[Federal Register Volume 59, Number 24 (Friday, February 4, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-2623]


[[Page Unknown]]

[Federal Register: February 4, 1994]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[EE-61-93]
RIN 1545-AS23

 

Disallowance of Deductions for Employee Remuneration in Excess of 
$1,000,000; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to notice of proposed rulemaking.

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SUMMARY: This document contains corrections to the notice of proposed 
rulemaking (EE-61-93), which was published in the Federal Register for 
Monday, December 20, 1993 (58 FR 66310). The proposed regulations 
relate to the disallowance of deductions for employee remuneration in 
excess of $1,000,000.

FOR FURTHER INFORMATION CONTACT: Robert Misner or Charles T. Deliee, 
(202) 622-6060 (not a toll-free call).

SUPPLEMENTARY INFORMATION:

Background

    The notice of proposed rulemaking that is the subject of these 
corrections contains proposed amendments to the Income Tax Regulations 
(26 CFR part 1) under section 162(m) of the Internal Revenue Code. 
These regulations are proposed to conform the Income Tax Regulations to 
section 13211 of the Omnibus Budget Reconciliation Act of 1993 (Pub. L. 
103-66), which added subsection (m) to section 162 of the Code.

Need for Correction

    As published, the proposed rulemaking contains errors which may 
prove to be misleading and are in need of clarification.

Correction of Publication

    Accordingly, the publication of proposed rulemaking (EE-61-93), 
which was the subject of FR Doc. 93-30993, is corrected as follows:


Sec. 1.162-27  [Corrected]

    1. On page 66314, column 2, Sec. 1.162-27(c)(3)(ii)(A), line 2, the 
language ``3121(a)(1) through section 3121(a)(5)(D)'' is corrected to 
read ``3121(a)(5)(A) through section 3121(a)(5)(D)''.
    2. On page 66318, column 3, Sec. 1.162-27(e)(4)(viii), under 
Example 3, lines 10 and 11 from the top of that column, the language 
``disclose the maximum amount of compensation that any executive may 
receive'' is corrected to read ``disclose that the maximum amount of 
compensation any executive may receive''.
Jacquelyn B. Burgess,
Alternate Federal Register Liaison Officer, Assistant Chief Counsel 
(Corporate).
[FR Doc. 94-2623 Filed 2-3-94; 8:45 am]
BILLING CODE 4830-01-U