[Federal Register Volume 68, Number 60 (Friday, March 28, 2003)]
[Proposed Rules]
[Page 15119]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-7267]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 31

[REG-116641-01]
RIN 1545-BA17


Information Reporting and Backup Withholding for Payment Card 
Transactions; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to notice of proposed rulemaking; notice of proposed 
rulemaking by cross-reference to temporary regulations; and notice of 
public hearing.

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SUMMARY: This document contains corrections to a notice of proposed 
rulemaking; notice of proposed rulemaking by cross-reference to 
temporary regulations; and notice of public hearing. (REG-116641-01) 
which was published in the Federal Register on Friday, January 31, 2003 
(68 FR 4970). This regulation relates to the IRS Taxpayer 
Identification Number (TIN) Matching Program. The text of the temporary 
regulations published in the Rules and Regulations section of this 
issue of the Federal Register serves as the text of this portion of the 
proposed regulations. This document also contains proposed regulations 
relating to the information reporting requirements, information 
reporting penalties, and backup withholding requirements for payment 
card transactions.

FOR FURTHER INFORMATION CONTACT: Donna Welch at (202) 622-4910 (not a 
toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The proposed regulations that are the subject of these corrections 
are under section 3406 of the Internal Revenue Code.

Need for Correction

    As published, this notice of proposed rulemaking contains errors 
that may prove to be misleading and are in need of clarification.

Correction of Publication

    Accordingly, the publication of the notice of proposed rulemaking, 
(REG-116641-01), which is the subject of FR. Doc. 03-2208, is corrected 
as follows:
    1. On page 4971, column 1, in the preamble, paragraph 1, line 4, 
the language ``payments. Section 1.6041-3(q)(1)'' is corrected to read 
``payments. Section 1.6041-3(p)(1)''.


Sec.  31.3406(g)-1  [Corrected]

    2. On page 4973, column 1, Sec.  31.3406(g)-1(f)(1)(ii), line 7, 
the language ``payee is a not a qualified payee'' is corrected to read 
``payee is not a qualified payee''.

Cynthia E. Grigsby,
Chief, Regulations Unit, Associate Chief Counsel (Procedure and 
Administration).
[FR Doc. 03-7267 Filed 3-27-03; 8:45 am]
BILLING CODE 4830-01-P