Reporting of Original Issue Discount on Tax-Exempt Obligations; Basis and Transfer Reporting by Securities Brokers for Debt Instruments and Options; Correction, 24702 [2016-09698]

Download as PDF 24702 Federal Register / Vol. 81, No. 81 / Wednesday, April 27, 2016 / Rules and Regulations corrected to read ‘‘premium for a taxexempt obligation that’’. DEPARTMENT OF THE TREASURY Internal Revenue Service Martin V. Franks, Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration). 26 CFR Part 1 [TD 9750] [FR Doc. 2016–09698 Filed 4–26–16; 8:45 am] RIN 1545–BN59 BILLING CODE 4830–01–P Reporting of Original Issue Discount on Tax-Exempt Obligations; Basis and Transfer Reporting by Securities Brokers for Debt Instruments and Options; Correction Internal Revenue Service (IRS), Treasury. ACTION: Final regulations; correction. AGENCY: This document contains corrections to final regulations (TD 9750) that published in the Federal Register on Thursday, February 18, 2016 (81 FR 8149). The final regulations relates to information reporting by brokers for transactions involving debt instruments and options, including the reporting of original issue discount (OID) on tax-exempt obligations, the treatment of certain holder elections for reporting a taxpayer’s adjusted basis in a debt instrument, and transfer reporting for section 1256 options and debt instruments. SUMMARY: This correction is effective April 27, 2016 and applicable February 18, 2016. DATES: FOR FURTHER INFORMATION CONTACT: Pamela Lew at (202) 317–7053 (not a toll-free number). SUPPLEMENTARY INFORMATION: Background The final regulation (TD 9750) that is the subject of this correction is under section 6045 of the Internal Revenue Code. Need for Correction jstallworth on DSK7TPTVN1PROD with RULES Correction of Publication Accordingly, the final regulation (TD 9750), that is the subject of FR Doc. 2016–03429, is corrected as follows: 1. On page 8151, in the preamble, third column, third line from the bottom of the first full paragraph, ‘‘OID and acquisition discount on all tax-’’ is corrected to read ‘‘OID and acquisition premium on all tax-’’. 2. On page 8151, in the preamble, third column, third line from the bottom of the last full paragraph, ‘‘discount for a tax-exempt obligation that’’ is 15:13 Apr 26, 2016 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 * * * DEPARTMENT OF THE TREASURY Par. 2. Section 1.6045–1 is amended by revising the third sentence of paragraph (n)(4) to read as follows: ■ Internal Revenue Service 26 CFR Part 1 [TD 9750] § 1.6045–1 Returns of information of brokers and barter exchanges. RIN 1545–BM59 * Reporting of Original Issue Discount on Tax-Exempt Obligations; Basis and Transfer Reporting by Securities Brokers for Debt Instruments and Options; Correction Internal Revenue Service (IRS), Treasury. ACTION: Correcting amendment. AGENCY: This document contains corrections to final regulations (TD 9750) that were published in the Federal Register on Thursday, February 18, 2016 (81 FR 8149). The final regulations relate to information reporting by brokers for transactions involving debt instruments and options, including the reporting of original issue discount (OID) on tax-exempt obligations, the treatment of certain holder elections for reporting a taxpayer’s adjusted basis in a debt instrument, and transfer reporting for section 1256 options and debt instruments. SUMMARY: This correction is effective April 27, 2016 and applicable February 18, 2016. DATES: * * * * (n) * * * (4) * * * See paragraph (n)(11) of this section for the treatment of an election described in paragraph (n)(4)(iii) of this section (election to accrue market discount based on a constant yield) and an election described in paragraph (n)(4)(iv) of this section (election to treat all interest as OID). * * * * * § 1.6045A–1 [Corrected] Par. 3. Section 1.6045A–1 is amended by removing ‘‘and;’’ at the end of paragraphs (b)(3)(ix) and (b)(4)(iii) and adding ‘‘; and’’ in its place. ■ § 1.6049–9 [Corrected] Par. 4. Section 1.6049–9(c) is amended by revising the citation ‘‘§ 1.6049–10T’’ to read ‘‘§ 1.6049–10’’ in the last sentence. ■ Martin V. Franks, Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration). [FR Doc. 2016–09697 Filed 4–26–16; 8:45 am] BILLING CODE 4830–01–P FOR FURTHER INFORMATION CONTACT: As published, the final regulation (TD 9750) contains errors that may prove to be misleading and are in need of clarification. VerDate Sep<11>2014 Correction of Publication Jkt 238001 Pamela Lew at (202) 317–7053 (not a toll-free number). SUPPLEMENTARY INFORMATION: DEPARTMENT OF COMMERCE Background 37 CFR Part 42 The final regulations (TD 9750) that are the subject of this correction are under section 6045, 6045A, and 6049 of the Internal Revenue Code. [Docket No. PTO–P–2015–0053] Need for Correction As published, the final regulations (TD 9750) 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. PO 00000 Frm 00010 Fmt 4700 Sfmt 4700 Patent and Trademark Office RIN 0651–AD01 Amendments to the Rules of Practice for Trials Before the Patent Trial and Appeal Board; Correction United States Patent and Trademark Office, Commerce. ACTION: Final rule; correction. AGENCY: The United States Patent and Trademark Office (Office) published a final rule in the Federal Register on SUMMARY: E:\FR\FM\27APR1.SGM 27APR1

Agencies

[Federal Register Volume 81, Number 81 (Wednesday, April 27, 2016)]
[Rules and Regulations]
[Page 24702]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-09698]



[[Page 24702]]

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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9750]
RIN 1545-BN59


Reporting of Original Issue Discount on Tax-Exempt Obligations; 
Basis and Transfer Reporting by Securities Brokers for Debt Instruments 
and Options; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Final regulations; correction.

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SUMMARY: This document contains corrections to final regulations (TD 
9750) that published in the Federal Register on Thursday, February 18, 
2016 (81 FR 8149). The final regulations relates to information 
reporting by brokers for transactions involving debt instruments and 
options, including the reporting of original issue discount (OID) on 
tax-exempt obligations, the treatment of certain holder elections for 
reporting a taxpayer's adjusted basis in a debt instrument, and 
transfer reporting for section 1256 options and debt instruments.

DATES: This correction is effective April 27, 2016 and applicable 
February 18, 2016.

FOR FURTHER INFORMATION CONTACT: Pamela Lew at (202) 317-7053 (not a 
toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The final regulation (TD 9750) that is the subject of this 
correction is under section 6045 of the Internal Revenue Code.

Need for Correction

    As published, the final regulation (TD 9750) contains errors that 
may prove to be misleading and are in need of clarification.

Correction of Publication

    Accordingly, the final regulation (TD 9750), that is the subject of 
FR Doc. 2016-03429, is corrected as follows:
    1. On page 8151, in the preamble, third column, third line from the 
bottom of the first full paragraph, ``OID and acquisition discount on 
all tax-'' is corrected to read ``OID and acquisition premium on all 
tax-''.
    2. On page 8151, in the preamble, third column, third line from the 
bottom of the last full paragraph, ``discount for a tax-exempt 
obligation that'' is corrected to read ``premium for a tax-exempt 
obligation that''.

Martin V. Franks,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel (Procedure and Administration).
[FR Doc. 2016-09698 Filed 4-26-16; 8:45 am]
BILLING CODE 4830-01-P