[Federal Register Volume 67, Number 24 (Tuesday, February 5, 2002)]
[Rules and Regulations]
[Page 5203]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-2744]



[[Page 5203]]

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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Parts 1 and 602

[TD 8972]
RIN 1545-AW05


Averaging of Farm Income; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to final regulations.

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SUMMARY: This document contains a correction to final regulations that 
were published in the Federal Register on Tuesday, January 8, 2002 (67 
FR 817) relating to the election to average farm income in computing 
tax liability.

DATES: This correction is effective January 8, 2002.

FOR FURTHER INFORMATION CONTACT: John M. Moran (202) 622-4940 (not a 
toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The final regulations that are the subject of this correction are 
under section 1301 of the Internal Revenue Code.

Need for Correction

    As published, the final regulations contain an error that may prove 
to be misleading and is in need of clarification.

Correction of Publication

    Accordingly, the publication of the final regulations (TD 8972), 
that were the subject of FR Doc. 02-183, is corrected as follows:


Sec. 1-1301-1  [Corrected]

    On page 821, column 1, Sec. 1.1301-1, paragraph (d)(3)(ii), Example 
(ii), line 9, the language ``years 1990, 2000, and 2001. T's 2002 tax'' 
is corrected to read ``years 1999, 2000, and 2001. T's 2002 tax.''

LaNita Van Dyke,
Acting Chief, Regulations Unit, Office of Special Counsel, 
(Modernization and Strategic Planning).
[FR Doc. 02-2744 Filed 2-4-02; 8:45 am]
BILLING CODE 4830-01-P