[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] ======================================================================= ----------------------------------------------------------------------- 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. ----------------------------------------------------------------------- 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