Public Inspection of Material Relating to Tax-Exempt Organizations; Correction, 54618-54619 [E7-18990]
Download as PDF
<![CDATA[
rmajette on PROD1PC64 with PROPOSALS
54618
Federal Register / Vol. 72, No. 186 / Wednesday, September 26, 2007 / Proposed Rules
is a reportable transaction for A under
paragraph (b)(7) of this section because A has
the right to payment for another person’s use
of the tax planning method that is the subject
of the patent. The transaction is a reportable
transaction for C under paragraph (b)(7) of
this section, because C paid a fee to A for the
legal right to use a tax planning method that
C knew or had reason to know was the
subject of a patent. A has participated in the
transaction in the year in which A’s tax
return reflects a tax benefit in relation to
obtaining the patent or reflects income from
C’s payment to A for the legal right to use
the tax planning method that is the subject
of the patent. C has participated in the
transaction in the year in which C’s tax
return reflects the deduction for any amount
paid to A for the legal right to use the tax
planning method that is the subject of the
patent. C also participates in the transaction
for any years for which any other tax benefit
from the transaction is reflected on C’s tax
return.
Example 5. (i) A, an individual, is the
employee of B, a corporation. A creates a tax
planning method and applies for a U.S.
patent but B pays the fee required under title
35 of the United States Code for A’s patent
application. Pursuant to A’s employment
contract with B, B holds all substantial rights
to the patent. B’s tax return reflects a
deduction for the amount paid in relation to
obtaining the patent.
(ii) A and B are patent holders under
paragraph (b)(7)(ii)(C)(1) and (3) of this
section, respectively. The transaction is not
a reportable transaction for A under
paragraph (b)(7) of this section because A
does not have the right to payment for
another person’s use of the tax planning
method that is the subject of the patent. The
transaction is a reportable transaction for B
under paragraph (b)(7) of this section because
B holds all substantial rights to the patent
and has the right to payment for another
person’s use of the tax planning method that
is the subject of the patent. B has participated
in the transaction in the year in which B’s
tax return reflects a tax benefit in relation to
obtaining the patent. B also participates in
the transaction for any years for which B’s
tax return reflects income from a payment
received from another person for the use of
the tax planning method that is the subject
of the patent.
Example 6. (i) Assume the facts as in
Example 4, except that A agrees to license
the patent to F, a financial institution. The
license agreement between A and F provides
that F may offer the tax planning method to
its clients and if a client decides to use the
tax planning method, F must pay A for each
client’s use of the tax planning method. F
offers the tax planning method to G who uses
the tax planning method and knows or has
reason to know it is the subject of a patent.
F charges G for financial planning services
and pays A for G’s use of the tax planning
method. A’s tax return reflects income from
the payment received from F. F’s tax return
reflects income from the payment received
from G, and G’s tax return reflects a
deduction for the fees paid to F.
(ii) F is a patent holder’s agent under
paragraph (b)(7)(ii)(D) of this section because
VerDate Aug<31>2005
15:45 Sep 25, 2007
Jkt 211001
F has the permission of the patent holder to
offer for sale or exchange, to sell or exchange,
or to market a tax planning method that is
the subject of a patent. F also is a patent
holder’s agent under paragraph (b)(7)(ii)(D) of
this section because F receives (directly or
indirectly) a fee in any amount for a tax
planning method that is the subject of a
patent for or on behalf of a patent holder. The
transaction is a reportable transaction for
both A and F under paragraph (b)(7) of this
section because A and F each have the right
to payment for another person’s use of the tax
planning method that is the subject of the
patent. The transaction is a reportable
transaction for G under paragraph (b)(7) of
this section because G paid a fee (directly or
indirectly) to a patent holder or a patent
holder’s agent for the legal right to use a tax
planning method that G knew or had reason
to know was the subject of the patent. A has
participated in the transaction in the years in
which A’s tax return reflects income from the
payment received from F for G’s use of the
tax planning method that is the subject of the
patent. F has participated in the transaction
in the years in which F’s tax return reflects
income from the payment received from G for
use of the tax planning method that is the
subject of the patent. G has participated in
the transaction in the years in which G’s tax
return reflects a deduction for the fees paid
to F. G also participates in the transaction for
any years for which any other tax benefit
from the transaction is reflected on G’s tax
return.
Example 7. Assume the same facts as in
Example 4. J uses a tax planning method that
is the same as the tax planning method that
is the subject of A’s patent. J does not pay
any fees to any patent holder or patent
holder’s agent with respect to the tax
planning method that is the subject of the
patent. A sues J for infringement of the patent
and J pays A an amount for damages. A’s tax
return reflects as income the amounts for
damages received from J. The transaction is
not a reportable transaction for J under
paragraph (b)(7) of this section because J did
not pay any fees (as defined in paragraph
(b)(7)(ii)(A) of this section) (directly or
indirectly) to a patent holder or patent
holder’s agent for the legal right to use a tax
planning method that J knew or had reason
to know was the subject of the patent. A has
participated in a reportable transaction under
paragraph (b)(7) of this section in the year in
which A’s tax return reflects income from a
payment (the amount received as an award
for damages in a suit for damages for
infringement of the patent) received from
another person for the use of the tax planning
method that is the subject of a patent.
*
*
*
*
*
(h) * * *
(2) Patented transactions. Upon the
publication of the Treasury decision
adopting these rules as final regulations
in the Federal Register, paragraphs
(b)(7), (c)(3)(i)(F), and (c)(3)(ii)
Examples 4 through 7 of this section
will apply to transactions entered into
on or after September 26, 2007.
PO 00000
Frm 00013
Fmt 4702
Sfmt 4702
PART 301—PROCEDURE AND
ADMINISTRATION
Par. 3. The authority citation for part
301 continues to read, in part, as
follows:
Authority: 26 U.S.C. 7805 * * *
Par. 4. Section 301.6111–3 is
amended by revising paragraphs
(b)(2)(ii)(E), (b)(3)(i)(C), and (i)(2) to read
as follows:
§ 301.6111–3 Disclosures of reportable
transactions.
*
*
*
*
*
(b) * * *
(2) * * *
(ii) * * *
(E) Patented transactions. A statement
relates to a tax aspect of a transaction
that causes it to be a patented
transaction if the statement is made or
provided by the patent holder or by the
patent holder’s agent, as defined in
§ 1.6011–4(b)(7)(ii)(C) or (D) of this
chapter, and concerns the tax planning
method that is the subject of the patent.
*
*
*
*
*
(3) * * *
(i) * * *
(C) Patented transactions. For
patented transactions described in
§ 1.6011–4(b)(7) of this chapter, the
threshold amounts in § 301.6111–
3(b)(3)(i)(A) are reduced from $50,000 to
$250 and from $250,000 to $500.
*
*
*
*
*
(i) * * *
(2) Patented transactions. Upon the
publication of the Treasury decision
adopting these rules as final regulations
in the Federal Register, paragraphs
(b)(2)(ii)(E) and (b)(3)(i)(C) of this
section will apply to transactions with
respect to which a material advisor
makes a tax statement on or after
September 26, 2007.
Linda E. Stiff,
Deputy Commissioner for Services and
Enforcement.
[FR Doc. E7–18934 Filed 9–25–07; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 301
[REG–116215–07]
RIN–1545–BG60
Public Inspection of Material Relating
to Tax-Exempt Organizations;
Correction
Internal Revenue Service,
Treasury.
AGENCY:
E:\FR\FM\26SEP1.SGM
26SEP1
Federal Register / Vol. 72, No. 186 / Wednesday, September 26, 2007 / Proposed Rules
Correction to notice of proposed
rulemaking.
ACTION:
SUMMARY: This document contains
corrections to proposed regulations that
amend existing regulations issued under
sections 6104 and 6110. These
regulations clarify rules relating to
information that is made available by
the IRS for public inspection under
section 6104(a) and materials that are
made publicly available under section
6110.
FOR FURTHER INFORMATION CONTACT:
Mary Ellen Keys, (202) 622–4570 (not a
toll-free number).
SUPPLEMENTARY INFORMATION:
Background
The notice of proposed rulemaking
(REG–116215–07) that is the subject of
these corrections are under sections
6110 and 6104(a) of the Internal
Revenue Code.
rmajette on PROD1PC64 with PROPOSALS
Need for Correction
As published, this notice of proposed
rulemaking (REG–116215–07) contains
errors that may prove to be misleading
and are in need of clarification.
Correction of Publication
Accordingly, the notice of proposed
rulemaking (REG–116215–07) that was
the subject of FR. Doc. E7–15952 is
corrected as follows:
1. On page 45394, column 2, in the
preamble, under the caption heading
‘‘SUMMARY:’’, line 11 from the bottom of
the paragraph, the language ‘‘denied or
revoked an organization’s tax’’ is
corrected to read ‘‘denied or revoked an
organization’s tax-’’.
2. On page 45394, column 2, in the
preamble, under the caption heading
‘‘ADDRESSES:’’, line 2 from the bottom of
the column, the language ‘‘NW.,
Washington, DC, or sent’’ is corrected to
read ‘‘NW., Washington, DC 20224, or
sent’’.
3. On page 45394, column 3, in the
preamble, under the paragraph heading
‘‘Background’’, paragraph 2, line 7, the
language ‘‘tax exempt status from the
public’’ is corrected to read ‘‘tax-exempt
status from the public’’.
4. On page 45395, column 1, in the
preamble, line 7 from the bottom of the
first paragraph of the column, the
language ‘‘public. See AOD 2004–02,
2004–29 IRB is corrected to read ‘‘See
AOD 2004–2, 2004–29 I.R.B.’’.
5. On page 45395, column 1, in the
preamble, under the paragraph heading
‘‘Explanation of Provisions’’, line 4 from
the bottom of paragraph 1, the language
‘‘sections 509(a), 4942(j)(3), or 4943(f), is
corrected to read ‘‘section 509(a),
4942(j)(3), or 4943(f),’’.
VerDate Aug<31>2005
15:45 Sep 25, 2007
Jkt 211001
6. On page 45395, column 2, in the
preamble, under the paragraph heading
‘‘Other Changes to the Existing
Regulations’’, paragraph 6, line 3, the
language ‘‘disclose, in response to or
anticipation’’ is corrected to read ‘‘in
response to or in anticipation’’.
7. On page 45395, column 2, in the
preamble, under the paragraph heading
‘‘Other Changes to the Existing
Regulations’’, paragraph 7, line 5 from
the bottom of the column, the language
‘‘organizations whose tax exempt
status’’ is corrected to read
‘‘organizations whose tax-exempt
status’’.
§ 301.6104(a)–1
[Corrected]
8. On page 45396, column 2,
§ 301.6104(a)–1(c)(4), line 4, the
language ‘‘organization described in
sections’’ is corrected to read
‘‘organization described in section’’.
9. On page 45396, column 3,
§ 301.6104(a)–1(c)(2), line 4 from the
bottom of the paragraph, the language
‘‘Procedure 2007–52, 2007–30 IRB 222,
is corrected to read ‘‘Procedure 2007–
52, 2007–30 I.R.B. 222,’’.
10. On page 45396, column 3,
§ 301.6104(a)–1(e)(3), line 4 from the
bottom of the paragraph, the language
‘‘Procedure 80–27, 1980–1CB 677, and’’
is corrected to read ‘‘Procedure 80–27,
1980–1 C.B. 677, and’’.
La Nita Van Dyke,
Branch Chief, Publications and Regulations
Branch, Legal Processing Division, Associate
Chief Counsel (Procedure and
Administration).
[FR Doc. E7–18990 Filed 9–25–07; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF LABOR
Occupational Safety and Health
Administration
29 CFR Part 1910
Occupational Exposure to Diacetyl and
Food Flavorings Containing Diacetyl:
Announcement of Stakeholder Meeting
Occupational Safety and Health
Administration, Labor.
ACTION: Announcement of stakeholder
meeting.
AGENCY:
SUMMARY: The Occupational Safety and
Health Administration (OSHA) invites
interested parties to participate in or
observe an informal stakeholder meeting
on Occupational Exposure to Diacetyl
and Food Flavorings Containing
Diacetyl. This meeting is a continuation
of OSHA’s information collection efforts
PO 00000
Frm 00014
Fmt 4702
Sfmt 4702
54619
on Diacetyl and Food Flavorings
Containing Diacetyl.
DATES: Stakeholder meeting: The
stakeholder meeting date is October 17,
2007, from 8:30 a.m.–4:30 p.m.
If more than 50 stakeholders register
for the stakeholder meeting on October
17, 2007, a second meeting will be
scheduled for October 18, 2007, from
8:30 a.m. to 4:30 p.m. If the second
meeting is needed on October 18, it will
follow the same format and
requirements as the first meeting and
will be held at the same location.
OSHA’s Contractor, Eastern Research
Group (ERG), will communicate with
stakeholders by telephone or e-mail if a
second meeting is scheduled.
Notice of intention to attend the
stakeholder meeting: You must submit a
notice of intention to attend (i.e., to
participate or observe) the stakeholder
meeting by October 10, 2007.
ADDRESSES: Stakeholder meeting: The
location for the stakeholder meeting is:
Crown Plaza Hotel Washington National
Airport, 1480 Crystal Drive, Arlington,
Virginia 22202.
Notices of intention to attend the
stakeholder meeting: OSHA’s
contractor, ERG, is coordinating the
registration, hotel arrangements, and
logistics for the meeting. Seating is
limited and pre-registration is required.
Please include in your notice of
intention to attend (i.e., to participate or
observe) your full name, affiliation,
address, telephone, and e-mail address.
You may submit your notice of
intention to attend the stakeholder
meeting by October 10, 2007 by any of
the following methods:
Electronic: OSHA encourages you to
submit your notice of intention to attend
to meetings@erg.com (subject line:
Diacetyl Meeting).
Facsimile: You may fax your notice of
intention to attend to 781–674–2906.
Telephone: You may register by
phone by calling Eastern Research
Group, Inc. at 781–674–7374.
Regular mail, express delivery, hand
delivery, messenger and courier service:
Submit your notice of intention to
attend to Laurie Stamatatos, Eastern
Research Group, Inc., 110 Hartwell
Avenue, Lexington, MA 02421–3136.
Instructions: For further information
on the stakeholder meeting and
submitting notices of intention to attend
(i.e., to participate or observe) the
stakeholder meeting, see the ‘‘Public
Participation’’ heading in the
SUPPLEMENTARY INFORMATION section of
this notice.
This document, non-attributed notes
from the stakeholder meeting, as well as
news releases and other relevant
E:\FR\FM\26SEP1.SGM
26SEP1
]]>Agencies
[Federal Register Volume 72, Number 186 (Wednesday, September 26, 2007)]
[Proposed Rules]
[Pages 54618-54619]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-18990]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 301
[REG-116215-07]
RIN-1545-BG60
Public Inspection of Material Relating to Tax-Exempt
Organizations; Correction
AGENCY: Internal Revenue Service, Treasury.
[[Page 54619]]
ACTION: Correction to notice of proposed rulemaking.
-----------------------------------------------------------------------
SUMMARY: This document contains corrections to proposed regulations
that amend existing regulations issued under sections 6104 and 6110.
These regulations clarify rules relating to information that is made
available by the IRS for public inspection under section 6104(a) and
materials that are made publicly available under section 6110.
FOR FURTHER INFORMATION CONTACT: Mary Ellen Keys, (202) 622-4570 (not a
toll-free number).
SUPPLEMENTARY INFORMATION:
Background
The notice of proposed rulemaking (REG-116215-07) that is the
subject of these corrections are under sections 6110 and 6104(a) of the
Internal Revenue Code.
Need for Correction
As published, this notice of proposed rulemaking (REG-116215-07)
contains errors that may prove to be misleading and are in need of
clarification.
Correction of Publication
Accordingly, the notice of proposed rulemaking (REG-116215-07) that
was the subject of FR. Doc. E7-15952 is corrected as follows:
1. On page 45394, column 2, in the preamble, under the caption
heading ``SUMMARY:'', line 11 from the bottom of the paragraph, the
language ``denied or revoked an organization's tax'' is corrected to
read ``denied or revoked an organization's tax-''.
2. On page 45394, column 2, in the preamble, under the caption
heading ``ADDRESSES:'', line 2 from the bottom of the column, the
language ``NW., Washington, DC, or sent'' is corrected to read ``NW.,
Washington, DC 20224, or sent''.
3. On page 45394, column 3, in the preamble, under the paragraph
heading ``Background'', paragraph 2, line 7, the language ``tax exempt
status from the public'' is corrected to read ``tax-exempt status from
the public''.
4. On page 45395, column 1, in the preamble, line 7 from the bottom
of the first paragraph of the column, the language ``public. See AOD
2004-02, 2004-29 IRB is corrected to read ``See AOD 2004-2, 2004-29
I.R.B.''.
5. On page 45395, column 1, in the preamble, under the paragraph
heading ``Explanation of Provisions'', line 4 from the bottom of
paragraph 1, the language ``sections 509(a), 4942(j)(3), or 4943(f), is
corrected to read ``section 509(a), 4942(j)(3), or 4943(f),''.
6. On page 45395, column 2, in the preamble, under the paragraph
heading ``Other Changes to the Existing Regulations'', paragraph 6,
line 3, the language ``disclose, in response to or anticipation'' is
corrected to read ``in response to or in anticipation''.
7. On page 45395, column 2, in the preamble, under the paragraph
heading ``Other Changes to the Existing Regulations'', paragraph 7,
line 5 from the bottom of the column, the language ``organizations
whose tax exempt status'' is corrected to read ``organizations whose
tax-exempt status''.
Sec. 301.6104(a)-1 [Corrected]
8. On page 45396, column 2, Sec. 301.6104(a)-1(c)(4), line 4, the
language ``organization described in sections'' is corrected to read
``organization described in section''.
9. On page 45396, column 3, Sec. 301.6104(a)-1(c)(2), line 4 from
the bottom of the paragraph, the language ``Procedure 2007-52, 2007-30
IRB 222, is corrected to read ``Procedure 2007-52, 2007-30 I.R.B.
222,''.
10. On page 45396, column 3, Sec. 301.6104(a)-1(e)(3), line 4 from
the bottom of the paragraph, the language ``Procedure 80-27, 1980-1CB
677, and'' is corrected to read ``Procedure 80-27, 1980-1 C.B. 677,
and''.
La Nita Van Dyke,
Branch Chief, Publications and Regulations Branch, Legal Processing
Division, Associate Chief Counsel (Procedure and Administration).
[FR Doc. E7-18990 Filed 9-25-07; 8:45 am]
BILLING CODE 4830-01-P
