Severance of a Trust for Generation-Skipping Transfer (GST) Tax Purposes II; Correction, 48249 [E7-16619]

Download as PDF Federal Register / Vol. 72, No. 163 / Thursday, August 23, 2007 / Proposed Rules Background The notice of proposed rulemaking (REG–128224–06) that is the subject of these corrections is under section 67 of the Internal Revenue Code. Need for Correction As published, the notice of proposed rulemaking (REG–128224–06) contains errors that may prove to be misleading and are in need of clarification. Correction of Publication Accordingly, the notice of proposed rulemaking (REG–128224–06) that was the subject of FR Doc. E7–14489 is corrected as follows: On page 41245, column 1, in the preamble, under the paragraph heading ‘‘Drafting Information’’, line 3, the language ‘‘of the Office of Associate Chief Counsel’’ is corrected to read ‘‘of the Associate Chief Counsel’’. LaNita Van Dyke, Branch Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration). [FR Doc. E7–16615 Filed 8–22–07; 8:45 am] BILLING CODE 4830–01–P FOR FURTHER INFORMATION CONTACT: Mayer R. Samuels at (202) 622–3090. SUPPLEMENTARY INFORMATION: Background The notice of proposed rulemaking (REG–128843–05) that is the subject of this correction is under section 2642 of the Internal Revenue Code. Need for Correction As published, the notice of proposed rulemaking (REG–128843–05) contains an error that may prove to be misleading and is in need of clarification. Correction of Publication Accordingly, the notice of proposed rulemaking (REG–128843–05) that was the subject of FR Doc. E7–14850 is corrected as follows: § 26.2642–6 [Corrected] On page 42343, column 3, § 26.2642– 6(k)(1), lines 7 through 10, the language ‘‘severances occurring on or after [DATE THIS DOCUMENT IS PUBLISHED IN THE Federal Register AS FINAL REGULATIONS]. Paragraph (d)(4) and’’ is corrected to read ‘‘severances occurring on or after August 2, 2007. Paragraph (d)(4) and’’. LaNita Van Dyke, Branch Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration). [FR Doc. E7–16619 Filed 8–22–07; 8:45 am] DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 26 [REG–128843–05] BILLING CODE 4830–01–P RIN 1545–BE70 Severance of a Trust for GenerationSkipping Transfer (GST) Tax Purposes II; Correction DEPARTMENT OF THE TREASURY Internal Revenue Service (IRS), Treasury. ACTION: Correction to notice of proposed rulemaking. 26 CFR Part 301 SUMMARY: This document contains a correction to notice of proposed rulemaking that was published in the Federal Register on Thursday, August 2, 2007 providing guidance regarding the generation-skipping transfer (GST) tax consequences of the severance of trusts in a manner that is effective under state law, but that does not meet the requirements of a qualified severance. These proposed regulations also provide guidance regarding the GST tax consequences of a qualified severance of a trust with an inclusion ratio between zero and one into more than two resulting trusts and provide special funding rules applicable to the non pro rata division of certain assets between or among resulting trusts. Change to Office To Which Notices of Nonjudicial Sale and Requests for Return of Wrongfully Levied Property Must Be Sent; Correction ebenthall on PRODPC61 with PROPOSALS AGENCY: VerDate Aug<31>2005 15:00 Aug 22, 2007 Jkt 211001 Internal Revenue Service 48249 FOR FURTHER INFORMATION CONTACT: Robin M. Ferguson at (202) 622–3630. SUPPLEMENTARY INFORMATION: Background The notice of proposed rulemaking by cross-reference to temporary regulations (REG–148951–05) that is the subject of these corrections is under sections 7425 and 6343 of the Internal Revenue Code. Need for Correction As published, the notice of proposed rulemaking by cross-reference to temporary regulations (REG–148951–05) contains errors that may prove to be misleading and are in need of clarification. Correction of Publication Accordingly, the notice of proposed rulemaking by cross-reference to temporary regulations (REG–148951–05) that was the subject of FR. Doc. E7– 14051 is corrected as follows: 1. On page 39771, column 3, in the preamble, under the caption ‘‘FOR FURTHER INFORMATION CONTACT:’’, line 1, the language ‘‘Robin M. Ferguson, (202) 622–3610; is corrected to read ‘‘Robin M. Ferguson, (202) 622–3630;’’. 2. On page 39772, column 1, in the preamble, under paragraph heading ‘‘Drafting Information’’, lines 4 and 5, the language ‘‘and Administration (Collection, Bankruptcy and Summonses Division)’’ should be corrected to read ‘‘and Administration.’’ LaNita Van Dyke, Branch Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration). [FR Doc. E7–16624 Filed 8–22–07; 8:45 am] BILLING CODE 4830–01–P [REG–148951–05] RIN 1545–BF54 DEPARTMENT OF HOMELAND SECURITY Coast Guard 33 CFR Part 100 Internal Revenue Service (IRS), Treasury. ACTION: Correction to notice of proposed rulemaking by cross-reference to temporary regulations. [Docket No. CGD01–07–102] SUMMARY: This document contains corrections to notice of proposed rulemaking by cross-reference to temporary regulations that was published in the Federal Register on Friday, July 20, 2007 relating to the discharge of liens under section 7425 and return of wrongfully levied property under section 6343. AGENCY: AGENCY: PO 00000 Frm 00007 Fmt 4702 Sfmt 4702 RIN 1625–AA08 Special Local Regulation; Head of the Connecticut Regatta ACTION: Coast Guard, DHS. Notice of proposed rulemaking. SUMMARY: The Coast Guard is proposing to change the special local regulations for the Head of the Connecticut Regatta by moving the regulated area of the race from the southern tip of Gildersleeve Island and Light Number 87 to the E:\FR\FM\23AUP1.SGM 23AUP1

Agencies

[Federal Register Volume 72, Number 163 (Thursday, August 23, 2007)]
[Proposed Rules]
[Page 48249]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-16619]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 26

[REG-128843-05]
RIN 1545-BE70


Severance of a Trust for Generation-Skipping Transfer (GST) Tax 
Purposes II; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to notice of proposed rulemaking.

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SUMMARY: This document contains a correction to notice of proposed 
rulemaking that was published in the Federal Register on Thursday, 
August 2, 2007 providing guidance regarding the generation-skipping 
transfer (GST) tax consequences of the severance of trusts in a manner 
that is effective under state law, but that does not meet the 
requirements of a qualified severance. These proposed regulations also 
provide guidance regarding the GST tax consequences of a qualified 
severance of a trust with an inclusion ratio between zero and one into 
more than two resulting trusts and provide special funding rules 
applicable to the non pro rata division of certain assets between or 
among resulting trusts.

FOR FURTHER INFORMATION CONTACT: Mayer R. Samuels at (202) 622-3090.

SUPPLEMENTARY INFORMATION:

Background

    The notice of proposed rulemaking (REG-128843-05) that is the 
subject of this correction is under section 2642 of the Internal 
Revenue Code.

Need for Correction

    As published, the notice of proposed rulemaking (REG-128843-05) 
contains an error that may prove to be misleading and is in need of 
clarification.

Correction of Publication

    Accordingly, the notice of proposed rulemaking (REG-128843-05) that 
was the subject of FR Doc. E7-14850 is corrected as follows:


Sec.  26.2642-6  [Corrected]

    On page 42343, column 3, Sec.  26.2642-6(k)(1), lines 7 through 10, 
the language ``severances occurring on or after [DATE THIS DOCUMENT IS 
PUBLISHED IN THE Federal Register AS FINAL REGULATIONS]. Paragraph 
(d)(4) and'' is corrected to read ``severances occurring on or after 
August 2, 2007. Paragraph (d)(4) and''.

LaNita Van Dyke,
Branch Chief, Publications and Regulations Branch, Legal Processing 
Division, Associate Chief Counsel (Procedure and Administration).
[FR Doc. E7-16619 Filed 8-22-07; 8:45 am]
BILLING CODE 4830-01-P

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