[Federal Register Volume 69, Number 118 (Monday, June 21, 2004)]
[Proposed Rules]
[Page 34323]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-13953]



[[Page 34323]]

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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-166012-02]
RIN 1545-BB82


National Principal Contracts; Contingent Nonperiodic Payments; 
Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to hearing cancellation for public hearing.

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SUMMARY: This document contains a correction to a hearing cancellation 
notice published in the Federal Register on May 14, 2004 (69 FR 26782) 
that relates to the inclusion into income or deduction of a contingent 
nonperiodic payment provided for under a notional principal contract 
(NPC).

FOR FURTHER INFORMATION CONTACT: Kate Sleeth, (202) 622-3920 (not a 
toll free number).

SUPPLEMENTARY INFORMATION:

Background

    The hearing cancellation notice that is the subject of this 
correction is under section 446 of the Internal Revenue Code.

Need for Correction

    As published, the hearing cancellation notice (REG-166012-02), 
contains an error that may prove to be misleading and is in need of 
clarification.

Correction of Publication

    Accordingly, the publication of the hearing cancellation notice 
(REG-166012-02), which was the subject of FR Doc. 04-11016, is 
corrected as follows:
    On page 26782, column 3, in the heading, the subject line 
``National Principal Contracts; Contingent Nonperiodic Payments; 
Hearing Cancellation'' is corrected to read ``National Principal 
Contracts; Contingent Nonperiodic Payments; Hearing Cancellation''.

Cynthia Grigsby,
Acting Chief, Publications and Regulations Branch, Legal Processing 
Division, Associate Chief Counsel, (Procedures and Administration).
[FR Doc. 04-13953 Filed 6-18-04; 8:45 am]
BILLING CODE 4830-01-P