[Federal Register Volume 67, Number 42 (Monday, March 4, 2002)]
[Proposed Rules]
[Page 9631]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-5111]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-125638-01]
RIN 1545-BA00


Guidance Regarding Deduction and Capitalization of Expenditures; 
Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to advance notice of proposed rulemaking.

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SUMMARY: This document contains a correction to the advance notice of 
proposed rulemaking that was published in the Federal Register on 
Thursday, January 24, 2002 (67 FR 3461) that will clarify the 
application of section 263(a) of the Internal Revenue Code to 
expenditures incurred in acquiring, creating, or enhancing certain 
intangible assets or benefits.

DATES: This correction is effective January 24, 2002.

FOR FURTHER INFORMATION CONTACT: Andrew J. Keyso, (202) 927-9397 (not a 
toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The advance notice of proposed rulemaking that is the subject of 
this correction is under section 263(a) of the Internal Revenue Code.

Need for Correction

    As published, the advance notice of proposed rulemaking (REG-
125638-01) contains an error which may prove to be misleading and is in 
need of clarification.

Correction of Publication

    Accordingly, the publication of the advance notice of proposed 
rulemaking (REG-125638-01), which is the subject of FR Doc. 02-1678 is 
corrected as follows:
    On page 3464, column 1, line 7, the language ``J.J. Case Company v. 
United States, 32'' is corrected to read ``J.I. Case Company v. United 
States, 32.''

Cynthia Grigsby,
Chief, Regulations Unit, Associate Chief Counsel (Income Tax and 
Accounting).
[FR Doc. 02-5111 Filed 3-1-02; 8:45 am]
BILLING CODE 4830-01-P