Definition of Solid Waste Disposal Facilities for Tax-Exempt Bond Purposes; Correction, 55256 [2011-22739]

Download as PDF 55256 Federal Register / Vol. 76, No. 173 / Wednesday, September 7, 2011 / Rules and Regulations § 1.142(a)(6)–1 Exempt facility bonds: solid waste disposal facilities. under section 142 of the Internal Revenue Code. * * * * * (c) * * * (2) * * * (v) Radioactive material. Solid waste excludes any radioactive material subject to regulation under the Nuclear Regulatory Act (10 CFR 1.1 et seq.), as in effect on the issue date of the bonds. * * * * * (h) * * * Example 9 * * * (ii) The facts are the same as in paragraph (i) of this Example 9, except that the stripped bark represents only 55 percent by weight and volume of the materials that are transported by the conveyor belt. * * * * * * * * LaNita VanDyke, Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel, (Procedure and Administration). [FR Doc. 2011–22738 Filed 9–6–11; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Need for Correction As published August 19, 2001 (76 FR 51879), the final regulations (TD 9546) contain errors that may prove to be misleading and are in need of clarification. Correction of Publication DEPARTMENT OF THE TREASURY Background This document contains amendments to 26 CFR part 301 under section 6707A of the Code. On September 11, 2008, temporary regulations (TD 9425) relating to the penalty under section 6707A for the failure to include on any return or statement any information required to be disclosed under section 6011 with respect to a reportable transaction were published in the Federal Register (73 FR 52784). A notice of proposed rulemaking (REG– 160868–04) cross-referencing the temporary regulations was published in the Federal Register on the same day (73 FR 52805). No public hearing was requested or held. One written comment responding to the notice of proposed rulemaking was received from the public. This comment was considered and is available for public inspection at http://www.regulations.gov or upon request. Upon due consideration, the proposed regulations are adopted as amended by this Treasury decision, and the corresponding temporary regulations are removed. The revisions are discussed in this preamble. Internal Revenue Service Summary of Comments and Explanation of Revisions Accordingly, the final regulations (TD 9546), that are the subject of FR Doc. 2011–21154, are corrected as follows: 1. On page 51879, column 3, in the preamble, under the paragraph heading ‘‘Explanation of Provisions’’, line 11 from the bottom of the second paragraph, the language ‘‘‘‘that has no market or other value at the place where the property is located’’’’ is corrected to read ‘‘that has no market or other value at the place where the property is located’’. 2. On page 51880, column 2, in the preamble, under the paragraph heading ‘‘Explanation of Provisions’’, line 8 of the column, the language ‘‘Regulations but recommended removing’’ is corrected to read ‘‘Regulations, but recommended removing’’. LaNita VanDyke, Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel, (Procedure and Administration). 26 CFR Part 1 [TD 9546] RIN 1545–BD04 [FR Doc. 2011–22739 Filed 9–6–11; 8:45 am] Definition of Solid Waste Disposal Facilities for Tax-Exempt Bond Purposes; Correction BILLING CODE 4830–01–P Internal Revenue Service (IRS), Treasury. ACTION: Correction to final regulations. AGENCY: This document contains corrections to final regulations (TD 9546) that were published in the Federal Register on Friday, August 19, 2011, on the definition of solid waste disposal facilities for purposes of the rules applicable to tax-exempt bonds issued by State and local governments. These regulations provide guidance to State and local governments that issue tax-exempt bonds to finance solid waste disposal facilities and to taxpayers that use those facilities. DATES: This correction is effective September 7, 2011 and is applicable beginning October 18, 2011. FOR FURTHER INFORMATION CONTACT: Timothy Jones, (202) 622–3980 (not a toll free number). SUPPLEMENTARY INFORMATION: jlentini on DSK4TPTVN1PROD with RULES SUMMARY: Background The final regulations (TD 9546) that are the subject of this correction are VerDate Mar<15>2010 16:57 Sep 06, 2011 Jkt 223001 the Small Business Jobs Act of 2010 that revise the penalty calculation. DATES: Effective Date: These regulations are effective on September 7, 2011. Applicability Date: For dates of applicability, see § 301.6707A–1(f). FOR FURTHER INFORMATION CONTACT: Spence Hanemann, (202) 622–4940 (not a toll-free number). SUPPLEMENTARY INFORMATION: 26 CFR Part 301 [TD 9550] RIN 1545–BF61 Section 6707A and the Failure To Include on Any Return or Statement Any Information Required To Be Disclosed Under Section 6011 With Respect to a Reportable Transaction Internal Revenue Service (IRS), Treasury. ACTION: Final regulations and removal of temporary regulations. AGENCY: This document contains final regulations that provide guidance regarding section 6707A of the Internal Revenue Code (Code) with respect to the penalties applicable to the failure to include on any return or statement any information required to be disclosed under section 6011 with respect to a reportable transaction. These final regulations reflect amendments under SUMMARY: PO 00000 Frm 00044 Fmt 4700 Sfmt 4700 1. 2010 Amendments to Section 6707A On September 27, 2010, the President signed into law the Small Business Jobs Act of 2010, Public Law 111–240 (124 Stat. 2504), section 2041 of which amended section 6707A of the Code. The amendments revise the amount of the penalty to make the penalty proportionate to the decrease in tax shown on the return as a result of the reportable transaction (or which would have resulted from the reportable transaction if it were respected for Federal tax purposes). The amendments also establish maximum and minimum penalty amounts. The amended penalty calculation was made retroactive to penalties assessed after December 31, 2006. To account for the change in the law, these final regulations conform to the statutory language of section 6707A, as amended. These changes are reflected in §§ 301.6707A–1(a) and 301.6707A– 1(e). These final regulations follow the amended statutory language regarding E:\FR\FM\07SER1.SGM 07SER1

Agencies

[Federal Register Volume 76, Number 173 (Wednesday, September 7, 2011)]
[Rules and Regulations]
[Page 55256]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-22739]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9546]
RIN 1545-BD04


Definition of Solid Waste Disposal Facilities for Tax-Exempt Bond 
Purposes; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to final regulations.

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SUMMARY: This document contains corrections to final regulations (TD 
9546) that were published in the Federal Register on Friday, August 19, 
2011, on the definition of solid waste disposal facilities for purposes 
of the rules applicable to tax-exempt bonds issued by State and local 
governments. These regulations provide guidance to State and local 
governments that issue tax-exempt bonds to finance solid waste disposal 
facilities and to taxpayers that use those facilities.

DATES: This correction is effective September 7, 2011 and is applicable 
beginning October 18, 2011.

FOR FURTHER INFORMATION CONTACT: Timothy Jones, (202) 622-3980 (not a 
toll free number).

SUPPLEMENTARY INFORMATION: 

Background

    The final regulations (TD 9546) that are the subject of this 
correction are under section 142 of the Internal Revenue Code.

Need for Correction

    As published August 19, 2001 (76 FR 51879), the final regulations 
(TD 9546) contain errors that may prove to be misleading and are in 
need of clarification.

Correction of Publication

    Accordingly, the final regulations (TD 9546), that are the subject 
of FR Doc. 2011-21154, are corrected as follows:
    1. On page 51879, column 3, in the preamble, under the paragraph 
heading ``Explanation of Provisions'', line 11 from the bottom of the 
second paragraph, the language ````that has no market or other value at 
the place where the property is located'''' is corrected to read ``that 
has no market or other value at the place where the property is 
located''.
    2. On page 51880, column 2, in the preamble, under the paragraph 
heading ``Explanation of Provisions'', line 8 of the column, the 
language ``Regulations but recommended removing'' is corrected to read 
``Regulations, but recommended removing''.

LaNita VanDyke,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel, (Procedure and Administration).
[FR Doc. 2011-22739 Filed 9-6-11; 8:45 am]
BILLING CODE 4830-01-P