[Federal Register Volume 64, Number 62 (Thursday, April 1, 1999)]
[Rules and Regulations]
[Pages 15687-15688]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-7791]


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

DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Parts 31 and 602

[TD 8814]
RIN 1545-AF97


Federal Insurance Contributions Act (FICA) Taxation of Amounts 
Under Employee Benefit Plans; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to final regulations.

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

SUMMARY: This document contains corrections to Treasury Decision 8814, 
which was published in the Federal Register on Friday, January 29, 1999 
(64 FR 4542) that provides guidance as to when amounts deferred under 
or paid from a nonqualified deferred compensation plan are taken into 
account as wages for purposes of the employment taxes imposed by the 
Federal Insurance Contributions Act (FICA).

DATES: This correction is effective January 29, 1999.

FOR FURTHER INFORMATION CONTACT: Janine Cook, Linda E. Alsalihi, or 
Margaret Owens, (202) 622-6040 (not a toll-free number).

SUPPLEMENTARY INFORMATION:

ground

    The final regulations that are the subject of these corrections are 
under section 3121 of the Internal Revenue Code.

Need for Correction

    As published, TD 8814 contains errors which may prove to be 
misleading and are in need of clarification.

Correction of Publication

    Accordingly, the publication of the final regulations (TD 8814), 
which were the subject of FR Doc. 99-1663, is corrected as follows:
    1. On page 4542, column 1, in the regulation heading, line 5, the 
language ``RIN 1545-AT27'' is corrected to read ``RIN 1545-AF97''.


Sec. 31.3121(v)(2)-1  [Corrected]

    2. On page 4550, column 3, Sec. 31.3121(v)(2)-1(b)(5), paragraph 
(i) of Example 10, line 9, the language ``employee's designated 
beneficiary in a single'' is corrected to read ``employee's designated 
beneficiary in a single lump''.
    3. On page 4551, column 1, Sec. 31.3121(v)(2)-1(b)(5), paragraph 
(ii) of Example 10, line 3 from the bottom of the paragraph, the 
language ``payable in the event of the Employee E's'' is corrected to 
read ``payable in the event of Employee E's''.
    4. On page 4551, column 1, Sec. 31.3121(v)(2)-1(b)(5), paragraph 
(ii) of Example 11, line 4 from the bottom of the paragraph, the 
language ``E under the plan during the Employee E's'' is corrected to 
read ``E under the plan during Employee E's''.
    5. On page 4566, column 3, Sec. 31.3121(v)(2)-1(g)(5), paragraph 
(i) of Example 8, line 14, the language ``Based Employer R's estimate 
that Employee'' is corrected to read ``Based on Employer R's estimate 
that Employee''.
    6. On page 4566, column 3, Sec. 31.3121(v)(2)-1(g)(5), paragraph 
(i) of Example 8, line 5 from the bottom of the paragraph, the language 
``which Employee R has a legally binding right''

[[Page 15688]]

is corrected to read ``which Employee F has a legally binding right''.
Cynthia E. Grigsby,
Chief, Regulations Unit, Assistant Chief Counsel (Corporate).
[FR Doc. 99-7791 Filed 3-31-99; 8:45 am]
BILLING CODE 4830-01-U