[Federal Register Volume 66, Number 63 (Monday, April 2, 2001)]
[Proposed Rules]
[Pages 17517-17518]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-8047]


=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-105801-00]
RIN 1545-AX92


Capitalization of Interest and Carrying Charges Properly 
Allocated to Straddles; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to notice of proposed rulemaking.

-----------------------------------------------------------------------

SUMMARY: This document contains corrections to proposed regulations 
that were published in the Federal Register on January 18, 2001 (66 FR 
4746). The regulations clarify the application of the straddle rules to 
a variety of financial instruments.

FOR FURTHER INFORMATION CONTACT: Kenneth Christman (202) 622-3950 (not 
a toll-free number).

[[Page 17518]]


SUPPLEMENTARY INFORMATION:

Background

    These proposed regulations that are the subject of this correction 
are under sections 1092 and 263(g) of the Internal Revenue Code.

Need for Correction

    As published, these proposed regulations (REG-105801-00) contain 
errors that may prove to be misleading and are in need of 
clarification.

Correction of Publication

    Accordingly, the publication of the proposed regulations (REG-
105801-00), which were the subject of FR. Doc. 01-1240, is corrected as 
follows:


Sec. 1.263(g)-4  [Corrected]

    1. On page 4750, column 3, Sec. 1.263(g)-4, paragraph (c), 
paragraph (ii) of Example 2, line 3, the language ``of z ounces of 
silver. Consequently, A's'' is corrected to read ``of y ounces of 
silver. Consequently, A's''.
    2. On page 4751, column 1, Sec. 1.263(g)-4, paragraph (c), 
paragraph (i) of Example 5, line 9, the language ``the holder would 
receive an annual payment'' is corrected to read ``the holders would 
receive an annual payment''.

Cynthia E. Grigsby,
Chief, Regulations Unit, Office of Special Counsel (Modernization and 
Strategic Planning).
[FR Doc. 01-8047 Filed 3-30-01; 8:45 am]
BILLING CODE 4830-01-P