Certain Partnership Related-Party Basis Adjustment Transactions as Transactions of Interest; Correction, 59864-59865 [2024-15719]

Download as PDF 59864 Federal Register / Vol. 89, No. 142 / Wednesday, July 24, 2024 / Proposed Rules The Proposed Amendment In consideration of the foregoing, the Federal Aviation Administration proposes to amend 14 CFR part 71 as follows: PART 71—DESIGNATION OF CLASS A, B, C, D, AND E AIRSPACE AREAS; AIR TRAFFIC SERVICE ROUTES; AND REPORTING POINTS 1. The authority citation for 14 CFR part 71 continues to read as follows: ■ Authority: 49 U.S.C. 106(f), 106(g); 40103, 40113, 40120; E.O. 10854, 24 FR 9565, 3 CFR, 1959–1963 Comp., p. 389. § 71.1 [Amended] 2. The incorporation by reference in 14 CFR 71.1 of FAA Order JO 7400.11H, Airspace Designations and Reporting Points, dated August 11, 2023, and effective September 15, 2023, is amended as follows: ■ Paragraph 2006 United States Area Navigation Routes. * * * * * Q–8 Anchorage, AK (TED) to Barrow, AK (BRW) [Amended] Anchorage, AK (TED) VOR/DME (lat. 61°10′04″ N, long. 149°57′37″ W) Galena, AK (GAL) VOR/DME (lat. 64°44′17″ N, long. 156°46′38″ W) Barrow, AK (BRW) VOR/DME (lat. 71°16′24″ N, long. 156°47′17″ W) * * * * * Q–18 Galena, AK (GAL) to Barrow, AK (BRW) [Removed] * * * * a toll-free number); concerning submissions of comments or the public hearing, Vivian Hayes, (202) 317–6901 (not toll-free number) or by email to publichearings@irs.gov (preferred). SUPPLEMENTARY INFORMATION: * Issued in Washington, DC, on July 18, 2024. Frank Lias, Manager, Rules and Regulations Group. [FR Doc. 2024–16186 Filed 7–23–24; 8:45 am] BILLING CODE 4910–13–P Background DEPARTMENT OF THE TREASURY The notice of proposed rulemaking (REG–133850–13) that is the subject of this correction is under section 263A of the Code. Internal Revenue Service Correction of Publication 26 CFR Part 1 [REG–133850–13] RIN 1545–BN93 Interest Capitalization Requirements for Improvements to Designated Property; Correction Internal Revenue Service (IRS), Treasury. ACTION: Notice of proposed rulemaking; correction. AGENCY: This document corrects a notice of proposed rulemaking (REG– 133850–13) published in the Federal Register on May 15, 2024, containing proposed regulations that would remove the associated property rule and similar rules from the existing regulations on the interest capitalization requirements for improvements to designated property. DATES: Written or electronic comments were to be received by July 15, 2024. ADDRESSES: Commenters were strongly encouraged to submit public comments electronically. FOR FURTHER INFORMATION CONTACT: Concerning the proposed regulations, contact Livia Piccolo of the Office of Associate Chief Counsel (Income Tax and Accounting), at (202) 317–7007 (not ddrumheller on DSK120RN23PROD with PROPOSALS1 SUMMARY: VerDate Sep<11>2014 16:57 Jul 23, 2024 Jkt 262001 Accordingly, the notice of proposed rulemaking (REG–133850–13) that is the subject of FR Doc. 2024–10579, published on May 15, 2024, is corrected on page 42405, in the third column, by correcting the third line from the bottom of the column to read, ‘‘amendments to § 1.263A–11(e) to’’. Oluwafunmilayo A. Taylor, Section Chief, Publications and Regulations Section, Associate Chief Counsel, (Procedure and Administration). [FR Doc. 2024–16214 Filed 7–23–24; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 1 [REG–124593–23] RIN 1545–BR07 Certain Partnership Related-Party Basis Adjustment Transactions as Transactions of Interest; Correction Internal Revenue Service (IRS), Treasury. ACTION: Notice of proposed rulemaking; correction. AGENCY: PO 00000 Frm 00014 Fmt 4702 Sfmt 4702 This document corrects a notice of proposed rulemaking (REG– 124593–23) published in the Federal Register on June 18, 2024, containing proposed regulations that would identify certain partnership related party basis adjustment transactions and substantially similar transactions as transactions of interest, a type of reportable transaction. SUMMARY: Written or electronic comments are still being accepted and must be received by August 19, 2024. DATES: Commenters were strongly encouraged to submit public comments electronically via the Federal eRulemaking Portal at https:// www.regulations.gov (indicate IRS and REG–124593–23) by following the online instructions for submitting comments. Requests for a public hearing must be submitted as prescribed in the ‘‘Comments and Requests for a Public Hearing’’ section of the notice of proposed rulemaking published on June 18, 2024 (89 FR 51476). Once submitted to the Federal eRulemaking Portal, comments cannot be edited or withdrawn. The Department of the Treasury (Treasury Department) and the IRS will publish for public availability any comments submitted to the IRS’s public docket. Send paper submissions to: CC:PA:01:PR (REG–124593–23), Room 5203, Internal Revenue Service, P.O. Box 7604, Ben Franklin Station, Washington, DC 20044. ADDRESSES: FOR FURTHER INFORMATION CONTACT: Concerning the proposed regulations, Elizabeth Zanet of the Office of Associate Chief Counsel (Passthroughs and Special Industries), (202) 317–6007 (not a toll-free number); concerning submissions of comments or the public hearing, the Publications and Regulations Section, (202) 317–6901 E:\FR\FM\24JYP1.SGM 24JYP1 Federal Register / Vol. 89, No. 142 / Wednesday, July 24, 2024 / Proposed Rules (not toll-free number) or by email to publichearings@irs.gov (preferred). SUPPLEMENTARY INFORMATION: Comments must be received on or before September 23, 2024, DATES: The notice of proposed rulemaking (REG–124593–23) that is the subject of these corrections is under section 6011 of the Code. Correction of Publication In proposed rule FR Doc. 2024–13282, beginning on page 51476 in the issue of June 18, 2024, make the following corrections: 1. On page 51477, in the first column, under the heading FOR FURTHER INFORMATION CONTACT the sixth line of the paragraph is corrected to read ‘‘or the hearing, the Publications and Regulations Section, (202) 317–’’. 2. On page 51479 in the first column, the first line of the column is corrected to read ‘‘provided under section 732(a)(2), section 732(a)(1)’’. 3. On page 51483, in the third column, in the twelfth line of the second full paragraph the language ‘‘reduces’’ is corrected to read ‘‘reduce’’. 4. On page 51488, in the first column, in the second full paragraph, the second line from the bottom of the paragraph is corrected to read ‘‘free number) by September 12,’’. Oluwafunmilayo A. Taylor, Section Chief, Publications and Regulations Section, Associate Chief Counsel, (Procedure and Administration). [FR Doc. 2024–15719 Filed 7–23–24; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF VETERANS AFFAIRS RIN 2900–AS12 Servicemembers’ Group Life Insurance Traumatic Injury Protection Program Amendments Department of Veterans Affairs. Proposed rule. AGENCY: The Department of Veterans Affairs (VA) proposes to amend its regulations that govern the Servicemembers’ Group Life Insurance (SGLI) Traumatic Injury Protection (TSGLI) program to correct an unintended amendment that was made in a recent rulemaking amending the TSGLI Schedule of Losses for payments for inability to perform at least two activities of daily living (ADL) as a result of a traumatic injury other than a traumatic brain injury. ddrumheller on DSK120RN23PROD with PROPOSALS1 SUMMARY: VerDate Sep<11>2014 16:57 Jul 23, 2024 Jkt 262001 Paul Weaver, Insurance Specialist, Department of Veterans Affairs Insurance Service (310/290B), 5000 Wissahickon Avenue, Philadelphia, PA 19144, (215) 842–2000, ext. 4263. (This is not a toll-free number.) FOR FURTHER INFORMATION CONTACT: TSGLI provides up to $100,000 of traumatic injury coverage to all servicemembers enrolled in SGLI, and the coverage provides a financial benefit to seriously injured SGLI insureds to assist them with expenses incurred during long periods of recovery and rehabilitation. On March 15, 2023, VA published a final rule in the Federal Register, 88 FR 15,907, that amended its regulations governing the TSGLI program. Among other things, VA recodified the schedule and amended the eligibility standards for certain losses covered under the schedule. Following publication of the final rule, VA discovered that it had inadvertently changed the Schedule of Losses for inability to perform at least two ADLs as a result of a traumatic injury other than a traumatic brain injury. Neither the preamble to the proposed rule nor the preamble to the final rule addressed this change to the SUPPLEMENTARY INFORMATION: 38 CFR Part 9 ACTION: Comments must be submitted through www.regulations.gov. Except as provided below, comments received before the close of the comment period will be available at www.regulations.gov for public viewing, inspection, or copying, including any personally identifiable or confidential business information that is included in a comment. We post the comments received before the close of the comment period on www.regulations.gov as soon as possible after they have been received. VA will not post on Regulations.gov public comments that make threats to individuals or institutions or suggest that the commenter will take actions to harm an individual. VA encourages individuals not to submit duplicative comments; however, we will post comments from multiple unique commenters even if the content is identical or nearly identical to other comments. Any public comment received after the comment period’s closing date is considered late and will not be considered in the final rulemaking. In accordance with the Providing Accountability Through Transparency Act of 2023, a 100 word Plain-Language Summary of this proposed rule is available at Regulations.gov, under RIN 2900–AS12. ADDRESSES: Background PO 00000 Frm 00015 Fmt 4702 Sfmt 4702 59865 TSGLI regulation. See 85 FR 50,973; 88 FR 15,907. The current TSGLI Schedule of Losses, as published in the 2023 final rule referenced above, includes a new interval for payment at the 15th consecutive day of ADL loss. 38 CFR 9.21(c)(20) (a ‘‘[t]raumatic injury, other than traumatic brain injury, resulting in inability to perform at least 2 activities of daily living . . . [is] payable at the 15th consecutive day of ADL loss [at] $25,000’’). The payment schedule retains the original text for the tiered eligibility standards for payments at the 30th, 60th, and 90th consecutive-day intervals, but it does not include payment at the 120th consecutive-day interval. VA implemented the TSGLI program in December 2005 (see 70 FR 75,940, 75,947), and from that time until the 2023 final rule, VA had applied the same tiered schedule for amounts payable under the TSGLI schedule for an inability to perform at least two ADLs as a result of a traumatic injury other than a traumatic brain injury: $25,000 at the 30th consecutive day of the inability to perform ADLs, with additional payments of $25,000 each at the 60th, 90th, and 120th consecutive day intervals thereafter. This scheduled loss was initially codified at 38 CFR 9.20(e)(7)(xliv), and although the scheduled loss was recodified in subsequent amendments to the TSGLI regulations, VA did not intend to change the tiered schedule for TSGLI payments for an inability to perform ADLs as a result of a traumatic injury other than a traumatic brain injury. In its recent review of the TSGLI regulation prior to the 2023 final rule, VA determined that the TSGLI payment range for the scheduled losses did not warrant amendment, noting that the then-existing payment amounts in the regulation exceeded payouts under many commercial accidental death and dismemberment insurance policies on which VA’s schedule was based and was consistent with Congress’s intent concerning VA’s administration of the program. See 88 FR 15,908 (discussing VA’s decision not to change the TSGLI payment schedule). VA has considered but declines to adopt the changed tiered schedule for payments based on the loss of ADLs due to traumatic injury other than brain injury listed in current 38 CFR 9.21(c)(20), which is the result of VA’s inadvertent error. As an initial matter, we note that the 30-, 60-, 90-, and 120day intervals under the Schedule of Losses were intended for general applicability under this program, unless otherwise specified. Revisions to the E:\FR\FM\24JYP1.SGM 24JYP1

Agencies

[Federal Register Volume 89, Number 142 (Wednesday, July 24, 2024)]
[Proposed Rules]
[Pages 59864-59865]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-15719]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-124593-23]
RIN 1545-BR07


Certain Partnership Related-Party Basis Adjustment Transactions 
as Transactions of Interest; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice of proposed rulemaking; correction.

-----------------------------------------------------------------------

SUMMARY: This document corrects a notice of proposed rulemaking (REG-
124593-23) published in the Federal Register on June 18, 2024, 
containing proposed regulations that would identify certain partnership 
related party basis adjustment transactions and substantially similar 
transactions as transactions of interest, a type of reportable 
transaction.

DATES: Written or electronic comments are still being accepted and must 
be received by August 19, 2024.

ADDRESSES: Commenters were strongly encouraged to submit public 
comments electronically via the Federal eRulemaking Portal at https://www.regulations.gov (indicate IRS and REG-124593-23) by following the 
online instructions for submitting comments. Requests for a public 
hearing must be submitted as prescribed in the ``Comments and Requests 
for a Public Hearing'' section of the notice of proposed rulemaking 
published on June 18, 2024 (89 FR 51476). Once submitted to the Federal 
eRulemaking Portal, comments cannot be edited or withdrawn. The 
Department of the Treasury (Treasury Department) and the IRS will 
publish for public availability any comments submitted to the IRS's 
public docket. Send paper submissions to: CC:PA:01:PR (REG-124593-23), 
Room 5203, Internal Revenue Service, P.O. Box 7604, Ben Franklin 
Station, Washington, DC 20044.

FOR FURTHER INFORMATION CONTACT: Concerning the proposed regulations, 
Elizabeth Zanet of the Office of Associate Chief Counsel (Passthroughs 
and Special Industries), (202) 317-6007 (not a toll-free number); 
concerning submissions of comments or the public hearing, the 
Publications and Regulations Section, (202) 317-6901

[[Page 59865]]

(not toll-free number) or by email to [email protected] 
(preferred).

SUPPLEMENTARY INFORMATION:

Background

    The notice of proposed rulemaking (REG-124593-23) that is the 
subject of these corrections is under section 6011 of the Code.

Correction of Publication

    In proposed rule FR Doc. 2024-13282, beginning on page 51476 in the 
issue of June 18, 2024, make the following corrections:
    1. On page 51477, in the first column, under the heading FOR 
FURTHER INFORMATION CONTACT the sixth line of the paragraph is 
corrected to read ``or the hearing, the Publications and Regulations 
Section, (202) 317-''.
    2. On page 51479 in the first column, the first line of the column 
is corrected to read ``provided under section 732(a)(2), section 
732(a)(1)''.
    3. On page 51483, in the third column, in the twelfth line of the 
second full paragraph the language ``reduces'' is corrected to read 
``reduce''.
    4. On page 51488, in the first column, in the second full 
paragraph, the second line from the bottom of the paragraph is 
corrected to read ``free number) by September 12,''.

Oluwafunmilayo A. Taylor,
Section Chief, Publications and Regulations Section, Associate Chief 
Counsel, (Procedure and Administration).
[FR Doc. 2024-15719 Filed 7-23-24; 8:45 am]
BILLING CODE 4830-01-P

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