Guidance Under Sections 642 and 643 (Income Ordering Rules); Correction, 40793 [E8-16178]

Download as PDF Federal Register / Vol. 73, No. 137 / Wednesday, July 16, 2008 / Proposed Rules Par. 2. Section 1.901–1 is amended by revising paragraphs (a) and (b) to read as follows: § 1.901–1 Allowance of credit for taxes. (a) and (b) [The text of proposed § 1.901–2(a) and (b) is the same as the text of § 1.901–1T(a) and (b) published elsewhere in this issue of the Federal Register.] * * * * * Par 3. Section 1.901–2 is amended by revising paragraphs (e)(5)(iii), (e)(5)(iv), and (h)(2) to read as follows: § 1.901–2 Income, war profits, or excess profits tax paid or accrued. * * * * * (e) * * * (5) * * * (iii) and (iv) [The text of proposed § 1.901–2(e)(5)(iii) and (iv) is the same as the text of § 1.901–2T(e)(5)(iii) and (iv) published elsewhere in this issue of the Federal Register.] * * * * * (h) * * * (2) [The text of proposed § 1.901– 2(h)(2) is the same as the text of § 1.901– 2T(h)(2) published elsewhere in this issue of the Federal Register.] Linda E. Stiff, Deputy Commissioner for Services and Enforcement. [FR Doc. E8–16331 Filed 7–15–08; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 1 [REG–101258–08] RIN 1545–BH66 Guidance Under Sections 642 and 643 (Income Ordering Rules); Correction Internal Revenue Service (IRS), Treasury. ACTION: Correction to notice of proposed rulemaking. jlentini on PROD1PC65 with PROPOSALS AGENCY: SUMMARY: This document contains corrections to a notice of proposed rulemaking (REG–101258–08) that was published in the Federal Register on Wednesday, June 18, 2008 (73 FR 34670) providing guidance under Internal Revenue Code section 642(c) with regard to the Federal tax consequences of an ordering provision in a trust, a will, or a provision of local law that attempts to determine the tax character of the amounts paid to a charitable beneficiary of the trust or estate. The proposed regulations also VerDate Aug<31>2005 17:14 Jul 15, 2008 Jkt 214001 make conforming amendments to the regulations under section 643(a)(5). The proposed regulations affect estates, charitable lead trusts (CLTs) and other trusts making payments or permanently setting aside amounts for a charitable purpose. FOR FURTHER INFORMATION CONTACT: Vishal Amin at (202) 622–3060 (not a toll-free number). SUPPLEMENTARY INFORMATION: Background The correction notice that is the subject of this document is under sections 642 and 643 of the Internal Revenue Code. Need for Correction As published, the notice of proposed rulemaking (REG–101258–08) contains errors that may prove to be misleading and are in need of clarification. Correction of Publication Accordingly, the publication of the notice of proposed rulemaking (REG– 101258–08), which was the subject of FR Doc. E8–13611, is corrected as follows: 1. On page 34671, column 1, in the preamble, under the paragraph heading ‘‘Explanation of Provisions’’, first paragraph, line 19, the language ‘‘proposed regulation will amend the’’ is corrected to read ‘‘proposed regulations will amend the’’. 2. On page 34671, column 2, in the preamble, under the paragraph heading ‘‘Explanation of Provisions’’, first paragraph of the column, line 3, the language ‘‘unrelated business tax income and tax-’’ is corrected to read ‘‘unrelated business taxable income and tax-’’. 3. On page 34671, column 2, in the preamble, under the paragraph heading ‘‘Explanation of Provisions’’, first paragraph of the column, line 22, the language ‘‘independent of the income tax’’ is corrected to read ‘‘independent of income tax’’. § 1.642(c)–3 [Corrected] 4. On page 34672, column 1, § 1.642(c)-3, paragraph 2., first entry of the amendatory instructions, the language ‘‘Revising the paragraph heading of paragraph (b) and add a heading to paragraph (b)(1).’’ is corrected to read ‘‘Revising the paragraph heading of paragraph (b) and adding a heading to paragraph (b)(1).’’. LaNita Van Dyke, Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel, (Procedure and Administration). [FR Doc. E8–16178 Filed 7–15–08; 8:45 am] BILLING CODE 4830–01–P PO 00000 Frm 00027 Fmt 4702 Sfmt 4702 40793 DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 54 [REG–120476–07] RIN 1545–BG71 Employer Comparable Contributions to Health Savings Accounts Under Section 4980G, and Requirement of Return for Filing of the Excise Tax Under Section 4980B, 4980D, 4980E or 4980G Internal Revenue Service (IRS), Treasury. ACTION: Notice of proposed rulemaking and notice of public hearing. AGENCY: SUMMARY: This document contains proposed regulations providing guidance on employer comparable contributions to Health Savings Accounts (HSAs) under section 4980G of the Internal Revenue Code (Code) as amended by sections 302, 305 and 306 of the Tax Relief and Health Care Act of 2006 (the Act). The proposed regulations also provide guidance relating to the requirement of a return to accompany payment of the excise tax under section 4980B, 4980D, 4980E, or 4980G of the Code and the time for filing that return. These proposed regulations would affect employers that contribute to employees’ HSAs and Archer MSAs, employers or employee organizations that sponsor a group health plan, and certain third parties such as insurance companies or HMOs or third-party administrators who are responsible for providing benefits under the plan. This document also provides notice of a public hearing on these proposed regulations. DATES: Written or electronic comments must be received by October 14, 2008. Outlines of topics to be discussed at the public hearing scheduled for October 30, 2008, at 10 a.m., must be received by October 13, 2008. ADDRESSES: Send submissions to: CC:PA:LPD:PR (REG–120476–07), Internal Revenue Service, room 5203, POB 7604, Ben Franklin Station, Washington, DC 20044. Submissions may be hand-delivered Monday through Friday between the hours of 8 a.m. and 4 p.m. to CC:PA:LPD:PR (REG–120476– 07), Courier’s Desk, Internal Revenue Service, 1111 Constitution Avenue, NW., Washington, DC. Alternatively, taxpayers may submit comments electronically via the Federal eRulemaking Portal at https:// www.regulations.gov (IRS REG–120476– 07). The public hearing will be held in E:\FR\FM\16JYP1.SGM 16JYP1

Agencies

[Federal Register Volume 73, Number 137 (Wednesday, July 16, 2008)]
[Proposed Rules]
[Page 40793]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-16178]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-101258-08]
RIN 1545-BH66


Guidance Under Sections 642 and 643 (Income Ordering Rules); 
Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to notice of proposed rulemaking.

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

SUMMARY: This document contains corrections to a notice of proposed 
rulemaking (REG-101258-08) that was published in the Federal Register 
on Wednesday, June 18, 2008 (73 FR 34670) providing guidance under 
Internal Revenue Code section 642(c) with regard to the Federal tax 
consequences of an ordering provision in a trust, a will, or a 
provision of local law that attempts to determine the tax character of 
the amounts paid to a charitable beneficiary of the trust or estate. 
The proposed regulations also make conforming amendments to the 
regulations under section 643(a)(5). The proposed regulations affect 
estates, charitable lead trusts (CLTs) and other trusts making payments 
or permanently setting aside amounts for a charitable purpose.

FOR FURTHER INFORMATION CONTACT: Vishal Amin at (202) 622-3060 (not a 
toll-free number).

SUPPLEMENTARY INFORMATION: 

Background

    The correction notice that is the subject of this document is under 
sections 642 and 643 of the Internal Revenue Code.

Need for Correction

    As published, the notice of proposed rulemaking (REG-101258-08) 
contains errors that may prove to be misleading and are in need of 
clarification.

Correction of Publication

    Accordingly, the publication of the notice of proposed rulemaking 
(REG-101258-08), which was the subject of FR Doc. E8-13611, is 
corrected as follows:
    1. On page 34671, column 1, in the preamble, under the paragraph 
heading
    ``Explanation of Provisions'', first paragraph, line 19, the 
language ``proposed regulation will amend the'' is corrected to read 
``proposed regulations will amend the''.
    2. On page 34671, column 2, in the preamble, under the paragraph 
heading
    ``Explanation of Provisions'', first paragraph of the column, line 
3, the language ``unrelated business tax income and tax-'' is corrected 
to read ``unrelated business taxable income and tax-''.
    3. On page 34671, column 2, in the preamble, under the paragraph 
heading
    ``Explanation of Provisions'', first paragraph of the column, line 
22, the language ``independent of the income tax'' is corrected to read 
``independent of income tax''.


Sec.  1.642(c)-3  [Corrected]

    4. On page 34672, column 1, Sec.  1.642(c)-3, paragraph 2., first 
entry of the amendatory instructions, the language ``Revising the 
paragraph heading of paragraph (b) and add a heading to paragraph 
(b)(1).'' is corrected to read ``Revising the paragraph heading of 
paragraph (b) and adding a heading to paragraph (b)(1).''.

LaNita Van Dyke,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel, (Procedure and Administration).
 [FR Doc. E8-16178 Filed 7-15-08; 8:45 am]
BILLING CODE 4830-01-P

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