[Federal Register Volume 77, Number 129 (Thursday, July 5, 2012)]
[Proposed Rules]
[Page 39655]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-16378]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-134042-07]
RIN 1545-BG81


Basis of Indebtedness of S Corporations to Their Shareholders; 
Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to a notice of proposed rulemaking and notice of 
public hearing.

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SUMMARY: This document corrects a notice of proposed rulemaking and 
notice of public hearing (REG-134042-07) that was published in the 
Federal Register on Tuesday, June 12, 2012 (77 FR 34884) relating to 
basis of indebtedness of S corporations to their shareholders.

FOR FURTHER INFORMATION CONTACT: Concerning the proposed regulations, 
Caroline E. Hay at (202) 622-3070; concerning the submissions of 
comments, the hearing and/or to be placed on the building access list 
to attend the hearing, Mrs Oluwafunmilayo (Funmi) Taylor, at (202) 622-
7180 (not toll-free numbers).

SUPPLEMENTARY INFORMATION:

Background

    The notice of proposed rulemaking and notice of public hearing 
(REG-134042-07) that is the subject of this correction is under section 
1366 of the Internal Revenue Code.

Need for Correction

    As published, REG-134042-07, contains errors that may prove to be 
misleading and are in need of clarification.

Correction of Publication

    Accordingly, the publication of the correction to a notice of 
proposed rulemaking and notice of public hearing (REG-134042-07), which 
was the subject of FR. Doc. 2012-14188, is corrected as follows:
    1. On page 34884, column 2, in the preamble, under the caption 
DATES, line 5 of the paragraph, the language ``hearing scheduled for 
October 8, 2012,'' is corrected to read ``hearing scheduled for October 
9, 2012''.
    2. On page 34886, column 1, in the preamble, under the paragraph 
heading ``Comments and Requests for a Public Hearing'', second 
paragraph, line two, the language ``for October 8, 2012, beginning at 
10 a.m.'' is corrected to read ``for October 9, 2012, beginning at 10 
a.m.''.

LaNita Van Dyke,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel (Procedure and Administration).
[FR Doc. 2012-16378 Filed 7-3-12; 8:45 am]
BILLING CODE 4830-01-P