[Federal Register Volume 72, Number 147 (Wednesday, August 1, 2007)]
[Rules and Regulations]
[Page 41890]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E7-14802]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9330]
RIN 1545-BG66


Built-in Gains and Losses Under Section 382(h); Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to temporary regulations.

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SUMMARY: This document contains a correction to temporary regulations 
(TD 9330) that were published in the Federal Register on Thursday, June 
14, 2007 (72 FR 32792) applying to corporations that have undergone 
ownership changes within the meaning of section 382. These regulations 
provide guidance regarding the treatment of prepaid income under the 
built-in gain provisions of section 382(h).

DATES: This correction is effective August 1, 2007.

FOR FURTHER INFORMATION CONTACT: Keith Stanley at (202) 622-7750 (not a 
toll-free number).

SUPPLEMENTARY INFORMATION: 

Background

    The correction notice that is the subject of this document is under 
section 382 of the Internal Revenue Code.

Need for Correction

    As published, temporary regulations (TD 9330) contain an error that 
may prove to be misleading and is in need of clarification.

Correction of Publication

    Accordingly, the publication of the temporary regulations (TD 
9330), which was the subject of FR Doc. E7-11438, is corrected as 
follows:
    On page 32794, column 1, in the preamble, under the paragraph 
heading ``Special Analyses'', line 4, the language ``Executive Order 
12666. Therefore, a'' is corrected to read ``Executive Order 12866. 
Therefore, a''.

LaNita Van Dyke,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel (Procedure and Administration).
 [FR Doc. E7-14802 Filed 7-31-07; 8:45 am]
BILLING CODE 4830-01-P