[Federal Register Volume 61, Number 63 (Monday, April 1, 1996)]
[Rules and Regulations]
[Pages 14247-14248]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-7772]



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DEPARTMENT OF THE TREASURY
26 CFR Part 1

[TD 8657]
RIN 1545-AQ58


Regulations on Effectively Connected Income and the Branch 
Profits Tax; Correction

AGENCY: Internal Revenue Service, Treasury.

ACTION: Correction to final and temporary regulations.

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SUMMARY: This document contains corrections to final Income Tax 
Regulations (TD 8657), which were published in the Federal Register on 
Friday, March 8, 1996 (61 FR 9336), relating to the determination of 
effectively connected income; and final and temporary Income Tax 
Regulations relating to the branch-level interest tax, respectively.

EFFECTIVE DATE: June 6, 1996.

FOR FURTHER INFORMATION CONTACT: Gwendolyn A. Stanley, (202) 622-3860 
(not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The final regulations that are the subject of these corrections are 
under sections 861, 864, 871, 884, and 897 of the Internal Revenue 
Code.

Need for Correction

    As published, the final regulations (TD 8657) contain errors which 
may prove to be misleading and are in need of clarification.

Correction of Publication

    Accordingly, the publication of the final and temporary regulations 
(TD 8657) which are the subject of FR Doc. 96-5261 is corrected as 
follows:


Sec. 1.884-1  [Corrected]

    1. On page 9338, column 3, in amendatory instruction 11.b. under 
``Par. 5.'', Sec. 1.884-1(e)(5) Example 1, the first entry in the table 
is corrected to read as follows:

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                      Sentence                         Remove      Add  
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First, third, and fifth sentence....................      1993      1997

[[Page 14248]]
                                                                        
                                                                        
                  *        *        *        *        *                 
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Sec. 1.884-5  [Corrected]

    2. On page 9343, column 1, Sec. 1.884-5(e)(4)(ii), line 7, the 
language ``country in its country of residence'' is corrected to read 
``corporation in its country of residence''.


Sec. 1.897-1  [Corrected]

    3. On page 9343, column 1, amendatory instruction ``Par. 10.'' is 
corrected by removing items 1. and 2. and correcting ``Par. 10.'' to 
read as follows:

    Par. 10. Paragraph (f)(2)(i) in Sec. 1.897-1 is revised to read as 
follows:
Cynthia E. Grigsby,
Chief, Regulations Unit, Assistant Chief Counsel (Corporate).
[FR Doc. 96-7772 Filed 3-29-96; 8:45 am]
BILLING CODE 4830-01-U