Modification of Treasury Regulations Pursuant to Section 939A of the Dodd-Frank Wall Street Reform and Consumer Protection Act, 39341-39343 [2011-16857]
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Federal Register / Vol. 76, No. 129 / Wednesday, July 6, 2011 / Proposed Rules
Dated: June 30, 2011.
Joseph T. Rannazzisi,
Deputy Assistant Administrator.
if’’ is corrected to read ‘‘nonprofit
corporation) or partnership, if’’.
LaNita Van Dyke,
Chief, Publications and Regulations Branch,
Legal Processing Division, Associate Chief
Counsel (Procedure and Administration).
[FR Doc. 2011–16847 Filed 7–5–11; 8:45 am]
BILLING CODE 4410–09–P
[FR Doc. 2011–16824 Filed 7–5–11; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
DEPARTMENT OF THE TREASURY
26 CFR Part 1
Internal Revenue Service
[REG–114206–11]
26 CFR Part 1
[REG–118809–11]
RIN 1545–BK21
RIN 1545–BK27
Encouraging New Markets Tax Credit
Non-Real Estate Investments;
Correction
Modification of Treasury Regulations
Pursuant to Section 939A of the DoddFrank Wall Street Reform and
Consumer Protection Act
Internal Revenue Service (IRS),
Treasury.
AGENCY:
Correction to advance notice of
proposed rulemaking.
ACTION:
This document contains a
correction to advance notice of
proposed rulemaking (REG–114206–11)
that was published in the Federal
Register on Tuesday, June 7, 2011 (76
FR 32880). This document invites
comments from the public on how the
new markets tax credit program may be
amended to encourage non-real estate
investments.
SUMMARY:
Julie
Hanlon-Bolton, (202) 622–3040 (not a
toll-free number).
FOR FURTHER INFORMATION CONTACT:
SUPPLEMENTARY INFORMATION:
Background
The correction notice that is the
subject of this document is under
section 45D of the Internal Revenue
Code.
Need for Correction
As published, the advance notice of
proposed rulemaking (REG–114206–11)
contains an error that may prove to be
misleading and is in need of
clarification.
jlentini on DSK4TPTVN1PROD with PROPOSALS
Correction of Publication
Accordingly, the publication of
advance notice of proposed rulemaking
(REG–114206–11), which was the
subject of FR Doc. 2011–13981, is
corrected as follows:
On page 32881, column 2, in the
preamble, under the paragraph heading
‘‘Background’’, second paragraph of the
column, fourth line, the language
‘‘nonprofit corporation) or partnership
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16:52 Jul 05, 2011
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Internal Revenue Service (IRS),
Treasury.
ACTION: Notice of proposed rulemaking
by cross-reference to temporary
regulations.
AGENCY:
In the Rules and Regulations
section of this issue of the Federal
Register, the IRS is issuing final and
temporary regulations that remove any
reference to, or requirement of reliance
on, credit ratings in regulations under
the Internal Revenue Code (Code) and
provide substitute standards of creditworthiness where appropriate. The
Dodd-Frank Wall Street Reform and
Consumer Protection Act requires each
Federal agency to take such actions
regarding its regulations. These
regulations affect persons subject to
various provisions of the Code. The text
of the temporary regulations published
in the Rules and Regulations section of
the Federal Register also serves as the
text of the proposed regulations.
DATES: Written and electronic comments
and requests for a public hearing must
be received by August 30, 2011.
ADDRESSES: Send submissions to:
CC:PA:LPD:PR (REG–118809–11), Room
5203, Internal Revenue Service, PO Box
7604, Ben Franklin Station, Washington,
DC 20044. Submissions may be handdelivered to: CC:PA:LPD:PR Monday
through Friday between the hours of 8
a.m. and 4 p.m. to: CC:PA:LPD:PR
(REG–118809–11), Courier’s Desk,
Internal Revenue Service, 1111
Constitution Avenue, NW., Washington,
DC, or sent electronically via the
Federal eRulemaking Portal at https://
www.regulations.gov (IRS REG–118809–
11).
FOR FURTHER INFORMATION CONTACT:
Concerning the proposed regulations,
SUMMARY:
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39341
Arturo Estrada, (202) 622–3900;
concerning submissions of comments
and requests for a public hearing,
Oluwafunmilayo Taylor, (202) 622–7180
(not toll-free numbers).
SUPPLEMENTARY INFORMATION:
Background
Section 939A(a) of the Dodd-Frank
Wall Street Reform and Consumer
Protection Act, Public Law 111–203
(124 Stat. 1376 (2010)), (the ‘‘DoddFrank Act’’), requires each Federal
agency to review its regulations that
require the use of an assessment of
credit-worthiness of a security or money
market instrument, and to review any
references or requirements in those
regulations regarding credit ratings.
Section 939A(b) directs each agency to
modify any regulation identified in the
review required under section 939A(a)
by removing any reference to, or
requirement of reliance on, credit
ratings and substituting a standard of
credit-worthiness that the agency deems
appropriate. Numerous provisions
under the Code are affected.
Temporary regulations in the Rules
and Regulations section of this issue of
the Federal Register amend the Income
Tax Regulations (26 CFR part 1) under
sections 150, 171, 197, 249, 475, 860G,
and 1001 of the Code. The temporary
regulations also amend the
Manufacturers and Retailers Excise Tax
Regulations (26 CFR part 48) under
section 4101 of the Code. The text of the
temporary regulations also serves as the
text of these proposed regulations. The
preamble to the temporary regulations
explains the temporary regulations and
the proposed regulations.
Special Analyses
It has been determined that this notice
of proposed rulemaking is not a
significant regulatory action as defined
in Executive Order 12866, as
supplemented by Executive Order
13563. Therefore, a regulatory
assessment is not required. It has been
determined that section 553(b) of the
Administrative Procedure Act (5 U.S.C.
chapter 5) does not apply to these
regulations, and because these
regulations do not impose a collection
of information on small entities, the
Regulatory Flexibility Act (5 U.S.C.
chapter 6) does not apply. Pursuant to
section 7805(f) of the Code, this notice
of proposed rulemaking has been
submitted to the Chief Counsel for
Advocacy of the Small Business
Administration for comment on its
impact on small business.
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39342
Federal Register / Vol. 76, No. 129 / Wednesday, July 6, 2011 / Proposed Rules
Comments and Requests for a Public
Hearing
Before these proposed regulations are
adopted as final regulations,
consideration will be given to any
written comments (a signed original and
eight (8) copies) or electronic comments
that are submitted timely to the IRS. The
IRS and the Treasury Department
specifically request comments on the
clarity of the proposed regulations and
how they may be made easier to
understand. All comments will be
available for public inspection and
copying. A public hearing may be
scheduled if requested in writing by any
person that timely submits written
comments. If a public hearing is
scheduled, notice of the date, time, and
place for the hearing will be published
in the Federal Register.
Drafting Information
These regulations were drafted by
personnel in the Office of Associate
Chief Counsel (Financial Institutions
and Products), the Office of Associate
Chief Counsel (Income Tax and
Accounting), the Office of Associate
Chief Counsel (International) and the
Office of the Associate Chief Counsel
(Passthroughs and Special Industries).
However, other personnel from the IRS
and the Treasury Department
participated in their development.
List of Subjects
26 CFR Part 1
Income taxes, Reporting and
recordkeeping requirements.
*
Proposed Amendments to the
Regulations
Accordingly, 26 CFR parts 1 and 48
are proposed to be amended as follows:
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 1.150–1 is amended as
follows:
1. Paragraph (a)(4) is added.
2. In paragraph (b), the definition of
Issuance costs, is revised.
The addition and revision read as
follows:
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*
§ 1.197–2 Amortization of goodwill and
certain other intangibles.
*
*
*
*
*
(b) * * *
(7) [The text of the proposed
amendments to § 1.197–2(b)(7) is the
same as the text of § 1.197–2T(b)(7)
published elsewhere in this issue of the
Federal Register].
*
*
*
*
*
Par. 5. Section 1.249–1 is amended by
revising paragraphs (e)(2)(ii) and adding
paragraph (f)(3) to read as follows:
*
*
*
*
(e) * * *
(2) * * *
(ii) [The text of the proposed
amendments to § 1.249–1(e)(2)(ii) is the
same as the text of § 1.249–1T(e)(2)(ii)
published elsewhere in this issue of the
Federal Register].
*
*
*
*
*
(f) Effective/applicability dates. * * *
(3) [The text of the proposed
amendments to § 1.249–1(f)(3) is the
same as the text of § 1.249–1T(f)(3)
published elsewhere in this issue of the
Federal Register].
*
*
*
*
*
Par. 6. Section 1.475(a)–4 is amended
by revising paragraph (d)(4) Examples 1,
2, and 3 to read as follows:
§ 1.475(a)–4
*
*
*
(d) * * *
(4) * * *
Valuation safe harbor.
*
*
Example 1. [The text of the proposed
amendments to § 1.475(a)–(4)(d)(4) Example
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1 is the same as the text of § 1.475(a)–4T(d)(4)
Example 1 published elsewhere in this issue
of the Federal Register].
Example 2. [The text of the proposed
amendments to § 1.475(a)–4(d)(4) Example 2
is the same as the text of § 1.475(a)–4T(d)(4)
Example 2 published elsewhere in this issue
of the Federal Register].
Example 3. [The text of the proposed
amendments to § 1.475(a)–4(d)(4) Example 3
is the same as the text of § 1.475(a)–4T(d)(4)
Example 3 published elsewhere in this issue
of the Federal Register].
*
*
*
*
*
Par. 7. Section 1.860G–2 is amended
by revising paragraphs (g)(3)(ii)(B), (C),
and (D) to read as follows:
§ 1.860G–2
Par. 4. Section 1.197–2 is amended by
revising paragraph (b)(7) to read as
follows:
*
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*
Example 2. [The text of the proposed
amendments to § 1.171–1(f) Example 2 is the
same as the text of § 1.171–1T(f) Example 2
published elsewhere in this issue of the
Federal Register].
Definitions.
*
*
*
*
(4) [The text of the proposed
amendments to § 1.150–1(a)(4) is the
Bond premium.
*
*
(f) * * *
*
Excise taxes, Reporting and
recordkeeping requirements.
jlentini on DSK4TPTVN1PROD with PROPOSALS
§ 1.171–1
§ 1.249–1 Limitation on deduction of bond
premium on repurchase.
26 CFR Part 48
§ 1.150–1
same as the text of § 1.150–1T(a)(4)
published elsewhere in this issue of the
Federal Register].
(b) * * *
Issuance costs. [The text of the
proposed amendments to § 1.150–1(b),
Issuance costs, is the same as the text of
§ 1.150–1T(b), Issuance costs, published
elsewhere in this issue of the Federal
Register].
*
*
*
*
*
Par. 3. Section 1.171–1 is amended by
revising paragraph (f) Example 2 to read
as follows:
Other rules.
*
*
*
*
*
(g) * * *
(3) * * *
(ii) * * *
(B) [The text of the proposed
amendments to § 1.860G–2(g)(3)(ii)(B) is
the same as the text of § 1.860G–
2T(g)(3)(ii)(B) published elsewhere in
this issue of the Federal Register].
(C) [The text of the proposed
amendments to § 1.860G–2(g)(3)(ii)(C) is
the same as the text of § 1.860G–
2T(g)(3)(ii)(C) published elsewhere in
this issue of the Federal Register].
(D) [The text of the proposed
amendments to § 1.860G–2(g)(3)(ii)(D) is
the same as the text of § 1.860G–
2T(g)(3)(ii)(D) published elsewhere in
this issue of the Federal Register].
*
*
*
*
*
Par. 8. Section 1.1001–3 is amended
as follows:
1. Paragraph (d) Example 9 is revised.
2. Paragraph (e)(4)(iv)(B) is revised.
3. Paragraph (e)(5)(ii)(B)(2) is revised.
4. Paragraph (g) Examples 1, 5, and 8
are revised.
The revisions read as follows:
§ 1.1001–3 Modifications of debt
instruments.
*
*
*
(d) * * *
*
*
Example 9. [The text of the proposed
amendments to § 1.1001–3(d) Example 9 is
the same as the text of § 1.1001–3T(d)
Example 9 published elsewhere in this issue
of the Federal Register].
*
*
*
*
*
(e) * * *
(4) * * *
(iv) * * *
(B) [The text of the proposed
amendments to § 1.1001–3(e)(4)(iv)(B) is
the same as the text of § 1.1001–
3T(e)(4)(iv)(B) published elsewhere in
this issue of the Federal Register].
*
*
*
*
*
(5) * * *
(ii) * * *
(B) * * *
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Federal Register / Vol. 76, No. 129 / Wednesday, July 6, 2011 / Proposed Rules
39343
(2) [The text of the proposed
amendments to § 1.1001–3(e)(5)(ii)(B)(2)
is the same as the text of § 1.1001–
3T(e)(5)(ii)(B)(2) published elsewhere in
this issue of the Federal Register].
*
*
*
*
*
(g) * * *
DEPARTMENT OF THE TREASURY
DEPARTMENT OF EDUCATION
Internal Revenue Service
34 CFR Subtitles A and B
26 CFR Part 1
[Docket ID ED–2011–OGC–0004]
[REG–101826–11]
Reducing Regulatory Burden;
Retrospective Review Under E.O.
13563
Example 1. [The text of the proposed
amendments to § 1.1001–3(g) Example 1 is
the same as the text of § 1.1001–3T(g)
Example 1 published elsewhere in this issue
of the Federal Register].
New Markets Tax Credit Non-Real
Estate Investments; Correction
*
*
*
*
*
Example 5. [The text of the proposed
amendments to § 1.1001–3(g) Example 5 is
the same as the text of § 1.1001–3T(g)
Example 5 published elsewhere in this issue
of the Federal Register].
*
*
*
*
*
Example 8. [The text of the proposed
amendments to § 1.1001–3(g) Example 8 is
the same as the text of § 1.1001–3T(g)
Example 8 published elsewhere in this issue
of the Federal Register].
PART 48—MANUFACTURERS AND
RETAILERS EXCISE TAXES
Par. 9. The authority citation for part
48 continues to read in part as follows:
Authority: 26 U.S.C. 7805 * * *
Par. 10. Section 48.4101–1 paragraphs
(f)(4)(ii)(B) and (l)(5) are revised to read
as follows:
§ 48.4101–1
Taxable fuel; registration.
*
*
*
*
(f) * * *
(4) * * *
(ii) * * *
(B) [The text of the proposed
amendments to § 48.4101–1(f)(4)(ii)(B)
is the same as the text of § 48.4101–
1T(f)(4)(ii)(B) published elsewhere in
this issue of the Federal Register].
*
*
*
*
*
(l) * * *
(5) [The text of the proposed
amendments to § 48.4101–1(l)(5) is the
same as the text of § 48.4101–1T(l)(5)
published elsewhere in this issue of the
Federal Register].
jlentini on DSK4TPTVN1PROD with PROPOSALS
*
Steven T. Miller,
Deputy Commissioner for Services and
Enforcement.
[FR Doc. 2011–16857 Filed 7–1–11; 11:15 am]
RIN 1545–BK04
Internal Revenue Service (IRS),
Treasury.
ACTION: Correction to a notice of
proposed rulemaking.
AGENCY:
This document contains
corrections to a notice of proposed
rulemaking (REG–101826–11) that was
published in the Federal Register on
Tuesday, June 7, 2011 (76 FR 32882)
modifying the new markets tax credit
program to facilitate and encourage
investments in non-real estate
businesses in low-income communities.
FOR FURTHER INFORMATION CONTACT: Julie
Hanlon-Bolton, (202) 622–3040 (not a
toll-free number).
SUPPLEMENTARY INFORMATION:
SUMMARY:
Background
The correction notice that is the
subject of this document is under
section 45D of the Internal Revenue
Code.
Need for Correction
As published, a notice of proposed
rulemaking (REG–101826–11) 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–
101826–11), which was the subject of
FR Doc. 2011–13978, is corrected as
follows:
1. On page 32883, column 2, in the
preamble, under the paragraph heading
‘‘General Overview’’, second paragraph
of the column, fourth line, the language
‘‘nonprofit corporation) or partnership
if’’ is corrected to read ‘‘nonprofit
corporation) or partnership, if’’.
2. On page 32883, column 3, in the
preamble, under the paragraph heading
‘‘Explanation of Provisions’’, first
paragraph of the column, second line,
the language ‘‘amortizing loans) reinvest those’’ is corrected to read
‘‘amortizing loans) reinvest those’’.
LaNita Van Dyke,
Chief, Publications and Regulations Branch,
Legal Processing Division, Associate Chief
Counsel (Procedure and Administration).
BILLING CODE 4830–01–P
[FR Doc. 2011–16825 Filed 7–5–11; 8:45 am]
BILLING CODE 4830–01–P
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Department of Education.
Request for information.
AGENCY:
ACTION:
The U.S. Department of
Education (the Department) requests
comments on its preliminary plan for
the retrospective analysis of its existing
regulations as part of its implementation
of Executive Order 13563 ‘‘Improving
Regulation and Regulatory Review.’’
The purpose of this preliminary plan is
to make the Department’s regulatory
program more effective and less
burdensome in achieving the
Department’s regulatory objectives. The
plan, once final, will establish the
Department’s policy for conducting
thorough and meaningful retrospective
reviews and analyses of its regulations
on an ongoing basis. The Department
requests public comment on this
preliminary plan to help the Department
review its significant existing
regulations in order to determine
whether any of these regulations should
be modified, streamlined, expanded, or
repealed.
In addition, pursuant to the
‘‘President’s Memorandum on
Administrative Flexibility, Lower Costs,
and Better Results for State, Local, and
Tribal Governments,’’ we request
comments (including, when applicable,
from students, their parents, and
consumer and taxpayer representatives)
on possible administrative flexibility
that the Department may be able to
provide to State, local, and tribal
governments.
SUMMARY:
We must receive your comments
on or before July 25, 2011.
ADDRESSES: Submit your comments
through the Federal eRulemaking Portal
or via postal mail, commercial delivery,
or hand delivery. We will not accept
comments by fax or by e-mail. Please
submit your comments only one time, in
order to ensure that we do not receive
duplicate copies. In addition, please
include the Docket ID—Docket ID ED–
2011–OGC–0004—at the top of your
comments.
• Federal eRulemaking Portal: Go to
www.regulations.gov to submit your
comments. Information on using
Regulations.gov, including instructions
for finding a notice, submitting a
comment, finding a comment, and
signing up for e-mail alerts, is available
DATES:
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]]>Agencies
[Federal Register Volume 76, Number 129 (Wednesday, July 6, 2011)]
[Proposed Rules]
[Pages 39341-39343]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-16857]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[REG-118809-11]
RIN 1545-BK27
Modification of Treasury Regulations Pursuant to Section 939A of
the Dodd-Frank Wall Street Reform and Consumer Protection Act
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice of proposed rulemaking by cross-reference to temporary
regulations.
-----------------------------------------------------------------------
SUMMARY: In the Rules and Regulations section of this issue of the
Federal Register, the IRS is issuing final and temporary regulations
that remove any reference to, or requirement of reliance on, credit
ratings in regulations under the Internal Revenue Code (Code) and
provide substitute standards of credit-worthiness where appropriate.
The Dodd-Frank Wall Street Reform and Consumer Protection Act requires
each Federal agency to take such actions regarding its regulations.
These regulations affect persons subject to various provisions of the
Code. The text of the temporary regulations published in the Rules and
Regulations section of the Federal Register also serves as the text of
the proposed regulations.
DATES: Written and electronic comments and requests for a public
hearing must be received by August 30, 2011.
ADDRESSES: Send submissions to: CC:PA:LPD:PR (REG-118809-11), Room
5203, Internal Revenue Service, PO Box 7604, Ben Franklin Station,
Washington, DC 20044. Submissions may be hand-delivered to:
CC:PA:LPD:PR Monday through Friday between the hours of 8 a.m. and 4
p.m. to: CC:PA:LPD:PR (REG-118809-11), Courier's Desk, Internal Revenue
Service, 1111 Constitution Avenue, NW., Washington, DC, or sent
electronically via the Federal eRulemaking Portal at https://www.regulations.gov (IRS REG-118809-11).
FOR FURTHER INFORMATION CONTACT: Concerning the proposed regulations,
Arturo Estrada, (202) 622-3900; concerning submissions of comments and
requests for a public hearing, Oluwafunmilayo Taylor, (202) 622-7180
(not toll-free numbers).
SUPPLEMENTARY INFORMATION:
Background
Section 939A(a) of the Dodd-Frank Wall Street Reform and Consumer
Protection Act, Public Law 111-203 (124 Stat. 1376 (2010)), (the
``Dodd-Frank Act''), requires each Federal agency to review its
regulations that require the use of an assessment of credit-worthiness
of a security or money market instrument, and to review any references
or requirements in those regulations regarding credit ratings. Section
939A(b) directs each agency to modify any regulation identified in the
review required under section 939A(a) by removing any reference to, or
requirement of reliance on, credit ratings and substituting a standard
of credit-worthiness that the agency deems appropriate. Numerous
provisions under the Code are affected.
Temporary regulations in the Rules and Regulations section of this
issue of the Federal Register amend the Income Tax Regulations (26 CFR
part 1) under sections 150, 171, 197, 249, 475, 860G, and 1001 of the
Code. The temporary regulations also amend the Manufacturers and
Retailers Excise Tax Regulations (26 CFR part 48) under section 4101 of
the Code. The text of the temporary regulations also serves as the text
of these proposed regulations. The preamble to the temporary
regulations explains the temporary regulations and the proposed
regulations.
Special Analyses
It has been determined that this notice of proposed rulemaking is
not a significant regulatory action as defined in Executive Order
12866, as supplemented by Executive Order 13563. Therefore, a
regulatory assessment is not required. It has been determined that
section 553(b) of the Administrative Procedure Act (5 U.S.C. chapter 5)
does not apply to these regulations, and because these regulations do
not impose a collection of information on small entities, the
Regulatory Flexibility Act (5 U.S.C. chapter 6) does not apply.
Pursuant to section 7805(f) of the Code, this notice of proposed
rulemaking has been submitted to the Chief Counsel for Advocacy of the
Small Business Administration for comment on its impact on small
business.
[[Page 39342]]
Comments and Requests for a Public Hearing
Before these proposed regulations are adopted as final regulations,
consideration will be given to any written comments (a signed original
and eight (8) copies) or electronic comments that are submitted timely
to the IRS. The IRS and the Treasury Department specifically request
comments on the clarity of the proposed regulations and how they may be
made easier to understand. All comments will be available for public
inspection and copying. A public hearing may be scheduled if requested
in writing by any person that timely submits written comments. If a
public hearing is scheduled, notice of the date, time, and place for
the hearing will be published in the Federal Register.
Drafting Information
These regulations were drafted by personnel in the Office of
Associate Chief Counsel (Financial Institutions and Products), the
Office of Associate Chief Counsel (Income Tax and Accounting), the
Office of Associate Chief Counsel (International) and the Office of the
Associate Chief Counsel (Passthroughs and Special Industries). However,
other personnel from the IRS and the Treasury Department participated
in their development.
List of Subjects
26 CFR Part 1
Income taxes, Reporting and recordkeeping requirements.
26 CFR Part 48
Excise taxes, Reporting and recordkeeping requirements.
Proposed Amendments to the Regulations
Accordingly, 26 CFR parts 1 and 48 are proposed to be amended as
follows:
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 1.150-1 is amended as follows:
1. Paragraph (a)(4) is added.
2. In paragraph (b), the definition of Issuance costs, is revised.
The addition and revision read as follows:
Sec. 1.150-1 Definitions.
* * * * *
(4) [The text of the proposed amendments to Sec. 1.150-1(a)(4) is
the same as the text of Sec. 1.150-1T(a)(4) published elsewhere in
this issue of the Federal Register].
(b) * * *
Issuance costs. [The text of the proposed amendments to Sec.
1.150-1(b), Issuance costs, is the same as the text of Sec. 1.150-
1T(b), Issuance costs, published elsewhere in this issue of the Federal
Register].
* * * * *
Par. 3. Section 1.171-1 is amended by revising paragraph (f)
Example 2 to read as follows:
Sec. 1.171-1 Bond premium.
* * * * *
(f) * * *
Example 2. [The text of the proposed amendments to Sec. 1.171-
1(f) Example 2 is the same as the text of Sec. 1.171-1T(f) Example
2 published elsewhere in this issue of the Federal Register].
Par. 4. Section 1.197-2 is amended by revising paragraph (b)(7) to
read as follows:
Sec. 1.197-2 Amortization of goodwill and certain other intangibles.
* * * * *
(b) * * *
(7) [The text of the proposed amendments to Sec. 1.197-2(b)(7) is
the same as the text of Sec. 1.197-2T(b)(7) published elsewhere in
this issue of the Federal Register].
* * * * *
Par. 5. Section 1.249-1 is amended by revising paragraphs
(e)(2)(ii) and adding paragraph (f)(3) to read as follows:
Sec. 1.249-1 Limitation on deduction of bond premium on repurchase.
* * * * *
(e) * * *
(2) * * *
(ii) [The text of the proposed amendments to Sec. 1.249-
1(e)(2)(ii) is the same as the text of Sec. 1.249-1T(e)(2)(ii)
published elsewhere in this issue of the Federal Register].
* * * * *
(f) Effective/applicability dates. * * *
(3) [The text of the proposed amendments to Sec. 1.249-1(f)(3) is
the same as the text of Sec. 1.249-1T(f)(3) published elsewhere in
this issue of the Federal Register].
* * * * *
Par. 6. Section 1.475(a)-4 is amended by revising paragraph (d)(4)
Examples 1, 2, and 3 to read as follows:
Sec. 1.475(a)-4 Valuation safe harbor.
* * * * *
(d) * * *
(4) * * *
Example 1. [The text of the proposed amendments to Sec.
1.475(a)-(4)(d)(4) Example 1 is the same as the text of Sec.
1.475(a)-4T(d)(4) Example 1 published elsewhere in this issue of the
Federal Register].
Example 2. [The text of the proposed amendments to Sec.
1.475(a)-4(d)(4) Example 2 is the same as the text of Sec.
1.475(a)-4T(d)(4) Example 2 published elsewhere in this issue of the
Federal Register].
Example 3. [The text of the proposed amendments to Sec.
1.475(a)-4(d)(4) Example 3 is the same as the text of Sec.
1.475(a)-4T(d)(4) Example 3 published elsewhere in this issue of the
Federal Register].
* * * * *
Par. 7. Section 1.860G-2 is amended by revising paragraphs
(g)(3)(ii)(B), (C), and (D) to read as follows:
Sec. 1.860G-2 Other rules.
* * * * *
(g) * * *
(3) * * *
(ii) * * *
(B) [The text of the proposed amendments to Sec. 1.860G-
2(g)(3)(ii)(B) is the same as the text of Sec. 1.860G-2T(g)(3)(ii)(B)
published elsewhere in this issue of the Federal Register].
(C) [The text of the proposed amendments to Sec. 1.860G-
2(g)(3)(ii)(C) is the same as the text of Sec. 1.860G-2T(g)(3)(ii)(C)
published elsewhere in this issue of the Federal Register].
(D) [The text of the proposed amendments to Sec. 1.860G-
2(g)(3)(ii)(D) is the same as the text of Sec. 1.860G-2T(g)(3)(ii)(D)
published elsewhere in this issue of the Federal Register].
* * * * *
Par. 8. Section 1.1001-3 is amended as follows:
1. Paragraph (d) Example 9 is revised.
2. Paragraph (e)(4)(iv)(B) is revised.
3. Paragraph (e)(5)(ii)(B)(2) is revised.
4. Paragraph (g) Examples 1, 5, and 8 are revised.
The revisions read as follows:
Sec. 1.1001-3 Modifications of debt instruments.
* * * * *
(d) * * *
Example 9. [The text of the proposed amendments to Sec. 1.1001-
3(d) Example 9 is the same as the text of Sec. 1.1001-3T(d) Example
9 published elsewhere in this issue of the Federal Register].
* * * * *
(e) * * *
(4) * * *
(iv) * * *
(B) [The text of the proposed amendments to Sec. 1.1001-
3(e)(4)(iv)(B) is the same as the text of Sec. 1.1001-3T(e)(4)(iv)(B)
published elsewhere in this issue of the Federal Register].
* * * * *
(5) * * *
(ii) * * *
(B) * * *
[[Page 39343]]
(2) [The text of the proposed amendments to Sec. 1.1001-
3(e)(5)(ii)(B)(2) is the same as the text of Sec. 1.1001-
3T(e)(5)(ii)(B)(2) published elsewhere in this issue of the Federal
Register].
* * * * *
(g) * * *
Example 1. [The text of the proposed amendments to Sec. 1.1001-
3(g) Example 1 is the same as the text of Sec. 1.1001-3T(g) Example
1 published elsewhere in this issue of the Federal Register].
* * * * *
Example 5. [The text of the proposed amendments to Sec.
1.1001-3(g) Example 5 is the same as the text of Sec. 1.1001-3T(g)
Example 5 published elsewhere in this issue of the Federal
Register].
* * * * *
Example 8. [The text of the proposed amendments to Sec.
1.1001-3(g) Example 8 is the same as the text of Sec. 1.1001-3T(g)
Example 8 published elsewhere in this issue of the Federal
Register].
PART 48--MANUFACTURERS AND RETAILERS EXCISE TAXES
Par. 9. The authority citation for part 48 continues to read in
part as follows:
Authority: 26 U.S.C. 7805 * * *
Par. 10. Section 48.4101-1 paragraphs (f)(4)(ii)(B) and (l)(5) are
revised to read as follows:
Sec. 48.4101-1 Taxable fuel; registration.
* * * * *
(f) * * *
(4) * * *
(ii) * * *
(B) [The text of the proposed amendments to Sec. 48.4101-
1(f)(4)(ii)(B) is the same as the text of Sec. 48.4101-1T(f)(4)(ii)(B)
published elsewhere in this issue of the Federal Register].
* * * * *
(l) * * *
(5) [The text of the proposed amendments to Sec. 48.4101-1(l)(5)
is the same as the text of Sec. 48.4101-1T(l)(5) published elsewhere
in this issue of the Federal Register].
Steven T. Miller,
Deputy Commissioner for Services and Enforcement.
[FR Doc. 2011-16857 Filed 7-1-11; 11:15 am]
BILLING CODE 4830-01-P
