Build-In Gains and Losses Under Section 382(h); Correction, 44138 [2010-18270]

Download as PDF 44138 Federal Register / Vol. 75, No. 144 / Wednesday, July 28, 2010 / Rules and Regulations PART 408—SPECIAL BENEFITS FOR CERTAIN WORLD WAR II VETERANS Subpart J—[Amended] 1. The authority citation for subpart J of part 408 continues to read as follows: ■ Authority: Secs. 702(a)(5) and 809 of the Social Security Act (42 U.S.C. 902(a)(5) and 1009). § 408.1070 [Corrected] 2. In § 408.1070, amend paragraph (b)(1) introductory text by removing the words ‘‘wholly or partially unfavorable’’ and adding in its place the words ‘‘fully or partially unfavorable’’. ■ Martin Sussman, Senior Advisor for Regulations. [FR Doc. 2010–18426 Filed 7–27–10; 8:45 am] 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 * * *. Par. 2. Section 1.382–2T is amended by revising the headings of paragraph (h)(4)(vii)(A) and paragraph (h)(4)(x)(J) to read as follows: ■ BILLING CODE 4191–02–P § 1.382–2T Definition of ownership change under section 382, as amended by the tax Reform Act of 1986 (temporary). DEPARTMENT OF THE TREASURY * * * * * (h) * * * (4) * * * (vii) * * * (A) Right or obligation to issue stock. * * * * * * * * (x) * * * (J) Title 11 or similar case. * * * * * * * * Internal Revenue Service 26 CFR Part 1 [TD 9487] RIN 1545–BG03 Build-In Gains and Losses Under Section 382(h); Correction Internal Revenue Service (IRS), Treasury. ACTION: Correcting amendment. AGENCY: LaNita Van Dyke, Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel, (Procedure and Administration). [FR Doc. 2010–18270 Filed 7–27–10; 8:45 am] Authority: 39 U.S.C. 503; 3622; 3631; 3642; 3682. AGENCY: sroberts on DSKD5P82C1PROD with RULES The final regulations (TD 9487) that are the subject of this document are under section 382 of the Internal Revenue Code. Need for Correction As published, the final regulations (TD 9487) contain errors that may prove to be misleading and are in need of clarification. VerDate Mar<15>2010 16:31 Jul 27, 2010 Jkt 220001 By the Commission. Shoshana M. Grove, Secretary. [Docket Nos. MC2010–21; CP2010–36 and MC2010–20] This correction is effective on July 28, 2010, and is applicable on June 16, 2010. FOR FURTHER INFORMATION CONTACT: Keith E. Stanley, (202) 622–7750 (not a toll-free number). SUPPLEMENTARY INFORMATION: Background Administrative practice and procedure; Postal Service. 30 CFR Part 3020 BILLING CODE 4830–01–P DATES: List of Subjects in 39 CFR Part 3020 For the reasons discussed in the preamble, the Postal Regulatory Commissin amends chapter III of title 39 of the Code of Federal Regulations as follows: ■ 1. The authority citation for part 3020 continues to read as follows: This document contains correcting amends to IRS’ regulations providing guidance regarding the treatment of prepaid income under the built-in gain provisions of section 382(h). These errors were made when the agency published final regulations (TD 9487) in the Federal Register on Wednesday, June 16, 2010 (75 FR 33990). SUMMARY: at stephen.sharfman@prc.gov or 202– 789–6820. SUPPLEMENTARY INFORMATION: This document identifies recent updates to the product lists, which appear as 39 CFR Appendix A to Subpart A of Part 3020–Mail Classification Schedule. Publication of updated product lists in the Federal Register is required by the Postal Accountability and Enhancement Act (PAEA) of 2006. Authorization. The Commission process for periodic publication of updates was established in Order No. 445, April 22, 2010. Changes. Since publication of the product lists in the Federal Register on March 16, 2010 (75 FR 12445), the following additions to the competitive product list have been made: • Reseller Expedited Package Services 1 (MC2010–21 and CP2010–36), added April 22, 2010 (Order No. 445); and • Post Office Box Service (MC2010– 20), added June 17, 2010 (Order No. 473). Updated product lists. The referenced changes to the product lists are included in the product lists following the Secretary’s signature. POSTAL REGULATORY COMMISSION Postal Regulatory Commission. Final rule. The Commission is updating postal product lists. This action reflects the disposition of recent dockets, as set out in two Commission orders, and adoption of a publication policy. The publication policy assumes periodic updates. The updates are identified in the body of this document. The product lists, which are re-published in their entirety, include these updates. DATES: Effective Date: July 28, 2010. Applicability Date: April 22, 2010 (GREPS 1) and June 17, 2010 (Post Office Box Service). FOR FURTHER INFORMATION CONTACT: Stephen L. Sharfman, General Counsel, SUMMARY: PO 00000 Frm 00074 Fmt 4700 Sfmt 4700 2. Revise Appendix A to Subpart A of Part 3020–Mail Classification Schedule to read as follows: ■ New Postal Products ACTION: ■ Appendix A to Subpart A of Part 3020—Mail Classification Schedule Part A—Market Dominant Products 1000 Market Dominant Product List First-Class Mail Single-Piece Letters/Postcards Bulk Letters/Postcards Flats Parcels Outbound Single-Piece First-Class Mail International Inbound Single-Piece First-Class Mail International Standard Mail (Regular and Nonprofit) High Density and Saturation Letters High Density and Saturation Flats/Parcels Carrier Route E:\FR\FM\28JYR1.SGM 28JYR1

Agencies

[Federal Register Volume 75, Number 144 (Wednesday, July 28, 2010)]
[Rules and Regulations]
[Page 44138]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-18270]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9487]
RIN 1545-BG03


Build-In Gains and Losses Under Section 382(h); Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correcting amendment.

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SUMMARY: This document contains correcting amends to IRS' regulations 
providing guidance regarding the treatment of prepaid income under the 
built-in gain provisions of section 382(h). These errors were made when 
the agency published final regulations (TD 9487) in the Federal 
Register on Wednesday, June 16, 2010 (75 FR 33990).

DATES: This correction is effective on July 28, 2010, and is applicable 
on June 16, 2010.

FOR FURTHER INFORMATION CONTACT: Keith E. Stanley, (202) 622-7750 (not 
a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The final regulations (TD 9487) that are the subject of this 
document are under section 382 of the Internal Revenue Code.

Need for Correction

    As published, the final regulations (TD 9487) 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 1.382-2T is amended by revising the headings of 
paragraph (h)(4)(vii)(A) and paragraph (h)(4)(x)(J) to read as follows:


Sec.  1.382-2T  Definition of ownership change under section 382, as 
amended by the tax Reform Act of 1986 (temporary).

* * * * *
    (h) * * *
    (4) * * *
    (vii) * * *
    (A) Right or obligation to issue stock. * * *
* * * * *
    (x) * * *
    (J) Title 11 or similar case. * * *
* * * * *

LaNita Van Dyke,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel, (Procedure and Administration).
[FR Doc. 2010-18270 Filed 7-27-10; 8:45 am]
BILLING CODE 4830-01-P