[Federal Register Volume 64, Number 115 (Wednesday, June 16, 1999)]
[Rules and Regulations]
[Page 32181]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-15113]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 8805]
RIN 1545-AQ43


Application of Section 904 to Income Subject to Separate 
Limitations; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correcting amendment.

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SUMMARY: This document contains corrections to final regulations that 
were published in the Federal Register on Monday, January 11, 1999 (64 
FR 1505) relating to the application of section 904 with respect to 
certain categories of income.

DATES: This correction is effective March 12, 1999.

FOR FURTHER INFORMATION CONTACT: Rebecca Rosenberg (202) 622-3850 (not 
a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The final regulations that are the subject of these corrections are 
under section 904 of the Internal Revenue Code.

Need for correction

    As published, the final regulations contain errors that may prove 
to be misleading and are in need of clarification.

List of Subjects in 26 CFR Part 1

    Income taxes, Reporting and recordkeeping requirements.

Correction of Publication

    Accordingly, 26 CFR Part 1 is corrected by making the following 
correcting 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. 1.904-4  [Corrected]

    Par. 2. Section 1.904-4 is amended as follows:
    1. Paragraph (c)(1) is amended by adding the sentence ``This 
paragraph (c)(1) is applicable for taxable years beginning after March 
12, 1999.'' at the end of the paragraph.
    2. Paragraph (c)(2)(i)(A) is amended by removing the last sentence 
of the paragraph and adding a new sentence ``Paragraph (c)(2)(ii) of 
this section is applicable for taxable years beginning after March 12, 
1999.'' in its place.
Cynthia E. Grigsby,
Chief, Regulation Unit, Assistant Chief Counsel (Corporate).
[FR Doc. 99-15113 Filed 6-15-99; 8:45 am]
BILLING CODE 4830-01-U