Employee Stock Purchase Plans Under Internal Revenue Code Section 423; Correction, 67973 [E9-30350]
Download as PDF
<![CDATA[
Federal Register / Vol. 74, No. 244 / Tuesday, December 22, 2009 / Rules and Regulations
3. Revising the last sentence of
paragraph (i)(5) Example 5.
The revisions read as follows:
■
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
§ 1.423–2
defined.
[TD 9471]
*
RIN 1545–BH68
Employee Stock Purchase Plans Under
Internal Revenue Code Section 423;
Correction
AGENCY: Internal Revenue Service (IRS),
Treasury.
ACTION: Correcting amendments.
SUMMARY: This document contains
corrections to final regulations (TD
9471) that were published in the
Federal Register on Tuesday, November
17, 2009 (74 FR 59074) providing
guidance to assist taxpayers in
complying with section 423 in addition
to clarifying certain rules regarding
options granted under an employee
stock purchase plan.
DATES: This correction is effective on
December 22, 2009, and is applicable on
November 17, 2009.
FOR FURTHER INFORMATION CONTACT:
Thomas Scholz or Ilya Enkishev, (202)
622–6030 (not a toll-free number).
SUPPLEMENTARY INFORMATION:
Employee stock purchase plan
*
*
*
*
(a) * * * (1) The term ‘‘employee
stock purchase plan’’ means a plan that
meets the requirements of paragraphs
(a)(2) and (a)(3) of this section. * * *
*
*
*
*
*
(d) * * *
(3) Examples. The following examples
illustrate the principles of this
paragraph (d):
*
*
*
*
*
(i) * * *
(5) * * *
Example 5. * * * On August 31, 2012, Q
may purchase under the option an amount of
FF stock equal to the difference between
$75,000 in fair market value of FF stock
(determined at the time the option was
granted) and the fair market value of FF stock
(determined at the time of grant of the
option) purchased during year 2011.
*
*
*
*
67973
SUPPLEMENTARY INFORMATION:
Background
The final regulations (TD 9470) that
are the subject of this document are
under section 6039 of the Internal
Revenue Code.
Need for Correction
As published, the final regulations
(TD 9470) contain errors that may prove
to be misleading and are 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 amendments:
■
PART 1—INCOME TAXES
Paragraph 1. The authority citation
for part 1 continues to read in part as
follows:
■
*
Authority: 26 U.S.C. 7805 * * *
LaNita Van Dyke,
Chief, Publications and Regulations Branch,
Legal Processing Division, Associate Chief
Counsel (Procedure and Administration).
[FR Doc. E9–30350 Filed 12–21–09; 8:45 am]
BILLING CODE 4830–01–P
Background
Par. 2. Section 1.6039–2 is amended
as follows:
■ 1. Revising the heading of paragraph
(b).
■ 2. Revising the first and second
sentences of paragraph (e)(2).
The revisions read as follows:
■
The final regulations (TD 9471) that
are the subject of this document are
under sections 421, 422, 423, and 424 of
the Internal Revenue Code.
DEPARTMENT OF THE TREASURY
Internal Revenue Service
§ 1.6039–2 Statements to persons with
respect to whom information is reported.
*
Need for Correction
26 CFR Part 1
As published, the final regulations
(TD 9471) contain errors that may prove
to be misleading and are in need of
clarification.
[TD 9470]
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 amendments:
■
PART 1—INCOME TAXES
Paragraph 1. The authority citation
for part 1 continues to read in part as
follows:
wwoods2 on DSK1DXX6B1PROD with RULES_PART 1
■
Authority: 26 U.S.C. 7805 * * *
Par. 2. Section 1.423–2 is amended
by:
■ 1. Revising the first sentence of
paragraph (a)(1).
■ 2. Revising the paragraph (d)(3).
■
VerDate Nov<24>2008
14:53 Dec 21, 2009
Jkt 220001
RIN 1545–BH69
Information Reporting Requirements
Under Internal Revenue Code Section
6039; Correction
AGENCY: Internal Revenue Service (IRS),
Treasury.
ACTION: Correcting amendments.
SUMMARY: This document contains
corrections to final regulations (TD
9470) that were published in the
Federal Register on Tuesday, November
17, 2009 (74 FR 59087) relating to the
return and information statement
requirements under section 6039 of the
Internal Revenue Code.
DATES: This correction is effective on
December 22, 2009, and is applicable on
November 17, 2009.
FOR FURTHER INFORMATION CONTACT:
Thomas Scholz or Ilya Enkishev, (202)
622–6030 (not a toll-free number).
PO 00000
Frm 00005
Fmt 4700
Sfmt 4700
*
*
*
*
(b) Requirement of statement with
respect to stock purchased under an
employee stock purchase plan under
section 6039(b).
*
*
*
*
*
(e) * * *
(2) * * * Notwithstanding § 1.6039–
1(f), corporations must furnish
information statements to employees in
accordance with this section for stock
transfers that are subject to § 1.6039–1(a)
and (b), and occur during the 2007, 2008
and 2009 calendar years. For purposes
of furnishing information statements for
stock transfers that occur during the
2007 or 2008 calendar years, taxpayers
may rely on § 1.6039–1 of the 2004 final
regulations (69 FR 46401) or § 1.6039–
2 of the 2008 proposed regulations
(REG–103146–08) (73 FR 40999). * * *
*
*
*
*
*
LaNita Van Dyke,
Chief, Publications and Regulations Branch,
Legal Processing Division, Associate Chief
Counsel (Procedure and Administration).
[FR Doc. E9–30348 Filed 12–21–09; 8:45 am]
BILLING CODE 4830–01–P
E:\FR\FM\22DER1.SGM
22DER1
]]>Agencies
[Federal Register Volume 74, Number 244 (Tuesday, December 22, 2009)]
[Rules and Regulations]
[Page 67973]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-30350]
[[Page 67973]]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[TD 9471]
RIN 1545-BH68
Employee Stock Purchase Plans Under Internal Revenue Code Section
423; Correction
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Correcting amendments.
-----------------------------------------------------------------------
SUMMARY: This document contains corrections to final regulations (TD
9471) that were published in the Federal Register on Tuesday, November
17, 2009 (74 FR 59074) providing guidance to assist taxpayers in
complying with section 423 in addition to clarifying certain rules
regarding options granted under an employee stock purchase plan.
DATES: This correction is effective on December 22, 2009, and is
applicable on November 17, 2009.
FOR FURTHER INFORMATION CONTACT: Thomas Scholz or Ilya Enkishev, (202)
622-6030 (not a toll-free number).
SUPPLEMENTARY INFORMATION:
Background
The final regulations (TD 9471) that are the subject of this
document are under sections 421, 422, 423, and 424 of the Internal
Revenue Code.
Need for Correction
As published, the final regulations (TD 9471) contain errors that
may prove to be misleading and are in need of clarification.
List of Subjects in 26 CFR Part 1
Income taxes, Reporting and recordkeeping requirements.
Correction of Publication
0
Accordingly, 26 CFR part 1 is corrected by making the following
correcting amendments:
PART 1--INCOME TAXES
0
Paragraph 1. The authority citation for part 1 continues to read in
part as follows:
Authority: 26 U.S.C. 7805 * * *
0
Par. 2. Section 1.423-2 is amended by:
0
1. Revising the first sentence of paragraph (a)(1).
0
2. Revising the paragraph (d)(3).
0
3. Revising the last sentence of paragraph (i)(5) Example 5.
The revisions read as follows:
Sec. 1.423-2 Employee stock purchase plan defined.
* * * * *
(a) * * * (1) The term ``employee stock purchase plan'' means a
plan that meets the requirements of paragraphs (a)(2) and (a)(3) of
this section. * * *
* * * * *
(d) * * *
(3) Examples. The following examples illustrate the principles of
this paragraph (d):
* * * * *
(i) * * *
(5) * * *
Example 5. * * * On August 31, 2012, Q may purchase under the
option an amount of FF stock equal to the difference between $75,000
in fair market value of FF stock (determined at the time the option
was granted) and the fair market value of FF stock (determined at
the time of grant of the option) purchased during year 2011.
* * * * *
LaNita Van Dyke,
Chief, Publications and Regulations Branch, Legal Processing Division,
Associate Chief Counsel (Procedure and Administration).
[FR Doc. E9-30350 Filed 12-21-09; 8:45 am]
BILLING CODE 4830-01-P
