[Federal Register Volume 69, Number 25 (Friday, February 6, 2004)]
[Proposed Rules]
[Page 5797]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-2502]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-160330-02]
RIN 1545-BB65


Section 704(c), Installment Obligations and Contributed 
Contracts; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to notice of proposed rulemaking.

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SUMMARY: This document contains corrections to a notice of proposed 
rulemaking (REG-106330-02) that was published in the Federal Register 
on Monday, November 24, 2003 (68 FR 65864). These proposed regulations 
relate to the tax treatment of installment obligations and property 
acquired pursuant to a contract under sections 704(c) and 737.

FOR FURTHER INFORMATION CONTACT: Christopher L. Trump, (202) 622-3070 
(not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    This notice of proposed rulemaking that is the subject of this 
correction is under sections 704(c) and 737 of the Internal Revenue 
Code.

Need for Correction

    As published REG-160330-02 contain errors which may prove to be 
misleading and are in need of clarification.

Correction of Publication

    Accordingly, the publication of the notice of proposed rulemaking 
(REG-160330-02), which is the subject of FR Doc. 03-29323, is corrected 
as follows:
    1. On page 65865, column 2, under the paragraph heading ``Part 1--
INCOME TAXES'', Par. 2 amendatory instruction 6a, line four, the 
language ``paragraphs (a)(8)(ii), and (a)(8)(ii) and'' is corrected to 
read ``paragraphs (a)(8)(ii), and (a)(8)(iii) and''.


Sec. 1.704-4  [Corrected]

    2. On page 65865, column 3, Sec. 1.704-4, paragraph (g) Effective 
date, line four the language ``except that paragraphs (d)(1)(i) and 
(ii)'' is corrected to read ``except that paragraphs (d)(1)(ii) and 
(iii)''.


Sec. 1.737-5  [Corrected]

    3. On page 65866, column 1, Sec. 1.737-5 under the section heading, 
Sec. 1.737-5 Effective dates., line five, the language ``2(d)(3)(ii) 
and (ii) apply to distributions'' is corrected to read ``2(d)(3)(ii) 
and (iii) apply to distributions''.

Cynthia Grigsby,
Acting Chief, Publications and Regulations Branch, Legal Processing 
Division, Associate Chief Counsel (Procedures and Administration).
[FR Doc. 04-2502 Filed 2-5-04; 8:45 am]
BILLING CODE 4830-01-P