[Federal Register Volume 66, Number 31 (Wednesday, February 14, 2001)]
[Rules and Regulations]
[Page 10190]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-3775]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 8924]
RIN 1545-AY63


Liabilities Assumed in Certain Corporate Transactions; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to temporary and final regulations.

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SUMMARY: This document contains a correction to temporary and final 
regulations that were published in the Federal Register on January 4, 
2001 (66 FR 723). This document relates to the assumption of 
liabilities in certain corporate transactions under section 301 of the 
Internal Revenue Code.

DATES: This correction is effective January 4, 2001.

FOR FURTHER INFORMATION CONTACT: Mary Dean (202) 622-7550 (not a toll-
free number).

SUPPLEMENTARY INFORMATION:

Background

    The temporary and final regulations that are the subject of this 
correction are under section 301 of the Internal Revenue Code.

Need for Correction

    As published, these temporary and final regulations (TD 8924) 
contain an error that may prove to be misleading and is in need of 
clarification.

Correction of Publication

    Accordingly, the publication of the temporary and final regulations 
(TD 8924), which were the subject of FR Doc. 01-200, is corrected as 
follows:
    On page 723, column 3, in the preamble under the paragraph heading 
``A. State of the Law Before the Miscellaneous Trade and Technical 
Corrections Act of 1999'', line 6, the language ``distribution shall be 
reduced (but now'' is corrected to read ``distribution shall be reduced 
(but not''.

Cynthia E. Grigsby,
Chief, Regulations Unit, Office of Special Counsel (Modernization and 
Strategic Planning).
[FR Doc. 01-3775 Filed 2-13-01; 8:45 am]
BILLING CODE 4830-01-P