[Federal Register Volume 68, Number 211 (Friday, October 31, 2003)]
[Proposed Rules]
[Page 62040]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-27498]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-128203-02]
RIN 1545-BA81


Partnership Transactions Involving Long Term Contracts; 
Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to notice of proposed rulemaking.

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SUMMARY: This document contains a correction to a proposed regulation 
that was published in the Federal Register on May 15, 2002 (68 FR 
46516), relating to partnership transactions involving contracts 
accounted for under a long term contract method of accounting.

FOR FURTHER INFORMATION CONTACT: Richard Probst (202) 622-3060 (not a 
toll free number).

SUPPLEMENTARY INFORMATION:

Background

    The proposed regulations that are the subject of this correction 
are under section 460 of the Internal Revenue Code.

Need for Correction

    As published, the proposed regulations (REG-128203-02), contains an 
error that may prove to be misleading and is in need of clarification.

Correction of Publication

    Accordingly, the publication of the proposed regulations (REG-
128203-02), which are the subject of FR Doc. 03-18484, is corrected as 
follows:
    On page 46518, column 1, in the preamble under the paragraph 
heading ``1. Contribution of a Contract to a Partnership'', line 8 from 
the top of the column, the language ``to the contract, and the 
contributes the'' is corrected to read ``to the contract, and then 
contributes the''.

Cynthia E. Grigsby,
Acting Chief, Publications and Regulations Branch, Legal Processing 
Division, Associate Chief Counsel, (Procedure and Administration).
[FR Doc. 03-27498 Filed 10-30-03; 8:45 am]
BILLING CODE 4830-01-P