[Federal Register Volume 63, Number 49 (Friday, March 13, 1998)]
[Rules and Regulations]
[Page 12410]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-6560]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 8445]
RIN 1545-AQ15


Information Returns of Brokers

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Technical amendment.

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SUMMARY: This document contains a technical amendment to final 
regulations (TD 8445), which were published in the Federal Register for 
November 6, 1992, at 57 FR 53031, relating to information returns of 
brokers.

EFFECTIVE DATE: January 1, 1993.

FOR FURTHER INFORMATION CONTACT: Dale Goode (202) 622-6795 (not a toll-
free number).

SUPPLEMENTARY INFORMATION:

Background

    The final regulations that are the subject of this technical 
amendment provide guidance under section 6045 relating to information 
returns of brokers.

Need for Correction

    This amendment serves to clarify guidance under section 6045. 
Currently, two paragraphs (c)(3) appear in Sec. 1.6045-1 of the Code of 
Federal Regulations (26 CFR part 1) along with an editorial note. As 
published in the Federal Register on November 6, 1992 (57 FR 53032), 
paragraph (c)(3) of Sec. 1.6045-1 was revised effective January 1, 
1993, by TD 8445. As published in the Federal Register on December 14, 
1992 (57 FR 58984), paragraph (c)(3) of Sec. 1.6045-1 was again 
revised, effective July 1, 1983, by TD 8452.
    It was the intention of the IRS that the paragraph (c)(3) of 
Sec. 1.6045-1 published by TD 8452 on December 14, 1992, supersede the 
paragraph (c)(3) of Sec. 1.6045-1 published by TD 8445 on November 6, 
1992. Therefore, the first paragraph (c)(3) of Sec. 1.6045-1 which 
currently appears in 26 CFR part 1 is removed.

List of Subjects in 26 CFR Part 1

    Income taxes, Reporting and recordkeeping requirements.

    Accordingly, 26 CFR part 1 is corrected by making the following 
technical amendment:

PART 1--INCOME TAXES

    Paragraph 1. The authority citation for part 1 continues to read in 
part as follows:

    Authority: 26 U.S.C. 7805 * * *


Sec. 1.6045-1  [Amended]

    Par. 2. Section 1.6045-1 is amended by removing the first paragraph 
(c)(3) as it appears in 26 CFR part 1 revised April 1, 1997.
Dale D. Goode,
Federal Register Liaison Officer, Assistant Chief Counsel (Corporate).
[FR Doc. 98-6560 Filed 3-12-98; 8:45 am]
BILLING CODE 4830-01-U