[Federal Register Volume 71, Number 164 (Thursday, August 24, 2006)]
[Proposed Rules]
[Page 50007]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-14003]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-109367-06]
RIN 1545-BF52


Section 1221(a)(4) Capital Asset Exclusion for Accounts and Notes 
Receivable

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction notice.

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SUMMARY: This document corrects a notice of proposed rulemaking (REG-
109367-06) that was published in the Federal Register on Monday, August 
7, 2006 (71 FR 44600) clarifying the circumstances in which accounts or 
notes receivable are ``acquired * * * for services rendered'' within 
the meaning of section 1221(a)(4) of the Internal Revenue Code.

FOR FURTHER INFORMATION CONTACT: K. Scott Brown (202) 622-7454 (not a 
toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The notice of proposed rulemaking (REG-109367-06) that is the 
subject of this correction is under section 1221 of the Internal 
Revenue Code.

Need for Correction

    As published, REG-109367-06 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-
109367-06) which was the subject of FR Doc. E6-12789, is corrected as 
follows:
    1. On page 44600, column 1, in the preamble, under the caption FOR 
FURTHER INFORMATION CONTACT, line 2, the language ``Scott Brown (202) 
622-3920 (not a toll-'' is corrected to read ``Scott Brown (202) 622-
7454 (not a toll-''.

Guy Traynor,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel (Procedure and Administration).
 [FR Doc. E6-14003 Filed 8-23-06; 8:45 am]
BILLING CODE 4830-01-P