[Federal Register Volume 67, Number 151 (Tuesday, August 6, 2002)]
[Proposed Rules]
[Page 50840]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-19834]


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 Proposed Rules
                                                 Federal Register
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 This section of the FEDERAL REGISTER contains notices to the public of 
 the proposed issuance of rules and regulations. The purpose of these 
 notices is to give interested persons an opportunity to participate in 
 the rule making prior to the adoption of the final rules.
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  Federal Register / Vol. 67, No. 151 / Tuesday, August 6, 2002 / 
Proposed Rules  

[[Page 50840]]



DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-103823-99]
RIN 1545-AX12


Guidance on Cost Recovery Under the Income Forecast Method; 
Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to notice of proposed rulemaking and notice of 
public hearing.

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SUMMARY: This document contains a correction to a notice of proposed 
rulemaking that was published in the Federal Register on Friday, May 
31, 2002 (67 FR 38025), relating to deductions available to taxpayers 
using the income forecast method of depreciation.

FOR FURTHER INFORMATION CONTACT: Bernard P. Harvey (202) 622-3110 (not 
a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The notice of proposed rulemaking (REG-103823-99) that is the 
subject of this correction is under section 167 of the Internal Revenue 
Code.

Need for Correction

    As published the notice of proposed rulemaking (REG-103823-99), 
contains an error that my prove to be misleading and is in need of 
clarification.

Correction of Publication

    Accordingly, the publication of the notice of proposed rulemaking 
and notice of public hearing (REG-103823-99), which was the subject of 
FR Doc. 02-13578, is corrected as follows:


Sec. 1.167(n)-6  [Corrected]

    On page 38035, column 1, Sec. 1.167(n)-6(c)(2)(ii), line 5, the 
language ``income) in any taxable year prior'' is corrected to read 
``income) in any prior taxable year''.

LaNita VanDyke,
Acting Chief, Regulations Unit, Associate Chief Counsel, (Income Tax & 
Accounting).
[FR Doc. 02-19834 Filed 8-5-02; 8:45 am]
BILLING CODE 4830-01-P