Information Reporting for Discharges of Indebtedness; Correction, 75326 [E8-29273]

Download as PDF 75326 Federal Register / Vol. 73, No. 239 / Thursday, December 11, 2008 / Rules and Regulations Authority: 42 U.S.C. 11389 and 3535(d). 6. In § 583.145, paragraph (b) is revised to read as follows ■ § 583.145 Matching requirements. * * * * * (b) Cash resources. The matching funds must be cash resources provided to the project by one or more of the following: the recipient, the Federal government, State and local governments, and private resources, in accordance with 42 U.S.C. 11386. This statute provides that a recipient may use funds from any source, including any other Federal source (but excluding the specific statutory subtitle from which Supportive Housing Program funds are provided), as well as State, local, and private sources, provided that funds from the other source are not statutorily prohibited to be used as a match. It is the responsibility of the recipient to ensure that any funds used to satisfy the matching requirements of this section are eligible under the laws governing the funds to be used as matching funds for a grant awarded under this program. * * * * * certain lenders who are currently required to file information returns under the existing regulations. DATES: Effective Date: This correction is effective December 11, 2008, and is applicable on November 10, 2008. FOR FURTHER INFORMATION CONTACT: Barbara Pettoni, (202) 622–4910 (not a toll-free number). SUPPLEMENTARY INFORMATION: Background The final and temporary regulations that are the subject of this document are under section 6050P of the Internal Revenue Code. DATES: Effective Date: This correction is effective December 11, 2008, and is applicable on November 10, 2008. FOR FURTHER INFORMATION CONTACT: Barbara Pettoni, (202) 622–4910 (not a toll-free number). SUPPLEMENTARY INFORMATION: BILLING CODE 4210–67–P DEPARTMENT OF THE TREASURY Internal Revenue Service Need for Correction As published, final and temporary regulations (TD 9430) contains an error that may prove to be misleading and is in need of clarification. Background Correction of Publication Accordingly, the publication of the final and temporary regulations (TD 9430), which was the subject of FR Doc. E8–26676, is corrected as follows: On page 66540, column 1, in the preamble, under the paragraph heading ‘‘Reasons for Change’’, first paragraph of the column, line 14, the language ‘‘Treasury Department and IRS is’’ is corrected to read ‘‘Treasury Department and IRS are’’. Need for Correction LaNita Van Dyke, Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration). [FR Doc. E8–29273 Filed 12–10–08; 8:45 am] Dated: November 21, 2008. Susan D. Peppler, Assistant Secretary for Community Planning and Development. [FR Doc. E8–29304 Filed 12–10–08; 8:45 am] ■ The final and temporary regulations that are the subject of this document are under section 6050P of the Internal Revenue Code. As published, final and temporary regulations (TD 9430) contains an error that may prove to be misleading and is in need of clarification. List of Subjects in 26 CFR Part 1 Income taxes, Reporting and recordkeeping requirements. Correction of Publication Accordingly, 26 CFR part 1 is corrected by making the following correcting amendment: PART 1—INCOME TAXES BILLING CODE 4830–01–P Paragraph 1. The authority citation for part 1 continues to read, in part, as follows: ■ 26 CFR Part 1 [TD 9430] DEPARTMENT OF THE TREASURY RIN 1545–BH99 Internal Revenue Service Information Reporting for Discharges of Indebtedness; Correction 26 CFR Part 1 Internal Revenue Service (IRS), Treasury. ACTION: Correction to final and temporary regulations. AGENCY: jlentini on PROD1PC65 with RULES businesses that are currently required to report and will reduce the number of information returns required to be filed. The temporary regulations will impact certain lenders who are currently required to file information returns under the existing regulations. SUMMARY: This document contains a correction to final and temporary regulations (TD 9430) that were published in the Federal Register on Monday, November 10, 2008 (73 FR 66539) relating to information returns for cancellation of indebtedness by certain entities. The temporary regulations will avoid premature information reporting from certain businesses that are currently required to report and will reduce the number of information returns required to be filed. The temporary regulations will impact VerDate Aug<31>2005 16:21 Dec 10, 2008 Jkt 217001 Authority: 26 U.S.C. 7805 * * * Par. 2. Section 1.6050P–1T is amended by revising an entry for (a) through (b)(2)(i)(G) [Reserved] as follows: ■ [TD 9430] RIN 1545–BH99 Information Reporting for Discharges of Indebtedness; Correction AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Correcting amendment. SUMMARY: This document contains a correction to final and temporary regulations (TD 9430) that were published in the Federal Register on Monday, November 10, 2008 (73 FR 66539) relating to information returns for cancellation of indebtedness by certain entities. The temporary regulations will avoid premature information reporting from certain PO 00000 Frm 00022 Fmt 4700 Sfmt 4700 § 1.6050P–1T Information reporting for discharges of indebtedness by certain entities (temporary). (a) Through (b)(2)(i)(G) [Reserved]. For further guidance, see § 1.6050P–1(a) through (b)(2)(i)(G). * * * * * LaNita Van Dyke, Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration). [FR Doc. E8–29276 Filed 12–10–08; 8:45 am] BILLING CODE 4830–01–P E:\FR\FM\11DER1.SGM 11DER1

Agencies

[Federal Register Volume 73, Number 239 (Thursday, December 11, 2008)]
[Rules and Regulations]
[Page 75326]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-29273]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9430]
RIN 1545-BH99


Information Reporting for Discharges of Indebtedness; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to final and temporary regulations.

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SUMMARY: This document contains a correction to final and temporary 
regulations (TD 9430) that were published in the Federal Register on 
Monday, November 10, 2008 (73 FR 66539) relating to information returns 
for cancellation of indebtedness by certain entities. The temporary 
regulations will avoid premature information reporting from certain 
businesses that are currently required to report and will reduce the 
number of information returns required to be filed. The temporary 
regulations will impact certain lenders who are currently required to 
file information returns under the existing regulations.

DATES: Effective Date: This correction is effective December 11, 2008, 
and is applicable on November 10, 2008.

FOR FURTHER INFORMATION CONTACT: Barbara Pettoni, (202) 622-4910 (not a 
toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The final and temporary regulations that are the subject of this 
document are under section 6050P of the Internal Revenue Code.

Need for Correction

    As published, final and temporary regulations (TD 9430) contains an 
error that may prove to be misleading and is in need of clarification.

Correction of Publication

    Accordingly, the publication of the final and temporary regulations 
(TD 9430), which was the subject of FR Doc. E8-26676, is corrected as 
follows:
    On page 66540, column 1, in the preamble, under the paragraph 
heading ``Reasons for Change'', first paragraph of the column, line 14, 
the language ``Treasury Department and IRS is'' is corrected to read 
``Treasury Department and IRS are''.

LaNita Van Dyke,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel (Procedure and Administration).
 [FR Doc. E8-29273 Filed 12-10-08; 8:45 am]
BILLING CODE 4830-01-P

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