
Federal Register.]
*
*
*
*
*
(f) [The text of the proposed
amendment to § 1.1441–2T(f)(1) is the
same as the text of § 1.1441–2T(f)(1)
E:\FR\FM\01AUP1.SGM
01AUP1
43400
Federal Register / Vol. 71, No. 147 / Tuesday, August 1, 2006 / Proposed Rules
published elsewhere in this issue of the
Federal Register.
Mark E. Matthews,
Deputy Commissioner for Services and
Enforcement.
[FR Doc. E6–12364 Filed 7–31–06; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF HOMELAND
SECURITY
Coast Guard
33 CFR Part 100
[CGD05–06–075]
RIN 1625–AA08
Special Local Regulations for Marine
Events; Back River, Poquoson, VA
Coast Guard, DHS.
Notice of proposed rulemaking.
AGENCY:
hsrobinson on PROD1PC70 with PROPOSALS
ACTION:
SUMMARY: The Coast Guard proposes to
establish special local regulations
during the ‘‘Poquoson Seafood Festival
Workboat Races’’, a marine event to be
held October 15, 2006 on the waters of
the Back River, Poquoson, Virginia.
These special local regulations are
necessary to provide for the safety of life
on navigable waters during the event.
This action is intended to temporarily
restrict vessel traffic in a portion of the
Back River during the event.
DATES: Comments and related material
must reach the Coast Guard on or before
August 31, 2006.
ADDRESSES: You may mail comments
and related material to Commander
(dpi), Fifth Coast Guard District, 431
Crawford Street, Portsmouth, Virginia
23704–5004, hand-deliver them to
Room 415 at the same address between
9 a.m. and 2 p.m., Monday through
Friday, except Federal holidays, or fax
them to (757) 398–6203. The
Inspections and Investigations Branch,
Fifth Coast Guard District, maintains the
public docket for this rulemaking.
Comments and material received from
the public, as well as documents
indicated in this preamble as being
available in the docket, will become part
of this docket and will be available for
inspection of copying at the above
address between 9 a.m. and 2 p.m.,
Monday through Friday, except Federal
holidays.
FOR FURTHER INFORMATION CONTACT:
Dennis Sens, Project Manager, Fifth
Coast Guard District, Inspections and
Investigation Branch, at (757) 398–6204.
SUPPLEMENTARY INFORMATION:
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15:05 Jul 31, 2006
Jkt 208001
Request for Comments
We encourage you to participate in
this rulemaking by submitting
comments and related material. If you
do so, please include your name and
address, identify the docket number for
this rulemaking (CGD05–06–075),
indicate the specific section of this
document to which each comment
applies, and give the reason for each
comment. Please submit all comments
and related material in an unbound
format, no larger then 81⁄2 by 11 inches,
suitable for copying. If you would like
to know they reached us, please enclose
a stamped, self-addressed postcard or
envelope. We will consider all
comments and material received during
the comment period. We may change
this proposed rule in view of them.
Public Meeting
We do not now plan to hold a public
meeting. But you may submit a request
for a meeting by writing to the address
listed under ADDRESSES explaining why
one would be beneficial. If we
determine that one would aid this
rulemaking, we will hold one at a time
and place announced by a later notice
in the Federal Register.
Background and Purpose
On October 15, 2006, the City of
Poquoson will sponsor ‘‘Poquoson
Seafood Festival Workboat Races’’ on
the Back River, immediately adjacent
and south of Messick Point. The event
will consist of approximately 60
traditional Chesapeake Bay deadrise
workboats racing along a marked strait
line race course in heats of 2 to 4 boats
for a distance of approximately 600
yards. Due to the need for vessel control
during the event, the Coast Guard will
temporarily restrict vessel traffic in the
event area to provide for the safety of
participants, spectators and other
transiting vessels.
Discussion of Proposed Rule
The Coast Guard proposes to establish
temporary special local regulations on
specified waters of the Back River,
Poquoson, Virginia. The regulations will
be in effect from 12 p.m. to 5 p.m. on
October 15, 2006. The effect will be to
restrict general navigation in the
regulated area during the event. Except
for persons or vessels authorized by the
Coast Guard Patrol Commander, no
person or vessel may enter or remain in
the regulated area. Vessel traffic will be
allowed to transit the regulated area at
slow speed between heats, when the
Coast Guard Patrol Commander
determines it is safe to do so. These
regulations are needed to control vessel
traffic during the event to enhance the
PO 00000
Frm 00030
Fmt 4702
Sfmt 4702
safety of participants, spectators and
transiting vessels.
Regulatory Evaluation
This proposed rule is not a
‘‘significant regulatory action’’ under
section 3(f) of Executive Order 12866,
Regulatory Planning and Review, and
does not require an assessment of
potential costs and benefits under
section 6(a)(3) of that Order. The Office
of Management and Budget has not
reviewed it under that Order. It is not
‘‘significant’’ under the regulatory
policies and procedures of the
Department of Homeland Security
(DHS).
We expect the economic impact of
this proposed rule to be so minimal that
a full Regulatory Evaluation under the
regulatory policies and procedures of
DHS is unnecessary. Although this
regulation will prevent traffic from
transiting a portion of the Back River
during the event, the effect of this
regulation will not be significant due to
the limited duration that the regulated
area will be in effect and the extensive
advance notifications that will be made
to the maritime community via the
Local Notice to Mariners, marine
information broadcasts, area
newspapers and local radio stations, so
mariners can adjust their plans
accordingly. Additionally, the regulated
area has been narrowly tailored to
impose the least impact on general
navigation yet provide the level of safety
deemed necessary. vessel traffic will be
able to transit the regulated area at slow
speed between heats, when the Coast
Guard Patrol Commander deems it safe
to do so.
Small Entities
Under the Regulatory Flexibility Act
(5 U.S.C. 601–612), we have considered
whether this proposed rule would have
a significant economic impact on a
substantial number of small entities.
The term ‘‘small entities’’ comprises
small businesses, not-for-profit
organizations that are independently
owned and operated and are not
dominant in their fields, and
governmental jurisdictions with
populations of less than 50,000.
The Coast Guard certifies under 5
U.S.C. 605(b) that this proposed rule
would not have a significant economic
impact on a substantial number of small
entities. This proposed rule would affect
the following entities, some of which
might be small entities: The owners or
operators of vessels intending to transit
or anchor in the affected portions of the
Back River during the event.
Although this regulation prevents
traffic from transiting a portion of the
E:\FR\FM\01AUP1.SGM
01AUP1
]]>Agencies
[Federal Register Volume 71, Number 147 (Tuesday, August 1, 2006)]
[Proposed Rules]
[Pages 43398-43400]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-12364]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[REG-159929-02]
RIN 1545-BB84
REMIC Residual Interests--Accounting for REMIC Net Income
(Including Any Excess Inclusions (Foreign Holders)
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice of proposed rulemaking by cross-reference to temporary
regulations.
-----------------------------------------------------------------------
SUMMARY: In the rules and regulations section of this issue of the
Federal Register, the IRS is issuing temporary regulations relating to
the income that is associated with a residual interest in a Real Estate
Mortgage Investment Conduit (REMIC) and that is allocated through
certain entities to foreign persons who have invested in those
entities. The regulations accelerate the time when income is recognized
for withholding tax purposes to conform to the timing of income
recognition for general tax purposes. The foreign persons covered by
these regulations include partners in domestic partnerships,
shareholders of real estate investment trusts, shareholders of
regulated investment companies, participants in common trust funds, and
patrons of subchapter T cooperatives. These regulations are necessary
to prevent inappropriate avoidance of current income tax liability by
foreign persons to whom income from REMIC
[[Page 43399]]
residual interests is allocated. The regulations clarify the timing of
income under section 860G for purposes of determining a domestic
partnership's responsibility under sections 1441 and 1442 for
withholding tax with respect to a foreign partner's share of REMIC net
income as a result of indirectly holding a residual interest. The
regulations also provide that an excess inclusion is treated as income
from sources within the United States. The text of those temporary
regulations also serves as the text of these proposed regulations.
DATES: Written or electronic comments and requests for a public hearing
must be received by October 30, 2006.
ADDRESSES: Send submissions to: CC:PA:LPD:PR (REG-159929-02), room
5203, Internal Revenue Service, POB 7604, Ben Franklin Station,
Washington, DC 20044. Alternatively, taxpayers may submit electronic
comments directly to the IRS Internet site at https://www.irs.gov/regs
or the Federal eRulemaking Portal at https://www.regulations.gov (IRS-
REG-159929-02).
FOR FURTHER INFORMATION CONTACT: Concerning the proposed regulations,
Dale Collinson, (202) 622-3900 (not a toll-free number); concerning the
submission of comments, or a request for a public hearing, Kelly Banks
(Kelly.D.Banks@irscounsel.treas.gov).
SUPPLEMENTARY INFORMATION:
Background and Explanation of Provisions
Temporary regulations in the Rules and Regulations section of this
issue of the Federal Register amend the Income Tax Regulations (26 CFR
part 1) relating to sections 860A; 860G, 863, 1441, and 1442 of the
Internal Revenue Code (Code). The temporary regulations provide rules
relating to the recognition and sourcing of income and related
withholding issues associated with a Real Estate Mortgage Investment
Conduit (REMIC) residual interest that is allocated to a foreign
person, including a foreign partner in a domestic partnership. The text
of the temporary regulations also serves as the text of these proposed
regulations. The preamble to the temporary regulations explains the
amendments.
Special Analyses
It has been determined that this notice of proposed rulemaking is
not a significant regulatory action as defined in Executive Order
12866. Therefore, a regulatory assessment is not required. It is hereby
certified that these regulations will not have a significant economic
impact on a substantial number of small entities. This certification is
based upon the fact that the regulations do not impose any new or
different requirements on small entities. Therefore, a Regulatory
Flexibility Analysis under the Regulatory Flexibility Act (5 U.S.C.
chapter 6) is not required. Pursuant to section 7805(f) of the Code,
this notice of proposed rulemaking will be submitted to the Chief
Counsel for Advocacy of the Small Business Administration for comment
on its impact on small business.
Comments and Requests for a Public Hearing
Before these proposed regulations are adopted as final regulations,
consideration will be given to any written comments (a signed original
and eight (8) copies) or electronic comments that are submitted timely
to the IRS. The IRS and Treasury Department request comments on the
clarity of the proposed rules and how they can be made easier to
understand. All comments will be available for public inspection and
copying. A public hearing will be scheduled if requested in writing by
any person who timely submits written comments. If a public hearing is
scheduled, notice of the date, time and place for the public hearing
will be published in the Federal Register.
Drafting Information
The principal author of these regulations is Dale Collinson, Office
of the Associate Chief Counsel (Financial Institutions and Products).
However, other personnel from the IRS and Treasury Department
participated in their development.
List of Subjects in 26 CFR Part 1
Income taxes, Reporting and recordkeeping requirements.
Proposed Amendments to the Regulations
Accordingly, 26 CFR part 1 is proposed to be amended as follows:
PART 1--INCOME TAXES
Paragraph 1. The authority citation for part 1 is amended by adding
an entry in numerical order to read, in part, as follows:
Authority: 26 U.S.C. 7805 * * *
Sec. 1.860A-1 also issued under 26 U.S.C. 860G(b) and 860G(e).
* * *
Par. 2. In Sec. 1.860A-1, paragraph (b)(5) is added to read as
follows:
Sec. 1.860A-1 Effective dates and transition rules.
* * * * *
(b) * * *
(5) [The text of the proposed amendment to Sec. 1.860A-1(b)(5) is
the same as the text of Sec. 1.860A-1T(b)(5) published elsewhere in
this issue of the Federal Register].
Par. 3. In Sec. 1.860G-3, paragraph (b) is added to read as
follows:
Sec. 1.860G-3 Treatment of foreign persons.
* * * * *
(b) [The text of the proposed amendment to Sec. 1.860G-3(b) is the
same as the text of Sec. 1.860G-3T(b) published elsewhere in this
issue of the Federal Register].
Par. 4. Section 1.863-1 is amended as follows:
1. The paragraph heading for paragraph (e) is revised.
2. The text of paragraph (e) is redesignated as (e)(1).
3. A new paragraph heading for paragraph (e)(1) is added.
4. A new paragraph (e)(2) is added.
5. The last sentence of paragraph (f) is revised and a new sentence
is added to the end.
The revisions and additions read as follows:
Sec. 1.863-1 Allocation of gross income under section 863(a).
* * * * *
(e) Residual interest in a REMIC--(1) REMIC inducement fees.* * *
(2) [The text of the proposed amendment to Sec. 1.863-1(e)(2) is
the same as the text of Sec. 1.863-1T(e)(2) published elsewhere in
this issue of the Federal Register].
(f) [The text of proposed amendment to Sec. 1.863-1(f) is the same
as the text of Sec. 1.863-1T(f) published elsewhere in this issue of
the Federal Register].
Par. 5. Section 1.1441-2 is amended by adding paragraphs (b)(5) and
(d)(4) and a sentence to the end of paragraph (f) to read as follows:
Sec. 1.1441-2 Amounts subject to withholding.
* * * * *
(b) * * *
(5) [The text of the proposed amendment to Sec. 1.1441-2(b)(5) is
the same as the text of Sec. 1.1441-2T(b)(5) published elsewhere in
this issue of the Federal Register].
* * * * *
(d) * * *
(4) [The text of the proposed amendment to Sec. 1.1441-2(d)(4) is
the same as the text of Sec. 1.1441-2T(d)(4) published elsewhere in
this issue of the Federal Register.]
* * * * *
(f) [The text of the proposed amendment to Sec. 1.1441-2T(f)(1) is
the same as the text of Sec. 1.1441-2T(f)(1)
[[Page 43400]]
published elsewhere in this issue of the Federal Register.
Mark E. Matthews,
Deputy Commissioner for Services and Enforcement.
[FR Doc. E6-12364 Filed 7-31-06; 8:45 am]
BILLING CODE 4830-01-P
