[Federal Register Volume 72, Number 185 (Tuesday, September 25, 2007)]
[Rules and Regulations]
[Page 54350]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E7-18807]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9347]
RIN 1545-AY22


Corporate Estimated Tax; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correcting amendment.

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SUMMARY: This document contains a correction to final regulations (TD 
9347) that were published in the Federal Register on Tuesday, August 7, 
2007 (72 FR 44338) providing guidance to corporations with respect to 
estimated tax requirements.

DATES: The correction is effective September 25, 2007.

FOR FURTHER INFORMATION CONTACT: Timothy Sheppard at (202) 622-4910 
(not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The final regulations that are the subject of this correction are 
under sections 6425 and 6655 of the Internal Revenue Code.

Need for Correction

    As published, final regulations (TD 9347) contain an error that may 
prove to be misleading and is in need of clarification.

List of Subjects in 26 CFR Part 1

    Income taxes, Reporting and recordkeeping requirements.

Correction of Publication

0
Accordingly, 26 CFR part 1 is corrected by making the following 
amendments:

PART 1--INCOME TAXES

0
Paragraph 1. The authority citation for part 1 continues to read, in 
part, as follows:

    Authority: 26 U.S.C. 7805 * * *


0
Par. 2. Section 1.6655-2 is amended by revising the fifth sentence of 
paragraph (g)(2) Example. to read as follows:


Sec.  1.6655-2  Annualized income installment method.

* * * * *
    (g) * * *
    (2) * * *

    Example. * * * For the first installment period in 2008, ABC is 
permitted to recognize a deduction under section 199 of $3,000 
($50,000 x .06 = $3,000) subject to the wage limitation of $5,000 
(50 percent of $10,000 of W-2 wages incurred during the first 
installment period). * * *
* * * * *

LaNita Van Dyke,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel (Procedure and Administration).
 [FR Doc. E7-18807 Filed 9-24-07; 8:45 am]
BILLING CODE 4830-01-P