Revised Regulations Concerning Section 403(b) Tax-Sheltered Annuity Contracts; Correction, 54350-54351 [E7-18808]

Download as PDF 54350 Federal Register / Vol. 72, No. 185 / Tuesday, September 25, 2007 / Rules and Regulations Final rule; correcting amendment. ACTION: This document contains a correction to the final rules that were published in the Federal Register on September 5, 2007 (72 FR 50871). The final rules amended our regulations to reflect two provisions of the Balanced Budget Act of 1997 that affect the payment of benefits under title XVI of the Social Security Act (the Act). One of the provisions extended temporary institutionalization benefits to children receiving SSI benefits who enter private medical treatment facilities and who otherwise would be ineligible for temporary institutionalization benefits because of private insurance coverage. The other provision replaced obsolete terminology in the Act that referred to particular kinds of medical facilities and substituted a broader, more descriptive term. DATES: Effective on October 5, 2007. FOR FURTHER INFORMATION CONTACT: Lois Berg, Social Insurance Specialist, Office of the Commissioner, Social Security Administration, 922 Altmeyer Building, 6401 Security Boulevard, Baltimore, MD 21235–6401, (410) 965–1713, for information about this notice. For information on eligibility or filing for benefits, call our national toll-free number, 1–800–772–1213 or TTY 1– 800–325–0778, or visit our Internet site, Social Security Online, at https:// www.socialsecurity.gov. SUPPLEMENTARY INFORMATION: The final rule published on September 5, 2007 and effective October 5, 2007 included changes in terminology in § 416.414(a)(1), (2) and (3). These changes were inadvertently removed from the final rule published on September 5, 2007. This correction now shows that the terminology should be changed in those three subordinate paragraphs. SUMMARY: Authority: Secs. 702(a)(5), 1611(a), (b), (c), and (e), 1612, 1617, and 1631 of the Social Security Act (42 U.S.C. 902(a)(5), 1382(a), (b), (c), and (e), 1382a, 1382f, and 1383). § 416.414 [Amended] 2. In § 416.414(a)(1), (2) and (3), remove the words ‘‘medical facility’’ and ‘‘medical care facility’’ wherever they appear and add in their place the words ‘‘medical treatment facility’’. I Dated: September 18, 2007. Paul Kryglik, Acting Social Security Regulations Officer. [FR Doc. E7–18815 Filed 9–24–07; 8:45 am] DEPARTMENT OF THE TREASURY Internal Revenue Service RIN 1545–AY22 Corporate Estimated Tax; Correction Internal Revenue Service (IRS), Treasury. ACTION: Correcting amendment. AGENCY: yshivers on PROD1PC62 with RULES * * (g) * * * (2) * * * * * Example. * * * For the first installment period in 2008, ABC is permitted to recognize a deduction under section 199 of $3,000 ($50,000 × .06 = $3,000) subject to the wage limitation of $5,000 (50 percent of $10,000 of W–2 wages incurred during the first installment period). * * * * * * * BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY SUMMARY: This document contains a correction to final regulations (TD 9347) that were published in the Federal Register on Tuesday, August 7, 2007 (72 FR 44338) providing guidance to corporations with respect to estimated tax requirements. DATES: The correction is effective September 25, 2007. FOR FURTHER INFORMATION CONTACT: Timothy Sheppard at (202) 622–4910 (not a toll-free number). SUPPLEMENTARY INFORMATION: Internal Revenue Service Background SUMMARY: This document contains corrections to final regulations (TD 9340) that were published in the Federal Register on Thursday, July 26, 2007 (72 FR 41128) providing updated guidance on section 403(b) contracts of public schools and tax-exempt organizations described in section 501(c)(3). These regulations will affect sponsors of section 403(b) contracts, administrators, participants, and beneficiaries. DATES: The correction is effective September 25, 2007. FOR FURTHER INFORMATION CONTACT: Concerning the regulations, John Tolleris at (202) 622–6060; concerning the regulations as applied to churchrelated entities, Robert Architect at (202) 283–9634 (not toll-free numbers). As published, final regulations (TD 9347) contain an error that may prove to be misleading and is in need of clarification. List of Subjects in 26 CFR Part 1 Correction of Publication Accordingly, 26 CFR part 1 is corrected by making the following amendments: I Jkt 211001 * Annualized income installment LaNita Van Dyke, Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration). [FR Doc. E7–18807 Filed 9–24–07; 8:45 am] Income taxes, Reporting and recordkeeping requirements. 15:17 Sep 24, 2007 § 1.6655–2 method. [TD 9347] PART 416—SUPPLEMENTAL SECURITY INCOME FOR THE AGED, BLIND, AND DISABLED VerDate Aug<31>2005 I Par. 2. Section 1.6655–2 is amended by revising the fifth sentence of paragraph (g)(2) Example. to read as follows: * Need for Correction 1. The authority citation for subpart D of part 416 continues to read as follows: Authority: 26 U.S.C. 7805 * * * 26 CFR Part 1 The final regulations that are the subject of this correction are under sections 6425 and 6655 of the Internal Revenue Code. I Paragraph 1. The authority citation for part 1 continues to read, in part, as follows: BILLING CODE 4191–02–P List of Subjects in 20 CFR Part 416 Administrative practice and procedure, Aged, Blind, Disability benefits, Public assistance programs, Reporting and recordkeeping requirements, Supplemental Security Income (SSI). I Accordingly, 20 CFR part 416 is corrected by making the following correcting amendment: Subpart D—[Amended] PART 1—INCOME TAXES I PO 00000 Frm 00010 Fmt 4700 Sfmt 4700 26 CFR Part 1 [TD 9340] RIN 1545–BB64 Revised Regulations Concerning Section 403(b) Tax-Sheltered Annuity Contracts; Correction Internal Revenue Service (IRS), Treasury. ACTION: Correction to final regulations. AGENCY: E:\FR\FM\25SER1.SGM 25SER1 Federal Register / Vol. 72, No. 185 / Tuesday, September 25, 2007 / Rules and Regulations SUPPLEMENTARY INFORMATION: Background Background The final regulations that are the subject of this correction are under section 403(b) of the Internal Revenue Code. The final regulations that are the subject of this correction are under sections 6425 and 6655 of the Internal Revenue Code. Need for Correction As published, final regulations (TD 9340) contain errors that may prove to be misleading and are in need of clarification. As published, final regulations (TD 9347) contain an error that may prove to be misleading and is in need of clarification. Correction of Publication Accordingly, the publication of the final regulations (TD 9340), which was the subject of FR Doc. 07–3649, is corrected as follows: 1. On page 41132, column 3, in the preamble, under footnote number 4, second line, the language ‘‘402(g)(7)(A)(ii) by section 407(a) the Gulf’’ is corrected to read ‘‘402(g)(7)(A)(ii) by section 407(a) of the Gulf’’. 2. On page 41138, column 1, in the preamble, under the paragraph heading ‘‘Employment Taxes’’, eighth line of the last paragraph of the column, the language ‘‘l, Q&A–15, and § 35.3405(c)– 1, Q&A–11’’ is corrected to read ‘‘1, Q&A–15, and § 35.3405(c)–1, Q&A–11’’. Accordingly, the publication of the final regulations (TD 9347), which was the subject of FR Doc. E7–14946, is corrected as follows: On page 44347, column 1, in the preamble, under the paragraph heading ‘‘Effect on Other Documents’’, line 10 from the bottom of the first paragraph of the column, the language ‘‘rational underlying the conclusion in’’ is corrected to read ‘‘rationale underlying the conclusion in’’. Need for Correction Correction of Publication LaNita Van Dyke, Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration). [FR Doc. E7–18808 Filed 9–24–07; 8:45 am] LaNita Van Dyke, Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel, Procedure and Administration. [FR Doc. E7–18812 Filed 9–24–07; 8:45 am] related entities, Robert Architect at (202) 283–9634 (not toll-free numbers). SUPPLEMENTARY INFORMATION: Background The final regulations that are the subject of this correction are under section 403(b) of the Internal Revenue Code. Need for Correction As published, final regulations (TD 9340) contain errors that may prove to be misleading and are in need of clarification. List of Subjects 26 CFR Part 1 Income taxes, Reporting and recordkeeping requirements. 26 CFR Part 54 Excise taxes, Pensions, Reporting and recording requirements. 26 CFR Part 602 Reporting and recordkeeping requirements. Correction of Publication BILLING CODE 4830–01–P Accordingly, 26 CFR parts 1, 54, and 602 are corrected by making the following correcting amendments: DEPARTMENT OF THE TREASURY PART 1—INCOME TAXES Internal Revenue Service I I Paragraph 1. The authority citation for part 1 continues to read, in part, as follows: 26 CFR Parts 1, 54, and 602 BILLING CODE 4830–01–P Authority: 26 U.S.C. 7805 * * * [TD 9340] RIN 1545–BB64 DEPARTMENT OF THE TREASURY Revised Regulations Concerning Section 403(b) Tax-Sheltered Annuity Contracts; Correction Internal Revenue Service 26 CFR Part 1 Internal Revenue Service (IRS), Treasury. ACTION: Correcting amendments. AGENCY: [TD 9347] RIN 1545–AY22 Corporate Estimated Tax; Correction Internal Revenue Service (IRS), Treasury. ACTION: Correction to final regulations. yshivers on PROD1PC62 with RULES AGENCY: SUMMARY: This document contains a correction to final regulations (TD 9347) that were published in the Federal Register on Tuesday, August 7, 2007 (72 FR 44338) providing guidance to corporations with respect to estimated tax requirements. DATES: The correction is effective September 25, 2007. FOR FURTHER INFORMATION CONTACT: Timothy Sheppard at (202) 622–4910 (not a toll-free number). SUPPLEMENTARY INFORMATION: VerDate Aug<31>2005 15:17 Sep 24, 2007 Jkt 211001 54351 SUMMARY: This document contains corrections to final regulations (TD 9340) that were published in the Federal Register on Thursday, July 26, 2007 (72 FR 41128) providing updated guidance on section 403(b) contracts of public schools and tax-exempt organizations described in section 501(c)(3). These regulations will affect sponsors of section 403(b) contracts, administrators, participants, and beneficiaries. The correction is effective September 25, 2007. DATES: FOR FURTHER INFORMATION CONTACT: Concerning the regulations, John Tolleris at (202) 622–6060; concerning the regulations as applied to church- PO 00000 Frm 00011 Fmt 4700 Sfmt 4700 I Par. 2. Section 1.403(b)–2 is amended by revising paragraph (b)(8)(i)(A), paragraph (b)(9), second sentence, and paragraph (b)(11), fourth sentence, to read as follows: § 1.403(b)–2 * Definitions. * * * * (b) * * * (8) * * * (i) * * * (A) A State, but only with respect to an employee of the State performing services for a public school; * * * * * (9) * * * Subject to any rules in § 1.403(b)–1, this section, and §§ 1.403(b)–3 through 1.403(b)–11 that are specifically applicable to ministers, an employee also includes a minister described in section 414(e)(5)(A) when performing services in the exercise of his or her ministry. * * * * * (11) * * * Includible compensation also includes any elective deferral or other amount contributed or deferred by the eligible employer at the election of E:\FR\FM\25SER1.SGM 25SER1

Agencies

[Federal Register Volume 72, Number 185 (Tuesday, September 25, 2007)]
[Rules and Regulations]
[Pages 54350-54351]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-18808]


-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9340]
RIN 1545-BB64


Revised Regulations Concerning Section 403(b) Tax-Sheltered 
Annuity Contracts; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to final regulations.

-----------------------------------------------------------------------

SUMMARY: This document contains corrections to final regulations (TD 
9340) that were published in the Federal Register on Thursday, July 26, 
2007 (72 FR 41128) providing updated guidance on section 403(b) 
contracts of public schools and tax-exempt organizations described in 
section 501(c)(3). These regulations will affect sponsors of section 
403(b) contracts, administrators, participants, and beneficiaries.

DATES: The correction is effective September 25, 2007.

FOR FURTHER INFORMATION CONTACT: Concerning the regulations, John 
Tolleris at (202) 622-6060; concerning the regulations as applied to 
church-related entities, Robert Architect at (202) 283-9634 (not toll-
free numbers).

[[Page 54351]]


SUPPLEMENTARY INFORMATION:

Background

    The final regulations that are the subject of this correction are 
under section 403(b) of the Internal Revenue Code.

Need for Correction

    As published, final regulations (TD 9340) contain errors that may 
prove to be misleading and are in need of clarification.

Correction of Publication

    Accordingly, the publication of the final regulations (TD 9340), 
which was the subject of FR Doc. 07-3649, is corrected as follows:
    1. On page 41132, column 3, in the preamble, under footnote number 
4, second line, the language ``402(g)(7)(A)(ii) by section 407(a) the 
Gulf'' is corrected to read ``402(g)(7)(A)(ii) by section 407(a) of the 
Gulf''.
    2. On page 41138, column 1, in the preamble, under the paragraph 
heading ``Employment Taxes'', eighth line of the last paragraph of the 
column, the language ``l, Q&A-15, and Sec.  35.3405(c)-1, Q&A-11'' is 
corrected to read ``1, Q&A-15, and Sec.  35.3405(c)-1, Q&A-11''.

LaNita Van Dyke,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel (Procedure and Administration).
[FR Doc. E7-18808 Filed 9-24-07; 8:45 am]
BILLING CODE 4830-01-P

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.