[Federal Register Volume 73, Number 239 (Thursday, December 11, 2008)]
[Rules and Regulations]
[Page 75326]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E8-29273]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9430]
RIN 1545-BH99


Information Reporting for Discharges of Indebtedness; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to final and temporary regulations.

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SUMMARY: This document contains a correction to final and temporary 
regulations (TD 9430) that were published in the Federal Register on 
Monday, November 10, 2008 (73 FR 66539) relating to information returns 
for cancellation of indebtedness by certain entities. The temporary 
regulations will avoid premature information reporting from certain 
businesses that are currently required to report and will reduce the 
number of information returns required to be filed. The temporary 
regulations will impact certain lenders who are currently required to 
file information returns under the existing regulations.

DATES: Effective Date: This correction is effective December 11, 2008, 
and is applicable on November 10, 2008.

FOR FURTHER INFORMATION CONTACT: Barbara Pettoni, (202) 622-4910 (not a 
toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The final and temporary regulations that are the subject of this 
document are under section 6050P of the Internal Revenue Code.

Need for Correction

    As published, final and temporary regulations (TD 9430) contains an 
error that may prove to be misleading and is in need of clarification.

Correction of Publication

    Accordingly, the publication of the final and temporary regulations 
(TD 9430), which was the subject of FR Doc. E8-26676, is corrected as 
follows:
    On page 66540, column 1, in the preamble, under the paragraph 
heading ``Reasons for Change'', first paragraph of the column, line 14, 
the language ``Treasury Department and IRS is'' is corrected to read 
``Treasury Department and IRS are''.

LaNita Van Dyke,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel (Procedure and Administration).
 [FR Doc. E8-29273 Filed 12-10-08; 8:45 am]
BILLING CODE 4830-01-P