[Federal Register Volume 69, Number 61 (Tuesday, March 30, 2004)]
[Proposed Rules]
[Pages 16509-16510]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-6961]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-106590-00, REG-138499-02]
RIN 1545-AX95; RIN 1545-BB05


Depreciation of MACRS Property That Is Acquired in a Like-Kind 
Exchange or as a Result of an Involuntary Conversion; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

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

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SUMMARY: This document corrects a notice of proposed rulemaking; notice 
of proposed rulemaking by cross-reference to temporary regulations; 
notice of public hearing; and partial withdrawal of proposed 
regulations (REG-106590-00, REG-138499-02) that were published in the 
Federal Register on Monday, March 1, 2004 (69 FR 9560) relating to the 
depreciation of property subject to section 168 of the Internal Revenue 
Code (MACRS property).

FOR FURTHER INFORMATION CONTACT: Charles J. Magee, (202) 622-3110 (not 
a toll-free number).

SUPPLEMENTARY INFORMATION: 

Background

    The notice of proposed rulemaking; notice of proposed rulemaking by 
cross-reference to temporary regulations; notice of public hearing; and 
partial withdrawal of proposed regulations (REG-106590-00, REG-138499-
02) that is the subject of this correction are under section 168 of the 
Internal Revenue Code.

Need for Correction

    As published, the notice of proposed rulemaking; notice of proposed 
rulemaking by cross-reference to temporary regulations; notice of 
public hearing; and partial withdrawal of proposed regulations (REG-
106590-00, REG-138499-02) contains errors that may prove to be 
misleading and is in need of clarification.

Correction of Publication

    Accordingly, the notice of proposed rulemaking; notice of proposed 
rulemaking by cross-reference to temporary regulations; notice of 
public hearing; and partial withdrawal of proposed regulations (REG-
106590-00, REG-138499-02), is corrected as follows:
    1. On page 9560, column 3, in the preamble, under the caption 
SUMMARY, line 10, the language ``(REG-139499-02) published July 21,'' 
is corrected to read ``(REG-138499-02) published July 21,''.


Sec.  1.168(i)-1  [Corrected]

    2. On page 9562, column 1, Sec.  1.168(i)-1, paragraph 
(e)(3)(iii)(B)(4), lines 1 through 4, the language ``(4) (The text of 
the proposed amendment to Sec.  1.168(i)-1(e)(3)(iii)(B)(4) is the same 
as the text of Sec.  1.168(i)-1T(e)(3)(iii)(B)(4) published'' is 
corrected to read ``(4) (The text of the proposed amendment to Sec.  
1.168(i)-1(e)(3)(iii)(B)(4) is the same as the text of Sec.  1.168(i)-
1T(e)(3)(iii)(B)(4) published''.


1.168(k)-1  [Corrected]

    3. On page 9562, column 2, Sec.  1.168(k)-1, paragraph (g), line 3, 
the language ``1(g)(1) is the same as

[[Page 16510]]

Sec.  1.168(g)-'' is corrected to read ``1(g)(1) is the same as Sec.  
1.168(k)-''.

Cynthia E. Grigsby,
Acting Chief, Publications and Regulations Branch, Legal Processing 
Division, Associate Chief Counsel (Procedures and Administration).
[FR Doc. 04-6961 Filed 3-29-04; 8:45 am]
BILLING CODE 4830-01-P