[Federal Register Volume 61, Number 56 (Thursday, March 21, 1996)]
[Rules and Regulations]
[Page 11547]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-6483]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[TD 8653]
RIN 1545-AS75
Hedging Transaction by Members of a Consolidated Group;
Correction
AGENCY: Internal Revenue Service, Treasury.
ACTION: Correction of final regulations.
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SUMMARY: This document contains a correction to the final regulations
[TD 8653] which were published in the Federal Register for Monday,
January 8, 1996 (61 FR 517). The final regulations relate to the
character and timing of gain or loss from certain hedging transactions
entered into by members of a consolidated group.
EFFECTIVE DATE: February 7, 1996.
FOR FURTHER INFORMATION CONTACT: Jo Lynn Ricks of the Office of the
Assistant Chief Counsel (Financial Institutions and Products), (202)
622-3920 (not a toll-free number).
SUPPLEMENTARY INFORMATION:
Background
The final regulations which are the subject of this correction are
under sections 446 and 1221 of the Internal Revenue Code.
Need for Correction
As published, TD 8653 contains an error that is in need of
correction.
Correction of Publication
Accordingly, the publication of the final regulations which is the
subject of FR Doc. 96-178, is corrected as follows:
Sec. 1.1221-2 [Corrected]
On page 520, column 2, Sec. 1.1221-2, paragraph (d)(2)(iv), last
line, the language ``after the date so indicated.'' is corrected to
read ``after the date so indicated. The election may be revoked only
with the consent of the Commissioner.''.
Cynthia E. Grigsby,
Chief, Regulations Unit, Assistant Chief Counsel (Corporate).
[FR Doc. 96-6483 Filed 3-20-96; 8:45 am]
BILLING CODE 4830-01-U