Guidance Under Section 851 Relating to Investments in Stock and Securities; Correction, 17082 [2019-08285]
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Federal Register / Vol. 84, No. 79 / Wednesday, April 24, 2019 / Rules and Regulations
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21 CFR 314.81(b) are approved under
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BILLING CODE 4164–01–P
Internal Revenue Service
26 CFR Part 1
[TD 9851]
RIN 1545–BN55
Guidance Under Section 851 Relating
to Investments in Stock and Securities;
Correction
Internal Revenue Service (IRS),
Treasury.
ACTION: Correcting amendments.
AGENCY:
This document contains
corrections to final regulations (TD
9851) that were published in the
Federal Register on Tuesday, March 19,
2019. The final regulations provide
guidance relating to the income test
used to determine whether a
corporation may qualify as a regulated
investment company (RIC) for Federal
income tax purposes.
DATES: This correction is effective on
April 24, 2019 and is applicable to
taxable years that begin after June 17,
2019.
FOR FURTHER INFORMATION CONTACT:
Matthew Howard at (202) 317–7053 (not
a toll-free number).
SUPPLEMENTARY INFORMATION:
SUMMARY:
Background
The final regulations (TD 9851)
published on March 19, 2019 (84 FR
9959) that are the subject of this
correction are issued under section 851
of the Internal Revenue Code.
Need for Correction
As published, the final regulations
(TD 9851) contain errors that need to be
corrected.
List of Subjects in 26 CFR Part 1
Income taxes, Reporting and
recordkeeping requirements.
Correction of Publication
Accordingly, 26 CFR part 1 is
amended 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:
■
Dated: April 18, 2019.
Lowell J. Schiller,
Principal Associate Commissioner for Policy.
[FR Doc. 2019–08284 Filed 4–23–19; 8:45 am]
DEPARTMENT OF THE TREASURY
Authority: 26 U.S.C. 7805 * * *
Par. 2. Section 1.851–2 is amended by
revising paragraph (b)(1)(i)(F) and the
first sentence of paragraph (b)(2)(iii) to
read as follows:
■
§ 1.851–2
*
VerDate Sep<11>2014
15:47 Apr 23, 2019
Jkt 247001
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*
Limitations.
*
Frm 00028
*
Fmt 4700
*
Sfmt 4700
(b) * * *
(1) * * *
(i) * * *
(F) Other income (including but not
limited to gains from options, futures, or
forward contracts) derived with respect
to the corporation’s business of
investing in such stock, securities, or
currencies.
*
*
*
*
*
(2) * * *
(iii) If an amount is included in gross
income of the corporation referred to in
paragraph (b)(1) of this section under
section 951(a)(1) or 1293(a) and is
derived with respect to that
corporation’s business of investing in
stock, securities, or currencies, then the
amount is other income described in
section 851(b)(2)(A) and paragraph
(b)(1)(i)(F) of this section. * * *
*
*
*
*
*
Martin V. Franks,
Chief, Publications and Regulations Branch,
Legal Processing Division, Associate Chief
Counsel (Procedure and Administration).
[FR Doc. 2019–08285 Filed 4–23–19; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF DEFENSE
Department of the Navy
32 CFR Part 726
[Docket ID: USN–2019–HQ–0004]
RIN 0703–AB16
Payments of Amounts Due Mentally
Incompetent Members of the Naval
Service
Department of the Navy,
Department of Defense.
ACTION: Final rule.
AGENCY:
This final rule removes the
Department of the Navy (DON)
regulation concerning Payments of
Amounts Due Mentally Incompetent
Members of the Naval Service. Removal
is appropriate because the regulation
does not affect how the public engages
the DON regarding these payments and
does not place obligations on the public.
The Department of Defense, the
Secretary of the Navy, and the Bureau
of Medicine and Surgery (BUMED) issue
internal instructions that establish
requirements for competency boards,
the process for determining mental
incompetence, and the process and
requirements for making payments
within the parameters established by
many controlling statutes. These
internal instructions do not require
publication in the Code of Federal
Regulations.
SUMMARY:
E:\FR\FM\24APR1.SGM
24APR1
]]>Agencies
[Federal Register Volume 84, Number 79 (Wednesday, April 24, 2019)]
[Rules and Regulations]
[Page 17082]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-08285]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[TD 9851]
RIN 1545-BN55
Guidance Under Section 851 Relating to Investments in Stock and
Securities; Correction
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Correcting amendments.
-----------------------------------------------------------------------
SUMMARY: This document contains corrections to final regulations (TD
9851) that were published in the Federal Register on Tuesday, March 19,
2019. The final regulations provide guidance relating to the income
test used to determine whether a corporation may qualify as a regulated
investment company (RIC) for Federal income tax purposes.
DATES: This correction is effective on April 24, 2019 and is applicable
to taxable years that begin after June 17, 2019.
FOR FURTHER INFORMATION CONTACT: Matthew Howard at (202) 317-7053 (not
a toll-free number).
SUPPLEMENTARY INFORMATION:
Background
The final regulations (TD 9851) published on March 19, 2019 (84 FR
9959) that are the subject of this correction are issued under section
851 of the Internal Revenue Code.
Need for Correction
As published, the final regulations (TD 9851) contain errors that
need to be corrected.
List of Subjects in 26 CFR Part 1
Income taxes, Reporting and recordkeeping requirements.
Correction of Publication
Accordingly, 26 CFR part 1 is amended 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. 2. Section 1.851-2 is amended by revising paragraph (b)(1)(i)(F)
and the first sentence of paragraph (b)(2)(iii) to read as follows:
Sec. 1.851-2 Limitations.
* * * * *
(b) * * *
(1) * * *
(i) * * *
(F) Other income (including but not limited to gains from options,
futures, or forward contracts) derived with respect to the
corporation's business of investing in such stock, securities, or
currencies.
* * * * *
(2) * * *
(iii) If an amount is included in gross income of the corporation
referred to in paragraph (b)(1) of this section under section 951(a)(1)
or 1293(a) and is derived with respect to that corporation's business
of investing in stock, securities, or currencies, then the amount is
other income described in section 851(b)(2)(A) and paragraph
(b)(1)(i)(F) of this section. * * *
* * * * *
Martin V. Franks,
Chief, Publications and Regulations Branch, Legal Processing Division,
Associate Chief Counsel (Procedure and Administration).
[FR Doc. 2019-08285 Filed 4-23-19; 8:45 am]
BILLING CODE 4830-01-P
