PATH Act Changes to Section 1445; Correction, 24484 [2016-09666]
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Federal Register / Vol. 81, No. 80 / Tuesday, April 26, 2016 / Rules and Regulations
a calendar month is the product of the
Federal long-term rate determined
under section 1274(d) for that month,
based on annual compounding,
multiplied by the adjustment factor
described in paragraph (c) of this
section.
(c) Adjustment factor. The adjustment
factor is a percentage equal to—
(1) The excess of 100 percent, over
(2) The product of—
(i) 59 percent, and
(ii) The sum of the maximum rate in
effect under section 1 applicable to
individuals and the maximum rate in
effect under section 1411 applicable to
individuals for the month to which the
adjusted applicable Federal rate applies.
(d) Effective/applicability date. The
rules of this section apply to the
determination of the long-term taxexempt rate and the adjusted Federal
long-term rate beginning with the rates
determined during August 2016 that
apply during September 2016.
Par. 4. Section 1.1288–1 is added to
read as follows:
■
asabaliauskas on DSK3SPTVN1PROD with RULES
(a) In general. In applying section 483
or section 1274 to a tax-exempt
obligation, the applicable Federal rate is
adjusted to take into account the tax
exemption for interest on the obligation.
For each applicable Federal rate
determined under section 1274(d), the
Secretary computes a corresponding
adjusted applicable Federal rate by
multiplying the applicable Federal rate
by the adjustment factor described in
paragraph (b) of this section. The
Internal Revenue Service publishes the
applicable Federal rates and the
adjusted applicable Federal rates for
each month in the Internal Revenue
Bulletin (see § 601.601(d)(2)(ii) of this
chapter).
(b) Adjustment factor. The adjustment
factor is a percentage equal to—
(1) The excess of 100 percent, over
(2) The product of—
(i) 59 percent, and
(ii) The sum of the maximum rate in
effect under section 1 applicable to
individuals and the maximum rate in
effect under section 1411 applicable to
individuals for the month to which the
adjusted applicable Federal rate applies.
(c) Effective/applicability date. The
rules of this section apply to the
determination of adjusted applicable
Federal rates beginning with the rates
17:40 Apr 25, 2016
Jkt 238001
John Dalrymple,
Deputy Commissioner for Services and
Enforcement.
Approved: April 8, 2016.
Mark J. Mazur,
Assistant Secretary of the Treasury (Tax
Policy).
[FR Doc. 2016–09614 Filed 4–25–16; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
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. 3. Section 1.1445–5 is amended
by revising the last sentence of
paragraph (b)(3)(ii)(A) to read as
follows:
■
§ 1.1445–5 Special rules concerning
distributions and other transactions by
corporations, partnerships, trusts, and
estates.
*
Internal Revenue Service
26 CFR Part 1
[TD 9751]
RIN 1545–BN22
PATH Act Changes to Section 1445;
Correction
Internal Revenue Service (IRS),
Treasury.
ACTION: Correcting amendment.
AGENCY:
*
*
*
*
(b) * * *
(3) * * *
(ii) * * *
(A) * * * In general, a foreign person
is a nonresident alien individual,
foreign corporation, foreign partnership,
foreign trust, or foreign estate, but not a
qualified foreign pension fund (as
defined in section 897(l)) or an entity all
of the interests of which are held by a
qualified foreign pension fund.
*
*
*
*
*
This document contains
corrections to final regulations (TD
9721) that were published in the
Federal Register on Friday, February 19,
2016 (81 FR 8398). The final regulations
are regarding the taxation of, and
withholding on, foreign persons upon
certain dispositions of, and distributions
with respect to, United States real
property interests (USRPIs).
DATES: This correction is effective April
26, 2016 and is applicable on or after
February 19, 2016.
FOR FURTHER INFORMATION CONTACT:
Milton M. Cahn or David A. Levine of
the Office of Associate Chief Counsel
(International) at (202) 317–6937 (not a
toll-free number).
SUPPLEMENTARY INFORMATION:
Martin V. Franks,
Chief, Publications and Regulations Branch,
Legal Processing Division, Associate Chief
Counsel, (Procedure and Administration).
Background
The final regulations (TD 9751) that
are the subject of this correction are
under section 897 and1445 of the
Internal Revenue Code.
ACTION:
SUMMARY:
§ 1.1288–1 Adjustment of applicable
Federal rate for tax-exempt obligations.
VerDate Sep<11>2014
determined during August 2016 that
apply during September 2016.
Need for Correction
As published, the final regulations
(TD 9751) 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:
PO 00000
Frm 00030
Fmt 4700
Sfmt 4700
[FR Doc. 2016–09666 Filed 4–25–16; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF JUSTICE
Bureau of Prisons
28 CFR Part 550
[BOP–1168–F]
RIN 1120–AB68
Drug Abuse Treatment Program
Bureau of Prisons, Justice.
Final rule.
AGENCY:
In this document, the Bureau
of Prisons (Bureau) revises the
Residential Drug Abuse Treatment
Program (RDAP) regulations to allow
greater inmate participation in the
program and positively impact
recidivism rates.
DATES: This rule is effective on May 26,
2016.
FOR FURTHER INFORMATION CONTACT:
Sarah Qureshi, Office of General
Counsel, Bureau of Prisons, phone (202)
353–8248.
SUPPLEMENTARY INFORMATION: In this
document, the Bureau revises the
Residential Drug Abuse Treatment
Program (RDAP) regulations to allow
greater inmate participation in the
SUMMARY:
E:\FR\FM\26APR1.SGM
26APR1
]]>Agencies
[Federal Register Volume 81, Number 80 (Tuesday, April 26, 2016)]
[Rules and Regulations]
[Page 24484]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-09666]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[TD 9751]
RIN 1545-BN22
PATH Act Changes to Section 1445; Correction
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Correcting amendment.
-----------------------------------------------------------------------
SUMMARY: This document contains corrections to final regulations (TD
9721) that were published in the Federal Register on Friday, February
19, 2016 (81 FR 8398). The final regulations are regarding the taxation
of, and withholding on, foreign persons upon certain dispositions of,
and distributions with respect to, United States real property
interests (USRPIs).
DATES: This correction is effective April 26, 2016 and is applicable on
or after February 19, 2016.
FOR FURTHER INFORMATION CONTACT: Milton M. Cahn or David A. Levine of
the Office of Associate Chief Counsel (International) at (202) 317-6937
(not a toll-free number).
SUPPLEMENTARY INFORMATION:
Background
The final regulations (TD 9751) that are the subject of this
correction are under section 897 and1445 of the Internal Revenue Code.
Need for Correction
As published, the final regulations (TD 9751) 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
0
Paragraph 1. The authority citation for part 1 continues to read in
part as follows:
Authority: 26 U.S.C. 7805 * * *
0
Par. 3. Section 1.1445-5 is amended by revising the last sentence of
paragraph (b)(3)(ii)(A) to read as follows:
Sec. 1.1445-5 Special rules concerning distributions and other
transactions by corporations, partnerships, trusts, and estates.
* * * * *
(b) * * *
(3) * * *
(ii) * * *
(A) * * * In general, a foreign person is a nonresident alien
individual, foreign corporation, foreign partnership, foreign trust, or
foreign estate, but not a qualified foreign pension fund (as defined in
section 897(l)) or an entity all of the interests of which are held by
a qualified foreign pension fund.
* * * * *
Martin V. Franks,
Chief, Publications and Regulations Branch, Legal Processing Division,
Associate Chief Counsel, (Procedure and Administration).
[FR Doc. 2016-09666 Filed 4-25-16; 8:45 am]
BILLING CODE 4830-01-P
