Regulations Enabling Elections for Certain Transaction Under Section 336(e); Correction, 53026-53027 [2013-20491]
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53026
Federal Register / Vol. 78, No. 167 / Wednesday, August 28, 2013 / Rules and Regulations
02]) (the proposed’’ is corrected to read
‘‘947 [73 FR 49965]) (the proposed’’.
42324). In that final rule, which became
effective on the date of publication, the
FAA amended its regulations to create
new certification and qualification
requirements for pilots in air carrier
operations. The FAA inadvertently
listed an incorrect amendment number
for that final rule. This document
corrects that error.
DEPARTMENT OF THE TREASURY
Effective: August 28, 2013.
Regulations Enabling Elections for
Certain Transaction Under Section
336(e); Correction
DEPARTMENT OF THE TREASURY
Internal Revenue Service (IRS),
Treasury.
26 CFR Part 1
DATES:
FOR FURTHER INFORMATION CONTACT:
For
technical questions concerning this
correction contact Barbara Adams, Air
Transportation Division, AFS–200,
Federal Aviation Administration, 800
Independence Avenue SW.,
Washington, DC 20591; telephone (202)
267–8166; facsimile (202) 267–5299,
email barbara.adams@faa.gov.
For legal questions concerning this
correction contact Anne Moore, Office
of the Chief Counsel—International
Law, Legislation, and Regulations
Division, AGC–240, Federal Aviation
Administration, 800 Independence
Avenue SW., Washington, DC 20591;
telephone (202) 267–3123; facsimile
(202) 267–7971, email anne.moore@
faa.gov.
SUPPLEMENTARY INFORMATION:
On July 15, 2013, the FAA published
a final rule entitled, ‘‘Pilot Certification
and Qualification Requirements for Air
Carrier Operations’’ (78 FR 42324). In
that final rule, which became effective
July 15, 2013, the FAA amended part
141. The FAA inadvertently listed the
incorrect amendment number for part
141 in the header information of the
final rule as 141–1. The correct
amendment number is 141–17.
Correction
wreier-aviles on DSK5TPTVN1PROD with RULES
In the final rule, FR Doc. 2013–16849,
published on July 15, 2013, at 78 FR
42324, make the following correction:
1. On page 42324 in the heading of
the final rule, revise ‘‘Amdt. No. 141–1’’
to read as ‘‘Amdt. No. 141–17’’.
Issued in Washington, DC, under the
authority provided by 49 U.S.C. 106(f),
44701(a) and Secs. 216–217, Public Law 111–
216, 124 Stat. 2348 on August 23, 2013.
Brenda D. Courtney,
Acting Director, Office of Rulemaking.
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26 CFR Part 1
[TD 9619]
Martin V. Franks,
Chief, Publications and Regulations Branch,
Legal Processing Division, Associate Chief
Counsel (Procedure and Administration).
[FR Doc. 2013–20495 Filed 8–27–13; 8:45 am]
BILLING CODE 4830–01–P
RIN 1545–BD84
AGENCY:
ACTION:
Correction to final regulations.
This document describes
corrections to final regulations [TD
9619] that provide guidance under
section 336(e) of the Internal Revenue
Code (CODE), which authorizes the
issuance of regulations under which an
election may be made to treat sale,
exchange or distribution of at least 80
percent of the voting power and value
of the stock of a corporation (target) as
a sale of all its underlying assets. These
regulations were published in the
Federal Register on Wednesday, May
15, 2013.
SUMMARY:
This correction is effective on
August 28, 2013, and is applicable
beginning May 15, 2013.
DATES:
Background
[FR Doc. 2013–20962 Filed 8–27–13; 8:45 am]
Internal Revenue Service
FOR FURTHER INFORMATION CONTACT:
Mark J. Weiss, (202) 622–7930 (not a
toll-free number).
SUPPLEMENTARY INFORMATION:
Background
The final regulations (TD 9619) that
are the subject of this correction are
under section 336(e) of the Code.
Need for Correction
As published May 15, 2013 [78 FR
28467] TD 9619 contains errors that may
prove to be misleading and is in need
of clarification.
Correction of Publication
Accordingly, the publication of the
final regulations [TD 9619], which were
the subject of FR Doc. 2013–11522, is
corrected as follows:
1. On page 28467, column 2, in the
preamble under the caption ‘‘Paperwork
Reduction Act’’, the fourth line from the
top, the language, ‘‘in §§ 1.336–2(h) and
1.336–4(c)(4). This’’ is corrected to read
‘‘in §§ 1.336–2(h) and 1.336–4(c). This’’.
2. On page 28467, column 2, in the
preamble under the caption
‘‘Background’’, second paragraph, fifth
line, the language, ‘‘947 [73 FR 49965–
PO 00000
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Internal Revenue Service
[TD 9619]
RIN 1545–BD84
Regulations Enabling Elections for
Certain Transaction Under Section
336(e); Correction
Internal Revenue Service (IRS),
Treasury.
ACTION: Correcting amendment.
AGENCY:
This document contains
amendments to correct errors in final
regulations [TD 9619] that provide
guidance under section 336(e) of the
Internal Revenue Code (CODE), which
authorizes the issuance of regulations
under which an election may be made
to treat sale, exchange or distribution of
at least 80 percent of the voting power
and value of the stock of a corporation
(target) as a sale of all its underlying
assets. These regulations were
published in the Federal Register on
Wednesday, May 15, 2013.
DATES: This correction is effective on
August 28, 2013, and is applicable
beginning May 15, 2013.
FOR FURTHER INFORMATION CONTACT:
Mark J. Weiss, (202) 622–7930 (not a
toll-free number).
SUPPLEMENTARY INFORMATION:
SUMMARY:
Background
The final regulations (TD 9619) that
are the subject of this correction are
under section 336(e) of the Code.
Need for Correction
As published May 15, 2013 [78 FR
28467] TD 9619 contains errors 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 amendments:
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Federal Register / Vol. 78, No. 167 / Wednesday, August 28, 2013 / Rules and Regulations
PART 1—INCOME TAXES
Paragraph 1. The authority citation
for part 1 continues to read in part as
follows:
39 CFR Part 111
Balloting Materials Postage
Authority: 26 U.S.C. 7805 * * *
Par. 2. In § 1.336–2, paragraphs
(b)(1)(i)(C) and (h)(8) Example 2. (ii) are
revised to read as follows:
§ 1.336–2 Availability, mechanics, and
consequences of section 336(e) election.
*
*
*
*
*
(b) * * *
(1) * * *
(i) * * *
(C) Tiered targets. In the case of
parent-subsidiary chains of corporations
making section 336(e) elections, the
deemed asset disposition of a higher-tier
subsidiary is considered to precede the
deemed asset disposition of a lowersubsidiary.
*
*
*
*
*
(h) * * *
(8) * * *
Example 2. * * *
(ii) Making of election for S
Corporation Target. Because S
Corporation Target is an S Corporation
Target, in order to make a section 336(e)
election for the qualified stock
disposition of S Corporation Target, the
requirements of paragraph (h)(3) of this
section must be satisfied. On or before
the due date of S Corporation Target’s
Federal income tax return that includes
Date 1, A, B, C, and S Corporation
Target must enter into a written, binding
agreement to make a section 336(e)
election; S Corporation Target must
retain a copy of the written agreement;
and S Corporation Target must attach
the section 336(e) election statement to
its timely filed Federal income tax
return for the taxable year that includes
Date 1.
*
*
*
*
*
■ Par. 3. Section 1.1502–13 is amended
by revising the heading of paragraph
(f)(5)(ii)(C) to read as follows:
§ 1.1502–13
Intercompany transactions.
*
*
*
*
*
(f) * * *
(5) * * *
(ii) * * *
(C) Sections 338(h)(10) and 336(e).
* * *
*
*
*
*
*
Martin V. Franks,
Chief, Publications and Regulations Branch,
Legal Processing Division, Associate Chief
Counsel, (Procedure and Administration).
[FR Doc. 2013–20491 Filed 8–27–13; 8:45 am]
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Comments and Discussion
Postal ServiceTM.
ACTION: Final rule.
AGENCY:
■
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• Return postage is guaranteed
through a postage due account.
• Postage on the ballot is prepaid by
stamps, meter, or Permit Reply Mail.
POSTAL SERVICE
■
The Postal Service will revise
Mailing Standards of the United States
Postal Service, Domestic Mail Manual
(DMM®) 703.8.0 to require that all ballot
types include in the balloting materials
a marking to indicate that the proper
amount of postage must be paid and the
balloting materials must also indicate
the specific amount of postage for the
return of ballots, unless mailed under
certain specified exceptions.
DATES: Effective date: October 7, 2013.
FOR FURTHER INFORMATION CONTACT:
Steven Monteith at (202) 268–6983, or
Garry Rodriguez at 202–268–7281.
SUPPLEMENTARY INFORMATION: On May 2,
2013, the Postal Service published a
proposed rule (78 FR 25677–25678)
inviting comments on revisions to the
standards for balloting materials. In
response to this proposed rule, the
Postal Service received several
comments that are summarized and
discussed below.
After considering the comments
received, the Postal Service will revise
the DMM to require that the balloting
materials for all types of ballots,
whether disseminated hardcopy or
electronically, must indicate in a
prominent location the proper amount
of First-Class Mail® postage that must be
paid. This information must be included
in the balloting materials (i.e., on the
ballot, ballot instructions, mailing
instructions, or the envelope) with the
marking ‘‘First-Class Mail postage must
be applied.’’ Alternatively, the marking
‘‘Apply First-Class Mail postage here’’
could be printed in the upper right
corner of the address side of the
envelope used by the voter to return the
ballot to election officials. The Postal
Service will also accept approved
variations of the above markings.
Additionally, this final rule requires
that the balloting materials indicate in a
prominent location the specific amount
of First-Class Mail postage required for
the return of the ballot to election
officials.
The marking requirements will not
apply to balloting materials that meet
one of the following exceptions:
• The balloting materials are qualified
under the special exemption for military
and overseas voting.
• The ballot is returned under
Business Reply Mail® service.
SUMMARY:
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53027
The Postal Service received fourteen
formal responses to the proposed rule.
Thirteen responses were received from
State election officials and one comment
was received from a consumer. Several
responses included comments about
more than one issue. Comments and
responses are as follows.
One commenter pointed out that in
the preamble the word ‘‘sufficient’’ was
included in the markings to indicate
that the proper amount of postage must
be paid, but was omitted in the
proposed text of DMM 703.8.1.2. We
regret any confusion, and note that the
word ‘‘sufficient’’ will not be required
in the markings required by the final
rule.
Some commenters indicated that they
are already including different
variations of the proposed markings.
The Postal Service appreciates this
proactive approach and will make the
necessary changes to also allow the use
of approved versions.
One commenter questioned the
requirement to indicate the specific
amount of postage required, based on
the current use of ForeverTM stamps.
The value of a Forever stamp is widely
publicized as the current First-Class
Mail single-piece 1-ounce price. When a
Forever stamp is used on a piece
requiring postage greater than the FirstClass Mail single-piece 1-ounce price,
additional postage must be affixed.
Other commenters voiced practical
concerns about the requirement to
indicate the specific amount of postage
for the return of the ballot. These
concerns included the need to order
election envelopes in bulk, management
of excess inventory, and the effect of
annual price changes. In response to
these concerns, the definition of
‘‘balloting materials’’ has been
broadened to include ‘‘mailing
instructions.’’ This will provide election
officials an alternative to printing the
markings on the ballot, voting
instructions, or return envelope.
Some commenters expressed concerns
regarding the ability of election officials
to determine the specific postage
required to return the ballot. The
amount of postage communicated to
voters should be based only on what is
required to be returned. Local postal
personnel are available to work with
election officials to determine the
amount of postage which should be
applied.
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]]>Agencies
[Federal Register Volume 78, Number 167 (Wednesday, August 28, 2013)]
[Rules and Regulations]
[Pages 53026-53027]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-20491]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[TD 9619]
RIN 1545-BD84
Regulations Enabling Elections for Certain Transaction Under
Section 336(e); Correction
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Correcting amendment.
-----------------------------------------------------------------------
SUMMARY: This document contains amendments to correct errors in final
regulations [TD 9619] that provide guidance under section 336(e) of the
Internal Revenue Code (CODE), which authorizes the issuance of
regulations under which an election may be made to treat sale, exchange
or distribution of at least 80 percent of the voting power and value of
the stock of a corporation (target) as a sale of all its underlying
assets. These regulations were published in the Federal Register on
Wednesday, May 15, 2013.
DATES: This correction is effective on August 28, 2013, and is
applicable beginning May 15, 2013.
FOR FURTHER INFORMATION CONTACT: Mark J. Weiss, (202) 622-7930 (not a
toll-free number).
SUPPLEMENTARY INFORMATION:
Background
The final regulations (TD 9619) that are the subject of this
correction are under section 336(e) of the Code.
Need for Correction
As published May 15, 2013 [78 FR 28467] TD 9619 contains errors
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 amendments:
[[Page 53027]]
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. In Sec. 1.336-2, paragraphs (b)(1)(i)(C) and (h)(8) Example 2.
(ii) are revised to read as follows:
Sec. 1.336-2 Availability, mechanics, and consequences of section
336(e) election.
* * * * *
(b) * * *
(1) * * *
(i) * * *
(C) Tiered targets. In the case of parent-subsidiary chains of
corporations making section 336(e) elections, the deemed asset
disposition of a higher-tier subsidiary is considered to precede the
deemed asset disposition of a lower-subsidiary.
* * * * *
(h) * * *
(8) * * *
Example 2. * * *
(ii) Making of election for S Corporation Target. Because S
Corporation Target is an S Corporation Target, in order to make a
section 336(e) election for the qualified stock disposition of S
Corporation Target, the requirements of paragraph (h)(3) of this
section must be satisfied. On or before the due date of S Corporation
Target's Federal income tax return that includes Date 1, A, B, C, and S
Corporation Target must enter into a written, binding agreement to make
a section 336(e) election; S Corporation Target must retain a copy of
the written agreement; and S Corporation Target must attach the section
336(e) election statement to its timely filed Federal income tax return
for the taxable year that includes Date 1.
* * * * *
0
Par. 3. Section 1.1502-13 is amended by revising the heading of
paragraph (f)(5)(ii)(C) to read as follows:
Sec. 1.1502-13 Intercompany transactions.
* * * * *
(f) * * *
(5) * * *
(ii) * * *
(C) Sections 338(h)(10) and 336(e). * * *
* * * * *
Martin V. Franks,
Chief, Publications and Regulations Branch, Legal Processing Division,
Associate Chief Counsel, (Procedure and Administration).
[FR Doc. 2013-20491 Filed 8-27-13; 8:45 am]
BILLING CODE 4830-01-P
