Guidance Under Section 958 on Determining Stock Ownership; Correction, 10305-10306 [2022-03612]

Download as PDF jspears on DSK121TN23PROD with RULES1 Federal Register / Vol. 87, No. 37 / Thursday, February 24, 2022 / Rules and Regulations Note 1 to paragraph (g)(2): Guidance for accomplishing the actions required by paragraph (g)(2) of this AD can be found in Boeing Multi Operator Message MOM– MOM–22–0041–01B(R1), dated February 1, 2022; Boeing Multi Operator Message MOM– MOM–22–0017–01B(R2), dated February 1, 2022; Boeing Flight Crew Operations Manual Bulletin TBCN–28, ‘‘Radio Altimeter Anomalies due to 5G C-Band Wireless Broadband Interference in the United States,’’ dated January 17, 2022; Boeing Flight Crew Operations Manual Bulletin TBC–30 R1, ‘‘Radio Altimeter Anomalies due to 5G CBand Wireless Broadband Interference in the United States,’’ dated February 4, 2022; Boeing Flight Crew Operations Manual Bulletin TBCE–32 R1, ‘‘Radio Altimeter Anomalies due to 5G C-Band Wireless Broadband Interference in the United States,’’ dated February 4, 2022; and Boeing Flight Crew Operations Manual Bulletin TBC–117 R1, ‘‘Radio Altimeter Anomalies due to 5G CBand Wireless Broadband Interference in the United States,’’ dated February 4, 2022. (2) For more information about this AD for Model 737–600, –700, –700C, –800, –900, and –900ER series airplanes, contact Dean Thompson, Senior Aerospace Engineer, Systems and Equipment Section, FAA, Seattle ACO Branch, 2200 South 216th St., Des Moines, WA 98198; phone and fax: 206– 231–3165; email: dean.r.thompson@faa.gov. (3) For service information identified in this AD that is not incorporated by reference, contact Boeing Commercial Airplanes, Attention: Contractual & Data Services (C&DS), 2600 Westminster Blvd., MC 110 SK57, Seal Beach, CA 90740–5600; telephone 562–797–1717; internet https:// www.myboeingfleet.com. (h) Alternative Methods of Compliance (AMOCs) (1) For Model 737–100, –200, –200C, –300, –400, and –500 series airplanes: The Manager, Los Angeles ACO Branch, FAA, has the authority to approve AMOCs for this AD, if requested using the procedures found in 14 CFR 39.19. In accordance with 14 CFR 39.19, send your request to your principal inspector or responsible Flight Standards Office, as appropriate. If sending information directly to the manager of the certification office, send it to the attention of the person identified in paragraph (i)(1) of this AD. Information may be emailed to: 9-ANMLAACO-AMOC-Requests@faa.gov. For Model 737–600, –700, –700C, –800, –900, and –900ER series airplanes: The Manager, Seattle ACO Branch, FAA, has the authority to approve AMOCs for this AD, if requested using the procedures found in 14 CFR 39.19. In accordance with 14 CFR 39.19, send your request to your principal inspector or responsible Flight Standards Office, as appropriate. If sending information directly to the manager of the certification office, send it to the attention of the person identified in paragraph (i)(2) of this AD. Information may be emailed to: 9-ANMSeattle-ACO-AMOC-Requests@faa.gov. (2) Before using any approved AMOC, notify your appropriate principal inspector, or lacking a principal inspector, the manager of the responsible Flight Standards Office. (3) AMOCs approved for AD 2021–23–12, Amendment 39–21810 (86 FR 69984, December 9, 2021) providing relief for specific radio altimeter installations are approved as AMOCs for the provisions of this AD. [FR Doc. 2022–03967 Filed 2–22–22; 11:15 am] (i) Related Information (1) For more information about this AD for Model 737–100, –200, –200C, –300, –400, and –500 series airplanes, contact Jeffrey W. Palmer, Aerospace Engineer, Systems and Equipment Section, FAA, Los Angeles ACO Branch, 3960 Paramount Boulevard, Lakewood, CA 90712–4137; phone: 562–627– 5351; email: jeffrey.w.palmer@faa.gov. VerDate Sep<11>2014 16:01 Feb 23, 2022 Jkt 256001 (j) Material Incorporated by Reference None. Issued on February 16, 2022. Lance T. Gant, Director, Compliance & Airworthiness Division, Aircraft Certification Service. BILLING CODE 4910–13–C DEPARTMENT OF TRANSPORTATION Federal Highway Administration 23 CFR Part 1 [RIN 2125–AG04] Diversion of Highway Revenues; Removal of Obsolete Regulation Correction In rule document 2022–03173 appearing on pages 8411–8413 in the issue of Tuesday, February 15, 2022, make the following change. On page 8413, in column 1, in lines 15–20, the words of issuance and regulatory instructions should read as follows (which removes 23 § CFR 1.28 instead of 23 CFR part 1): In consideration of the foregoing, FHWA amends 23 CFR part 1 as follows: PART 1—GENERAL 1. The authority citation for part 1 continues to read as follows: ■ Authority: 23 U.S.C. 315, 49 CFR 1.48(b). § 1.28 [Removed and Reserved] 2. Section 1.28 is removed and reserved. ■ [FR Doc. C1–2022–03173 Filed 2–23–22; 8:45 am] BILLING CODE 0099–10–P PO 00000 Frm 00009 Fmt 4700 Sfmt 4700 10305 DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 1 [TD 9960] RIN 1545–BP79 Guidance Under Section 958 on Determining Stock Ownership; Correction Internal Revenue Service (IRS), Treasury. ACTION: Final regulations; correction. AGENCY: This document contains corrections to the final regulations (Treasury Decision 9960), published in the Federal Register on Tuesday, January 25, 2022. The final regulations regarding the treatment of domestic partnerships for purposes of determining amounts included in the gross income of their partners with respect to foreign corporations. DATES: These corrections are effective on February 24, 2022, and applicable on or after January 25, 2022. FOR FURTHER INFORMATION CONTACT: Edward J. Tracy at (202) 317–6934 (not a toll-free number). SUPPLEMENTARY INFORMATION: SUMMARY: Background The final regulations (TD 9960) subject to this correction are issued under section 951 of the Internal Revenue Code. Need for Correction As published, the final regulations (TD 9960), contain errors that need to be corrected. Correction of Publication Accordingly, the final regulation (TD 9960), that are the subject of FR Doc. 2022–00066, published on January 25, 2022 (87 FR 3648), are corrected to read as follows: On page 3652, the third column, the thirty-second line through the fortythird line from the top of the first full paragraph is corrected to read ‘‘year ending December 31, 2023. Accordingly, for their taxable year ending December 31, 2023, the U.S. shareholder partners would have a distributive share of the partnership’s section 951 inclusion for the CFC’s taxable year ending December 31, 2022 (for the U.S. shareholder partnership’s taxable year ending June 30, 2023) and would also have a direct section 951 inclusion for the CFC’s E:\FR\FM\24FER1.SGM 24FER1 10306 Federal Register / Vol. 87, No. 37 / Thursday, February 24, 2022 / Rules and Regulations taxable year ending December 31, 2023.’’ Oluwafunmilayo A. Taylor, Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel, (Procedure and Administration). [FR Doc. 2022–03612 Filed 2–23–22; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE INTERIOR Bureau of Safety and Environmental Enforcement 30 CFR Part 250 [Docket ID: BSEE–2022–0002; 223E1700D2 EEEE500000 ET1SF0000.EAQ000] RIN 1014–AA55 Oil and Gas and Sulfur Operations on the Outer Continental Shelf—Civil Penalty Inflation Adjustment Bureau of Safety and Environmental Enforcement, Interior. ACTION: Final rule. AGENCY: This final rule adjusts the level of the maximum daily civil monetary penalty contained in the Bureau of Safety and Environmental Enforcement (BSEE) regulations for violations of the Outer Continental Shelf Lands Act (OCSLA), in accordance with the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 and Office of Management and Budget (OMB) guidance. The civil penalty inflation adjustment, using a 1.06222 multiplier, accounts for one year of inflation based on the Consumer Price Index (CPI) spanning from October 2020 to October 2021. DATES: This rule is effective on February 24, 2022. FOR FURTHER INFORMATION CONTACT: Janine Marie Tobias, Safety and Enforcement Division, Bureau of Safety and Environmental Enforcement, (202) 208–4657 or by email: regs@bsee.gov. SUPPLEMENTARY INFORMATION: jspears on DSK121TN23PROD with RULES1 SUMMARY: I. Background and Legal Authority The OCSLA, at 43 U.S.C. 1350(b)(1), directs the Secretary of the Interior (Secretary) to adjust the OCSLA maximum daily civil penalty amount at least once every three years to reflect any increase in the CPI to account for inflation. On November 2, 2015, the President signed into law the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 (Sec. 701 of Pub. L. 114–74) (FCPIA of 2015). The VerDate Sep<11>2014 16:01 Feb 23, 2022 Jkt 256001 FCPIA of 2015 required Federal agencies to adjust the level of civil monetary penalties found in their regulations with an initial ‘‘catch-up’’ adjustment through rulemaking, if warranted, and then to make subsequent annual adjustments for inflation. The purpose of these adjustments is to maintain the deterrent effect of civil penalties and to further the policy goals of the underlying statutes. Agencies were required to publish the first annual inflation adjustments in the Federal Register by no later than January 15, 2017, and must publish recurring annual inflation adjustments by no later than January 15 of each subsequent year. BSEE last updated the maximum daily civil penalty amounts in BSEE’s regulations for OCSLA violations by a final rule published and effective on May 4, 2021. (See 86 FR 23606). Consistent with OMB guidance, the 2021 final rule implemented the inflation adjustments required by the FCPIA of 2015 through October 2020. The OMB Memorandum M–22–07 (Implementation of Penalty Inflation Adjustments for 2022, Pursuant to the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015; available at https:// www.whitehouse.gov/wp-content/ uploads/2021/12/M-22-07.pdf) explains agency responsibilities for: Identifying applicable penalties and performing the annual adjustment; publishing revisions to regulations to implement the adjustment in the Federal Register; applying adjusted penalty levels; and performing agency oversight of inflation adjustments. BSEE is promulgating this 2022 inflation adjustment for the OCSLA maximum daily civil penalties as a final rule pursuant to the provisions of the FCPIA of 2015 and OMB’s guidance. A proposed rule is not required because the FCPIA of 2015 expressly exempted the annual inflation adjustments implemented pursuant to the FCPIA of 2015 from the pre-promulgation notice and comment requirements of the Administrative Procedure Act, 5 U.S.C. 553 et seq. (the APA), allowing those adjustments to be published directly as final rules. Specifically, the FCPIA of 2015 states that agencies shall adjust civil monetary penalties ‘‘notwithstanding Section 553 of the Administrative Procedure Act.’’ (FCPIA of 2015 at § 4(b)(2)). This interpretation of the FCPIA of 2015 is confirmed by OMB Memorandum M–22–07 at 3–4 (‘‘This means that the public procedure PO 00000 Frm 00010 Fmt 4700 Sfmt 4700 the APA generally requires—notice, an opportunity for comment, and a delay in effective date—is not required for agencies to issue regulations implementing the annual adjustment.’’). II. Calculation of Adjustments In accordance with the FCPIA of 2015 and the guidance provided in OMB Memorandum M–22–07, BSEE has calculated the necessary inflation adjustment for the maximum daily civil monetary penalty amount in 30 CFR 250.1403 for violations of OCSLA. The previous OCSLA civil penalty inflation adjustment accounted for inflation through October 2020. The required annual civil penalty inflation adjustment promulgated through this rule accounts for inflation through October 2021. Annual inflation adjustments are based on the percent change between the CPI for all Urban Consumers (CPI– U) for the October preceding the date of the adjustment, and the prior year’s October CPI–U. Consistent with the guidance in OMB Memorandum M–22– 07, BSEE divided the October 2021 CPI–U by the October 2020 CPI–U to calculate the multiplying factor. In this case, the October 2021 CPI–U (276.589) divided by the October 2020 CPI–U (260.388) is 1.06222. OMB MemorandumM–22–07 confirms that this is the proper multiplier. (OMB Memorandum M–22–07 at 1 & n.4). The FCPIA of 2015 requires that BSEE adjust the OCSLA maximum daily civil penalty amount for inflation using the applicable 2022 multiplier (1.06222). Accordingly, BSEE multiplied the existing OCSLA maximum daily civil penalty amount ($46,000) by 1.06222 to arrive at the new maximum daily civil penalty amount ($48,862.12). The FCPIA of 2015 requires that the resulting amount be rounded to the nearest $1.00 at the end of the calculation process. Accordingly, the adjusted OCSLA maximum daily civil penalty for 2022 is $48,862. The adjusted penalty levels take effect immediately upon publication of this rule. Pursuant to the FCPIA of 2015, the increase in the OCSLA maximum daily civil penalty amount applies to civil penalties assessed after the date the increase takes effect, even when the associated violation(s) predates such increase. Consistent with the provisions of OCSLA and the FCPIA of 2015, this rule adjusts the following maximum civil monetary penalty per day per violation as follows: E:\FR\FM\24FER1.SGM 24FER1

Agencies

[Federal Register Volume 87, Number 37 (Thursday, February 24, 2022)]
[Rules and Regulations]
[Pages 10305-10306]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-03612]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9960]
RIN 1545-BP79


Guidance Under Section 958 on Determining Stock Ownership; 
Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Final regulations; correction.

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SUMMARY: This document contains corrections to the final regulations 
(Treasury Decision 9960), published in the Federal Register on Tuesday, 
January 25, 2022. The final regulations regarding the treatment of 
domestic partnerships for purposes of determining amounts included in 
the gross income of their partners with respect to foreign 
corporations.

DATES: These corrections are effective on February 24, 2022, and 
applicable on or after January 25, 2022.

FOR FURTHER INFORMATION CONTACT: Edward J. Tracy at (202) 317-6934 (not 
a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The final regulations (TD 9960) subject to this correction are 
issued under section 951 of the Internal Revenue Code.

Need for Correction

    As published, the final regulations (TD 9960), contain errors that 
need to be corrected.

Correction of Publication

    Accordingly, the final regulation (TD 9960), that are the subject 
of FR Doc. 2022-00066, published on January 25, 2022 (87 FR 3648), are 
corrected to read as follows:
    On page 3652, the third column, the thirty-second line through the 
forty-third line from the top of the first full paragraph is corrected 
to read ``year ending December 31, 2023. Accordingly, for their taxable 
year ending December 31, 2023, the U.S. shareholder partners would have 
a distributive share of the partnership's section 951 inclusion for the 
CFC's taxable year ending December 31, 2022 (for the U.S. shareholder 
partnership's taxable year ending June 30, 2023) and would also have a 
direct section 951 inclusion for the CFC's

[[Page 10306]]

taxable year ending December 31, 2023.''

Oluwafunmilayo A. Taylor,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel, (Procedure and Administration).
[FR Doc. 2022-03612 Filed 2-23-22; 8:45 am]
BILLING CODE 4830-01-P
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