Guidance Regarding Deduction and Capitalization of Expenditures Related to Tangible Property; Correction, 19450-19451 [E8-7515]
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19450
§ 50.54
Federal Register / Vol. 73, No. 70 / Thursday, April 10, 2008 / Proposed Rules
Conditions of licenses.
*
*
*
*
*
(hh)(1) Each licensee shall develop,
maintain and implement procedures
that describe how the licensee will
address the following areas if the
licensee is notified of a potential aircraft
threat:
(i) Verification of the authenticity of
threat notifications;
(ii) Maintenance of continuous
communication with applicable entities;
(iii) Notifications to all onsite
personnel and applicable offsite
response organizations;
(iv) Onsite protective actions to
enhance the capability of the facility to
mitigate the consequences of an aircraft
impact;
(v) Measures to reduce visual
discrimination of the site relative to its
surroundings or individual buildings
within the protected area;
(vi) Pre-staging and dispersal of
equipment and personnel, as well as
rapid reentry of onsite personnel and
offsite responders into site protected
areas; and
(vii) Recall of site personnel.
(2) Each licensee shall develop and
implement guidance and strategies
intended to maintain or restore core
cooling, containment, and spent fuel
pool cooling capabilities under the
circumstances associated with loss of
large areas of the plant due to
explosions or fire, to include strategies
in the following areas:
(i) Fire fighting;
(ii) Operations to mitigate fuel
damage; and
(iii) Actions to minimize radiological
release.
Dated at Rockville, Maryland, this 2nd day
of April 2008.
For the Nuclear Regulatory Commission.
Martin J. Virgilio,
Acting Executive Director for Operations.
[FR Doc. E8–7582 Filed 4–9–08; 8:45 am]
BILLING CODE 7590–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[REG–168745–03]
sroberts on PROD1PC70 with PROPOSALS
RIN 1545–BE18
Guidance Regarding Deduction and
Capitalization of Expenditures Related
to Tangible Property; Correction
Internal Revenue Service (IRS),
Treasury.
ACTION: Correction to a notice of
proposed rulemaking.
AGENCY:
VerDate Aug<31>2005
16:39 Apr 09, 2008
Jkt 214001
SUMMARY: This document contains
corrections to a notice of proposed
rulemaking (REG–168745–03) that was
published in the Federal Register on
Monday, March 10, 2008 (73 FR 12838)
explaining how section 263(a) of the
Internal Revenue Code applies to
amounts paid to acquire, produce, or
improve tangible property. The
proposed regulations clarify and expand
the standards in the current regulations
under section 263(a), as well as provide
some bright-line tests (for example, a de
minimis rule for acquisitions). The
proposed regulations will affect all
taxpayers that acquire, produce, or
improve tangible property.
FOR FURTHER INFORMATION CONTACT:
Merrill D. Feldstein or Mon L. Lam,
(202) 622–4950 (not a toll-free number).
SUPPLEMENTARY INFORMATION:
Background
The correction notice that is the
subject of this document is under
sections 162 and 263(a) of the Internal
Revenue Code.
Need for Correction
As published, a notice of proposed
rulemaking (REG–168745–03) contains
errors that may prove to be misleading
and are in need of clarification.
Correction of Publication
Accordingly, the publication of a
notice of proposed rulemaking (REG–
168745–03), which was the subject of
FR Doc. E8–4466, is corrected as
follows:
1. On page 12838, column 2, in the
preamble, under the paragraph heading
‘‘I. Overview’’, line 9 from the bottom of
the column, the language ‘‘to the rules
relating to unit of property,’’ is corrected
to read ‘‘to the rules relating to unit of
property and’’.
2. On page 12839, column 1, in the
preamble, under the paragraph heading
‘‘III. Materials and Supplies under
§ 1.162–3’’, line 2 from the bottom of the
column, the language ‘‘material and
supplies regulations, the’’ is corrected to
read ‘‘materials and supplies
regulations, the’’.
3. On page 12839, column 2, in the
preamble, under the paragraph heading
‘‘III. Materials and Supplies under
§ 1.162–3’’, first paragraph, line 7, the
language ‘‘economic useful life of the
asset for’’ is corrected to read ‘‘economic
useful life of the asset for purposes of’’.
4. On page 12840, column 3, in the
preamble, under the paragraph heading
‘‘B. Transaction Costs’’, first paragraph,
line 7, the language ‘‘T.C. 106, 110
(1950), acq., 1951–1 CB 3.’’ is corrected
to read ‘‘T.C. 106, 110 (1950), acq.,
(1951–1 CB 3).’’.
PO 00000
Frm 00008
Fmt 4702
Sfmt 4702
5. On page 12841, column 2, in the
preamble, under the paragraph heading
‘‘C. De Minimis Rule’’, line 18 from the
bottom of the column, the language ‘‘is
provided in § 1.263A–1(b)(14) of the’’ is
corrected to read ‘‘is provided in
§ 1.263A–1(b)(14) of’’.
6. On page 12842, column 1, in the
preamble, under the paragraph heading
‘‘VIII. Improvements’’, sixth paragraph
of the column, the language ‘‘(ii) Adapt
a unit of property to a new or different
use.’’ is corrected to read ‘‘(iii) Adapt a
unit of property to a new or different
use.’’.
7. On page 12842, column 2, in the
preamble, under the paragraph heading
‘‘VIII. Improvements’’, first paragraph of
the column, line 3, the language
‘‘263A(b), which states that section
263A’’ is corrected to read ‘‘263A(b)(1),
which states that section 263A’’.
8. On page 12842, column 3, in the
preamble, under the paragraph heading
‘‘A. Unit of Property’’, second paragraph
of the column, lines 9 through 10, the
language ‘‘used in certain regulated
industries; network assets were
excluded from the’’ is corrected to read
‘‘used in certain regulated industries.
Network assets were excluded from
the’’.
§ 1.162–3
[Corrected]
9. On page 12848, column 2, § 1.162–
3(c), line 9, the language ‘‘sections. For
example, see section’’ is corrected to
read ‘‘sections. For example, see’’.
10. On page 12848, column 2,
§ 1.162–3(d)(1)(i), last line, the language
‘‘unit of property; or’’ is corrected to
read ‘‘unit of property;’’.
11. On page 12848, column 2,
§ 1.162–3(d)(1)(ii), last line, the
language ‘‘taxpayer’s operations; or’’ is
corrected to read ‘‘taxpayer’s
operations;’’.
§ 1.263(a)–0
[Corrected]
12. On page 12851, column 1,
§ 1.263(a)–3(g)(2)(i)(A), the language
‘‘(1) Like-new condition.’’ is corrected to
read ‘‘(A) Like-new condition.’’.
13. On page 12851, column 1,
§ 1.263(a)–3(g)(2)(i)(B), the language ‘‘(2)
Economic useful life.’’ is corrected to
read ‘‘(B) Economic useful life.’’.
§ 1.263(a)–2
[Corrected]
14. On page 12855, column 2,
§ 1.263(a)–2(d)(4)(vi), line 8, the
language ‘‘(including within paragraph
(d)(4)(iv)(B)’’ is corrected to read
‘‘(including within paragraph
(d)(4)(vi)(B)’’.
15. On page 12855, column 3,
§ 1.263(a)–2(d)(4)(vii) Example 3., line
12, the language ‘‘under § 1.162–3(a)(1)
and § 1.163–3(d)(1)(iii),’’ is corrected to
E:\FR\FM\10APP1.SGM
10APP1
Federal Register / Vol. 73, No. 70 / Thursday, April 10, 2008 / Proposed Rules
read ‘‘under § 1.162–3(a)(1) and § 1.162–
3(d)(1)(iii),’’.
16. On page 12855, column 3,
§ 1.263(a)–2(d)(4)(vii) Example 4., the
language ‘‘an election under § 1.162–
3(d) to capitalize’’ is corrected to read
‘‘an election under § 1.162–3(e) to
capitalize’’.
sroberts on PROD1PC70 with PROPOSALS
§ 1.263(a)–3
[Corrected]
17. On page 12856, column 3,
§ 1.263(a)–3(c)(1), line 4 from the
bottom of the paragraph, the language
‘‘of the production or resale activities,’’
is corrected to read ‘‘of production or
resale activities,’’.
18. On page 12858, column 2,
§ 1.263(a)–3(d)(2)(iv) Example 4., line 5,
the language ‘‘business. Within the
plant X utilizes an’’ is corrected to read
‘‘business. Within the plant, X utilizes
an’’.
19. On page 12860, column 1,
§ 1.263(a)–3(e)(5) Example 1. (i), line 10,
the language ‘‘replacement part. After
the ESVs the engines’’ is corrected to
read ‘‘ replacement part. After the ESVs,
the engines’’.
20. On page 12861, column 1,
§ 1.263(a)–3(e)(5) Example 7., lines 22
through 25, the language ‘‘costs.
Because the scheduled maintenance
involves recurring activities that X
expects to perform more than once
during the 18 year class life of the
towboat. This maintenance’’ is corrected
to read ‘‘costs. The scheduled
maintenance involves recurring
activities that X expects to perform more
than once during the 18 year class life
of the towboat. Because this
maintenance’’.
21. On page 12861, column 2,
§ 1.263(a)–3(e)(5) Example 9., line 9
from the bottom of the paragraph, the
language ‘‘ordinary efficient operating
condition if the’’ is corrected to read
‘‘ordinarily efficient operating condition
if the’’.
22. On page 12861, column 3,
§ 1.263(a)–3(f)(2)(i), line 13, the
language ‘‘financial statement (as
described in’’ is corrected to read
‘‘financial statement (as defined in’’.
23. On page 12862, column 1,
§ 1.263(a)–3(f)(3) Example 3. (i), lines 4
and 5, the language ‘‘for use its
manufacturing operations. Assume that
the machine is a unit of property and it’’
is corrected to read ‘‘for use in its
manufacturing operations. Assume that
the machine is a unit of property and’’.
24. On page 12862, column 3,
§ 1.263(a)–3(f)(3) Example 6. (i), line 1,
the language ‘‘Example 6. Not a
betterment. X owns a’’ is corrected to
read ‘‘Example 6. Not a betterment. (i)
X owns a’’.
VerDate Aug<31>2005
16:39 Apr 09, 2008
Jkt 214001
25. On page 12863, column 2,
§ 1.263(a)–3(f)(3) Example 8., line 2, the
language ‘‘quality of the plant or its
output of compared’’ is corrected to read
‘‘quality of the plant or its output
compared’’.
26. On page 12864, column 1,
§ 1.263(a)–3(g)(2)(i)(A), line 1, the
language ‘‘(1) Like-new condition. A
unit of’’ is corrected to read ‘‘(A) Likenew condition. A unit of’’.
27. On page 12864, column 1,
§ 1.263(a)–3(g)(2)(i)(B), line 1, the
language ‘‘(2) Economic useful life. The’’
is corrected to read ‘‘(B) Economic
useful life. The’’.
28. On page 12864, column 2,
§ 1.263(a)–3(g)(3)(i)(A), line 1, the
language ‘‘(1) A part or a combination of
parts’’ is corrected to read ‘‘(A) A part
or a combination of parts’’.
29. On page 12864, column 2,
§ 1.263(a)–3(g)(3)(i)(B), line 1, the
language ‘‘(2) A part or a combination of
parts’’ is corrected to read ‘‘(B) A part
or a combination of parts’’.
30. On page 12864, column 3,
§ 1.263(a)–3(g)(4) Example 2., line 4, the
language ‘‘for which it had property
taken into account’’ is corrected to read
‘‘for which it had properly taken into
account’’.
31. On page 12865, column 1,
§ 1.263(a)–3(g)(4) Example 6., first
paragraph of the column, line 4, the
language ‘‘rebuild, the freight car has
been restored to’’ is corrected to read
‘‘rebuild, the freight car has been
restored to a’’.
32. On page 12865, column 1,
§ 1.263(a)–3(g)(4) Example 6., line 11,
the language ‘‘paid restore the freight
car to like-new’’ is corrected to read
‘‘paid restore the freight car to a likenew’’.
33. On page 12865, column 1,
§ 1.263(a)–3(g)(4) Example 7., line 9, the
language ‘‘the freight car to like-new
condition after the’’ is corrected to read
‘‘the freight car to a like-new condition
after the’’.
LaNita Van Dyke,
Chief, Publications and Regulations Branch,
Legal Processing Division, Associate Chief
Counsel, (Procedure and Administration).
[FR Doc. E8–7515 Filed 4–9–08; 8:45 am]
BILLING CODE 4830–01–P
PO 00000
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[REG–151135–07]
RIN–1545–BH39
Multiemployer Plan Funding Guidance;
Correction
Internal Revenue Service (IRS),
Treasury.
AGENCY:
Correction to notice of proposed
rulemaking.
ACTION:
SUMMARY: This document corrects a
notice of proposed rulemaking (REG–
151135–07) that was published in the
Federal Register on Tuesday, March 18,
2008 (73 FR 14417), that provides
additional rules for certain
multiemployer defined benefit plans
that are in effect on July 16, 2006.
FOR FURTHER INFORMATION CONTACT:
Bruce Perlin, (202) 622–6090 (not a tollfree number).
SUPPLEMENTARY INFORMATION:
Background
The notice of proposed rulemaking
(REG–151135–07) that is the subject of
this correction is under section 432 of
the Internal Revenue Code.
Need for Correction
As published, REG–151135–07
contains an error that may prove to be
misleading and is in need of
clarification.
Correction of Publication
Accordingly, the publication of the
notice of proposed rulemaking (REG–
151135–07) that was the subject of FR
Doc. 08–1044, is corrected as follows:
On page 14420, column 3, in the
preamble, under the paragraph title
‘‘§ 1.432(a)–1 General Rules Relating to
Section 432’’, first paragraph, line 1, the
language ‘‘Section 1.432–1 provides
general’’ is corrected to read ‘‘Section
1.432(a)–1 provides general’’.
LaNita Van Dyke,
Chief, Publications and Regulations Branch,
Legal Processing Division, Associate Chief
Counsel (Procedure and Administration).
[FR Doc. E8–7558 Filed 4–9–08; 8:45 am]
BILLING CODE 4830–01–P
Frm 00009
Fmt 4702
Sfmt 4702
19451
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10APP1
]]>Agencies
[Federal Register Volume 73, Number 70 (Thursday, April 10, 2008)]
[Proposed Rules]
[Pages 19450-19451]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-7515]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[REG-168745-03]
RIN 1545-BE18
Guidance Regarding Deduction and Capitalization of Expenditures
Related to Tangible Property; Correction
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Correction to a notice of proposed rulemaking.
-----------------------------------------------------------------------
SUMMARY: This document contains corrections to a notice of proposed
rulemaking (REG-168745-03) that was published in the Federal Register
on Monday, March 10, 2008 (73 FR 12838) explaining how section 263(a)
of the Internal Revenue Code applies to amounts paid to acquire,
produce, or improve tangible property. The proposed regulations clarify
and expand the standards in the current regulations under section
263(a), as well as provide some bright-line tests (for example, a de
minimis rule for acquisitions). The proposed regulations will affect
all taxpayers that acquire, produce, or improve tangible property.
FOR FURTHER INFORMATION CONTACT: Merrill D. Feldstein or Mon L. Lam,
(202) 622-4950 (not a toll-free number).
SUPPLEMENTARY INFORMATION:
Background
The correction notice that is the subject of this document is under
sections 162 and 263(a) of the Internal Revenue Code.
Need for Correction
As published, a notice of proposed rulemaking (REG-168745-03)
contains errors that may prove to be misleading and are in need of
clarification.
Correction of Publication
Accordingly, the publication of a notice of proposed rulemaking
(REG-168745-03), which was the subject of FR Doc. E8-4466, is corrected
as follows:
1. On page 12838, column 2, in the preamble, under the paragraph
heading ``I. Overview'', line 9 from the bottom of the column, the
language ``to the rules relating to unit of property,'' is corrected to
read ``to the rules relating to unit of property and''.
2. On page 12839, column 1, in the preamble, under the paragraph
heading ``III. Materials and Supplies under Sec. 1.162-3'', line 2
from the bottom of the column, the language ``material and supplies
regulations, the'' is corrected to read ``materials and supplies
regulations, the''.
3. On page 12839, column 2, in the preamble, under the paragraph
heading ``III. Materials and Supplies under Sec. 1.162-3'', first
paragraph, line 7, the language ``economic useful life of the asset
for'' is corrected to read ``economic useful life of the asset for
purposes of''.
4. On page 12840, column 3, in the preamble, under the paragraph
heading ``B. Transaction Costs'', first paragraph, line 7, the language
``T.C. 106, 110 (1950), acq., 1951-1 CB 3.'' is corrected to read
``T.C. 106, 110 (1950), acq., (1951-1 CB 3).''.
5. On page 12841, column 2, in the preamble, under the paragraph
heading ``C. De Minimis Rule'', line 18 from the bottom of the column,
the language ``is provided in Sec. 1.263A-1(b)(14) of the'' is
corrected to read ``is provided in Sec. 1.263A-1(b)(14) of''.
6. On page 12842, column 1, in the preamble, under the paragraph
heading ``VIII. Improvements'', sixth paragraph of the column, the
language ``(ii) Adapt a unit of property to a new or different use.''
is corrected to read ``(iii) Adapt a unit of property to a new or
different use.''.
7. On page 12842, column 2, in the preamble, under the paragraph
heading ``VIII. Improvements'', first paragraph of the column, line 3,
the language ``263A(b), which states that section 263A'' is corrected
to read ``263A(b)(1), which states that section 263A''.
8. On page 12842, column 3, in the preamble, under the paragraph
heading ``A. Unit of Property'', second paragraph of the column, lines
9 through 10, the language ``used in certain regulated industries;
network assets were excluded from the'' is corrected to read ``used in
certain regulated industries. Network assets were excluded from the''.
Sec. 1.162-3 [Corrected]
9. On page 12848, column 2, Sec. 1.162-3(c), line 9, the language
``sections. For example, see section'' is corrected to read ``sections.
For example, see''.
10. On page 12848, column 2, Sec. 1.162-3(d)(1)(i), last line, the
language ``unit of property; or'' is corrected to read ``unit of
property;''.
11. On page 12848, column 2, Sec. 1.162-3(d)(1)(ii), last line,
the language ``taxpayer's operations; or'' is corrected to read
``taxpayer's operations;''.
Sec. 1.263(a)-0 [Corrected]
12. On page 12851, column 1, Sec. 1.263(a)-3(g)(2)(i)(A), the
language ``(1) Like-new condition.'' is corrected to read ``(A) Like-
new condition.''.
13. On page 12851, column 1, Sec. 1.263(a)-3(g)(2)(i)(B), the
language ``(2) Economic useful life.'' is corrected to read ``(B)
Economic useful life.''.
Sec. 1.263(a)-2 [Corrected]
14. On page 12855, column 2, Sec. 1.263(a)-2(d)(4)(vi), line 8,
the language ``(including within paragraph (d)(4)(iv)(B)'' is corrected
to read ``(including within paragraph (d)(4)(vi)(B)''.
15. On page 12855, column 3, Sec. 1.263(a)-2(d)(4)(vii) Example
3., line 12, the language ``under Sec. 1.162-3(a)(1) and Sec. 1.163-
3(d)(1)(iii),'' is corrected to
[[Page 19451]]
read ``under Sec. 1.162-3(a)(1) and Sec. 1.162-3(d)(1)(iii),''.
16. On page 12855, column 3, Sec. 1.263(a)-2(d)(4)(vii) Example
4., the language ``an election under Sec. 1.162-3(d) to capitalize''
is corrected to read ``an election under Sec. 1.162-3(e) to
capitalize''.
Sec. 1.263(a)-3 [Corrected]
17. On page 12856, column 3, Sec. 1.263(a)-3(c)(1), line 4 from
the bottom of the paragraph, the language ``of the production or resale
activities,'' is corrected to read ``of production or resale
activities,''.
18. On page 12858, column 2, Sec. 1.263(a)-3(d)(2)(iv) Example 4.,
line 5, the language ``business. Within the plant X utilizes an'' is
corrected to read ``business. Within the plant, X utilizes an''.
19. On page 12860, column 1, Sec. 1.263(a)-3(e)(5) Example 1. (i),
line 10, the language ``replacement part. After the ESVs the engines''
is corrected to read `` replacement part. After the ESVs, the
engines''.
20. On page 12861, column 1, Sec. 1.263(a)-3(e)(5) Example 7.,
lines 22 through 25, the language ``costs. Because the scheduled
maintenance involves recurring activities that X expects to perform
more than once during the 18 year class life of the towboat. This
maintenance'' is corrected to read ``costs. The scheduled maintenance
involves recurring activities that X expects to perform more than once
during the 18 year class life of the towboat. Because this
maintenance''.
21. On page 12861, column 2, Sec. 1.263(a)-3(e)(5) Example 9.,
line 9 from the bottom of the paragraph, the language ``ordinary
efficient operating condition if the'' is corrected to read
``ordinarily efficient operating condition if the''.
22. On page 12861, column 3, Sec. 1.263(a)-3(f)(2)(i), line 13,
the language ``financial statement (as described in'' is corrected to
read ``financial statement (as defined in''.
23. On page 12862, column 1, Sec. 1.263(a)-3(f)(3) Example 3. (i),
lines 4 and 5, the language ``for use its manufacturing operations.
Assume that the machine is a unit of property and it'' is corrected to
read ``for use in its manufacturing operations. Assume that the machine
is a unit of property and''.
24. On page 12862, column 3, Sec. 1.263(a)-3(f)(3) Example 6. (i),
line 1, the language ``Example 6. Not a betterment. X owns a'' is
corrected to read ``Example 6. Not a betterment. (i) X owns a''.
25. On page 12863, column 2, Sec. 1.263(a)-3(f)(3) Example 8.,
line 2, the language ``quality of the plant or its output of compared''
is corrected to read ``quality of the plant or its output compared''.
26. On page 12864, column 1, Sec. 1.263(a)-3(g)(2)(i)(A), line 1,
the language ``(1) Like-new condition. A unit of'' is corrected to read
``(A) Like-new condition. A unit of''.
27. On page 12864, column 1, Sec. 1.263(a)-3(g)(2)(i)(B), line 1,
the language ``(2) Economic useful life. The'' is corrected to read
``(B) Economic useful life. The''.
28. On page 12864, column 2, Sec. 1.263(a)-3(g)(3)(i)(A), line 1,
the language ``(1) A part or a combination of parts'' is corrected to
read ``(A) A part or a combination of parts''.
29. On page 12864, column 2, Sec. 1.263(a)-3(g)(3)(i)(B), line 1,
the language ``(2) A part or a combination of parts'' is corrected to
read ``(B) A part or a combination of parts''.
30. On page 12864, column 3, Sec. 1.263(a)-3(g)(4) Example 2.,
line 4, the language ``for which it had property taken into account''
is corrected to read ``for which it had properly taken into account''.
31. On page 12865, column 1, Sec. 1.263(a)-3(g)(4) Example 6.,
first paragraph of the column, line 4, the language ``rebuild, the
freight car has been restored to'' is corrected to read ``rebuild, the
freight car has been restored to a''.
32. On page 12865, column 1, Sec. 1.263(a)-3(g)(4) Example 6.,
line 11, the language ``paid restore the freight car to like-new'' is
corrected to read ``paid restore the freight car to a like-new''.
33. On page 12865, column 1, Sec. 1.263(a)-3(g)(4) Example 7.,
line 9, the language ``the freight car to like-new condition after
the'' is corrected to read ``the freight car to a like-new condition
after the''.
LaNita Van Dyke,
Chief, Publications and Regulations Branch, Legal Processing Division,
Associate Chief Counsel, (Procedure and Administration).
[FR Doc. E8-7515 Filed 4-9-08; 8:45 am]
BILLING CODE 4830-01-P
