Employee Benefits-Cafeteria Plans, 41891 [E7-14823]
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Federal Register / Vol. 72, No. 147 / Wednesday, August 1, 2007 / Rules and Regulations
(b) * * *
(2) The applicability of this section
expires on June 14, 2010.
I Par. 3. The signature block is revised
by adding the language ‘‘Approved: June
4, 2007.’’
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[TD 9330]
Built-in Gains and Losses Under
Section 382(h); Correction
Internal Revenue Service (IRS),
Treasury.
ACTION: Correcting amendments.
LaNita Van Dyke,
Chief, Publications and Regulations Branch,
Legal Processing Division, Associate Chief
Counsel (Procedure and Administration).
[FR Doc. E7–14797 Filed 7–31–07; 8:45 am]
BILLING CODE 4830–01–P
RIN 1545–BG66
AGENCY:
SUMMARY: This document contains
corrections to temporary regulations (TD
9330) that were published in the
Federal Register on Thursday, June 14,
2007 (72 FR 32792) applying to
corporations that have undergone
ownership changes within the meaning
of section 382. These regulations
provide guidance regarding the
treatment of prepaid income under the
built-in gain provisions of section
382(h).
These corrections are effective
August 1, 2007.
FOR FURTHER INFORMATION CONTACT:
Keith Stanley at (202) 622–7750 (not a
toll-free number).
SUPPLEMENTARY INFORMATION:
DATES:
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[TD 9349]
RIN 1545–BF01
Employee Benefits—Cafeteria Plans
Internal Revenue Service (IRS),
Treasury.
ACTION: Removal of temporary
regulations.
AGENCY:
List of Subjects in 26 CFR Part 1
Income taxes, Reporting and
recordkeeping requirements.
This document removes the
temporary regulations pertaining to
benefits that may be offered to
participants under a section 125
cafeteria plan. The temporary
regulations were published in the ≤
Federal Register on February 4, 1986.
Guidance issued by the IRS and the
Treasury Department under section 125
have made these temporary regulations
obsolete.
DATES: Effective Dates: These
regulations are effective August 1, 2007.
FOR FURTHER INFORMATION CONTACT:
Mireille Khoury at (202) 622–6080 (not
a toll-free number).
SUPPLEMENTARY INFORMATION:
Background
Background
The temporary regulations that are the
subject of this document are under
section 382 of the Internal Revenue
Code.
Need for Correction
As published, temporary regulations
(TD 9330) contain errors that may prove
to be misleading and are in need of
clarification.
Correction of Publication
Accordingly, 26 CFR part 1 is
corrected by making the following
correcting amendments:
I
PART 1—INCOME TAXES
Paragraph 1. The authority citation
for part 1 continues to read in part as
follows:
I
Authority: 26 U.S.C. 7805 * * *
Par. 2. Section 1.382–7T is amended
by revising paragraph (b)(2) to read as
follows:
sroberts on PROD1PC70 with RULES
I
§ 1.382–7T Built-in gains and losses
(temporary).
*
*
*
VerDate Aug<31>2005
*
*
15:44 Jul 31, 2007
Jkt 211001
SUMMARY:
Drafting Information
The principal author of this removal
of temporary regulations is Mireille
Khoury, Office of Division Counsel/
Associate Chief Counsel (Tax Exempt
and Government Entities). However,
personnel from Treasury participated in
its development.
List of Subjects in 26 CFR Part 1
Income taxes, Reporting and
recordkeeping requirements.
Amendments to the Regulations
Accordingly, 26 CFR part 1 is
amended as follows:
I Paragraph 1. The authority citation
for part 1 continues to read in part, as
follows:
I
Authority: 26 U.S.C. 7805 * * *
§ 1.125–2T
I
[Removed]
Par. 2. Section 1.125–2T is removed.
Kevin M. Brown,
Deputy Commissioner for Services and
Enforcement.
Approved: July 24, 2007.
Eric Solomon,
Assistant Secretary (Tax Policy).
[FR Doc. E7–14823 Filed 7–31–07; 8:45 am]
It has been determined that this
removal of temporary regulations is not
a significant regulatory action as defined
in Executive Order 12866. Therefore, a
Fmt 4700
ENVIRONMENTAL PROTECTION
AGENCY
40 CFR Part 52
[EPA–R03–OAR–2005–MD–0002; FRL–
8447–6]
Approval and Promulgation of Air
Quality Implementation Plans;
Maryland; Clarification of Visible
Emissions Exceptions
Environmental Protection
Agency (EPA).
ACTION: Final rule.
AGENCY:
Special Analyses
Frm 00007
regulatory assessment is not required. It
also has been determined that section
553(b) of the Administrative Procedure
Act (5 U.S.C. chapter 5) does not apply
to this removal of temporary
regulations. This removal of temporary
regulations does not impose a collection
of information on small entities, thus
the Regulatory Flexibility Act (5 U.S.C.
chapter 6) does not apply. Pursuant to
section 7805(f) of the Internal Revenue
Code, the preceding temporary
regulations were submitted to the Chief
Counsel for Advocacy of the Small
Business Administration for comment
on its impact on small business.
BILLING CODE 4830–01–P
On February 4, 1986, the IRS and
Treasury Department published
temporary regulations on section 125.
The temporary regulations were
published in the Federal Register (TD
8073; 51 FR 4318) as section 1.125–2T.
A notice of proposed rulemaking issued
under section 125 (REG–142695–05)
and other guidance issued by the IRS
and the Treasury Department under
section 125 have made these temporary
regulations obsolete. The temporary
regulations are removed.
PO 00000
41891
Sfmt 4700
SUMMARY: EPA is approving a State
Implementation Plan (SIP) revision
E:\FR\FM\01AUR1.SGM
01AUR1
]]>Agencies
[Federal Register Volume 72, Number 147 (Wednesday, August 1, 2007)]
[Rules and Regulations]
[Page 41891]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-14823]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[TD 9349]
RIN 1545-BF01
Employee Benefits--Cafeteria Plans
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Removal of temporary regulations.
-----------------------------------------------------------------------
SUMMARY: This document removes the temporary regulations pertaining to
benefits that may be offered to participants under a section 125
cafeteria plan. The temporary regulations were published in the
Federal Register on February 4, 1986. Guidance issued by the
IRS and the Treasury Department under section 125 have made these
temporary regulations obsolete.
DATES: Effective Dates: These regulations are effective August 1, 2007.
FOR FURTHER INFORMATION CONTACT: Mireille Khoury at (202) 622-6080 (not
a toll-free number).
SUPPLEMENTARY INFORMATION:
Background
On February 4, 1986, the IRS and Treasury Department published
temporary regulations on section 125. The temporary regulations were
published in the Federal Register (TD 8073; 51 FR 4318) as section
1.125-2T. A notice of proposed rulemaking issued under section 125
(REG-142695-05) and other guidance issued by the IRS and the Treasury
Department under section 125 have made these temporary regulations
obsolete. The temporary regulations are removed.
Special Analyses
It has been determined that this removal of temporary regulations
is not a significant regulatory action as defined in Executive Order
12866. Therefore, a regulatory assessment is not required. It also has
been determined that section 553(b) of the Administrative Procedure Act
(5 U.S.C. chapter 5) does not apply to this removal of temporary
regulations. This removal of temporary regulations does not impose a
collection of information on small entities, thus the Regulatory
Flexibility Act (5 U.S.C. chapter 6) does not apply. Pursuant to
section 7805(f) of the Internal Revenue Code, the preceding temporary
regulations were submitted to the Chief Counsel for Advocacy of the
Small Business Administration for comment on its impact on small
business.
Drafting Information
The principal author of this removal of temporary regulations is
Mireille Khoury, Office of Division Counsel/Associate Chief Counsel
(Tax Exempt and Government Entities). However, personnel from Treasury
participated in its development.
List of Subjects in 26 CFR Part 1
Income taxes, Reporting and recordkeeping requirements.
Amendments to the Regulations
0
Accordingly, 26 CFR part 1 is amended as follows:
0
Paragraph 1. The authority citation for part 1 continues to read in
part, as follows:
Authority: 26 U.S.C. 7805 * * *
Sec. 1.125-2T [Removed]
0
Par. 2. Section 1.125-2T is removed.
Kevin M. Brown,
Deputy Commissioner for Services and Enforcement.
Approved: July 24, 2007.
Eric Solomon,
Assistant Secretary (Tax Policy).
[FR Doc. E7-14823 Filed 7-31-07; 8:45 am]
BILLING CODE 4830-01-P
