[Federal Register Volume 64, Number 129 (Wednesday, July 7, 1999)]
[Rules and Regulations]
[Page 36569]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-17063]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 301

[TD 8793]
RIN 1545-AW38


Payment by Credit Card and Debit Card; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correcting amendment.

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SUMMARY: This document contains a correction to temporary regulations 
that were published in the Federal Register on Tuesday, December 15, 
1998 (63 FR 68995) relating to the payment of taxes by credit card and 
debit card.

DATES: This correction is effective January 1, 1999.

FOR FURTHER INFORMATION CONTACT: Mitchel S. Hyman, (202) 622-3620 (not 
a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The temporary regulations that are subject to this correction are 
under section 6311 of the Internal Revenue Code.

Need for Correction

    As published, the temporary regulations (TD 8793) contain an error 
that may prove to be misleading and are in need of clarification.

List of Subjects in 26 CFR Part 301

    Employment taxes, Estate taxes, Excise taxes, Gift taxes, Income 
taxes, Penalties, Reporting and recordkeeping requirements.

Correction of Publication

    Accordingly, 26 CFR Part 301 is corrected by making the following 
correcting amendment:

PART 301--PROCEDURE AND ADMINISTRATION

    Paragraph 1. The authority citation for part 301 continues to read 
in part as follows:

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

    Par. 2. Section 301.6311-2T (c) (2) is amended by revising the 
first sentence to read as follows:


Sec. 301.6311-2T  Payment by credit card and debit card (temporary).

* * * * *
    (c) * * *
    (2) Liability of financial institutions. If a taxpayer has tendered 
a payment of internal revenue taxes by credit card or debit card, and 
the credit card or debit card transaction has been guaranteed expressly 
by a financial institution, and the United States is not duly paid, the 
United States shall have a lien for the guaranteed amount of the 
transaction upon all the assets of the institution making such 
guarantee. * * *
* * * * *
Cynthia E. Grigsby,
Chief, Regulations Unit, Assistant Chief Counsel (Corporate).
[FR Doc. 99-17063 Filed 7-6-99; 8:45 am]
BILLING CODE 4830-01-U