[Federal Register Volume 65, Number 60 (Tuesday, March 28, 2000)]
[Rules and Regulations]
[Pages 16318-16319]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-6693]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 8852]
RIN 1545-AT52


Passthrough of Items of an S Corporation to Its Shareholders; 
Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction of Correction to final regulations.

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SUMMARY: This document contains a correction to a correction to final 
regulations which was published in the Federal Register on Thursday, 
March 9, 2000 (65 FR 12471), relating to the passthrough of items of an 
S corporation to its shareholders, the adjustments to the basis of 
stock of the shareholders,

[[Page 16319]]

and the treatment of distributions by an S corporation.

DATES: This correction is effective December 22, 1999.

FOR FURTHER INFORMATION CONTACT: Martin Schaffer, Deane Burke, or David 
Shulman at (202) 622-3070, or Brenda Stewart at (202) 622-3120 (not 
toll-free numbers).

SUPPLEMENTARY INFORMATION:  

Background

    The correction to final regulations that are subject to this 
correction is under sections 1366, 1367, and 1368 of the Internal 
Revenue Code.

Need for Correction

    As published, the correction to final regulations (TD 8852) 
contains a typographical error that may prove to be misleading and is 
in need of clarification.

Correction of Publication

    Accordingly, the publication of the correction of the final 
regulations (TD 8852), which was the subject of FR Doc. 00-5244, is 
corrected as follows:


Sec. 1.1367-1  [Corrected]

    1. On page 12471, third column, the penultimate line of the 
correction for Sec. 1.1367-1, the reference ``Sec. 1.1377(b)(1)'' is 
corrected to read ``Sec. 1.1377-1(b)(1)''.

Dale D. Goode,
Federal Register Liaison, Assistant Chief Counsel (Corporate).
[FR Doc. 00-6693 Filed 3-27-00; 8:45 am]
BILLING CODE 4830-01-U