[Federal Register Volume 78, Number 21 (Thursday, January 31, 2013)]
[Proposed Rules]
[Pages 6781-6782]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-02039]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-130507-11]
RIN 1545-BK44


Net Investment Income Tax; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

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

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SUMMARY: This document contains corrections to a notice of proposed 
rulemaking and notice of public hearing (REG-130507-11) that was 
published in the Federal Register on Wednesday, December 5, 2012 (77 FR 
72612). The proposed regulations provide guidance under section 1411 of 
the Internal Revenue Code.

FOR FURTHER INFORMATION CONTACT: David H. Kirk, or Adrienne Mikolashek 
at (202) 622-3060 (not a toll free number).

SUPPLEMENTARY INFORMATION: 

Background

    The notice of proposed rulemaking and notice of public hearing 
(REG-130507-11) that is the subject of these corrections is under 
Section 1411 of the Internal Revenue Code.

Need for Correction

    As published, the notice of proposed rulemaking and notice of 
public hearing (REG-130507-11) contains errors that may prove to be 
misleading and are in need of clarification.

Correction of Publication

    Accordingly, the notice of proposed rulemaking and notice of public 
hearing (REG-130507-11), that was the subject of FR Doc. 2012-29238, is 
corrected as follows:

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1. On page 72612, in the preamble, column 1, under the caption FOR

[[Page 6782]]

FURTHER INFORMATION, lines 2 and 3, the language ``Michala Irons, (202) 
622-3050, or David H. Kirk, (202) 622-3060; concerning'' is corrected 
to read ``David H. Kirk, or Adrienne Mikolashek (202) 622-3060; 
concerning''.
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2. On page 72621, in the preamble, column 2, line 3, the language 
``corporation, is engaged in trade or'' is corrected to read 
``corporation, is engaged in a trade or''.
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3. On page 72630, in the preamble, column 3, line 7, the language ``the 
meaning section 316(a), or any gain'' is corrected to read ``the 
meaning of section 316(a), or any gain''.
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4. On page 72631, in the preamble, column 3, line 13 from the bottom of 
the column, the language ``adjusted gross, or the estate's or trust's'' 
is corrected to read ``adjusted gross income, or the estate's or 
trust's''.


Sec.  1.1411-4  [Corrected]

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5. On page 72638, column 3, under the paragraph heading Sec.  1.1411-4 
Definition of net investment income., Sec.  1.1411-4(c)(2), line 3, the 
language ``described in Sec.  1.1411-5(a)(2)),'' is corrected to read 
``described in Sec.  1.1411-5(a)(2),''.


Sec.  1.1411-7  [Corrected]

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6. On page 72646, column 1, under the paragraph heading Sec.  1.1411-7 
Exception for dispositions of interests in partnerships and S 
corporations., Sec.  1.1411-7(b)(4), line 2, the language '' Because 
both properties are used in PRS's in'' is corrected to read ``Because 
both properties are used in PRS's''.
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7. On Page 72646, column 1, under the same paragraph heading, Sec.  
1.1411-7(b)(4) Example 7 (i), line 9, the language ``a trade or 
business is described in Sec.  1.1411-'' is corrected to read ``a trade 
or business described in Sec.  1.1411-''.
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8. On Page 72646, column 2, under the same paragraph heading, Sec.  
1.1411-7(b)(4) Example 8 (i), line 2 from the bottom of the column, the 
language ``following adjusted basis and fair market'', is corrected to 
read ``following adjusted bases and fair market''.


Sec.  1.1411-10  [Corrected]

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9. On page 72649, column 1, under the paragraph heading Sec.  1.1411-10 
Controlled foreign corporations and passive foreign investment 
companies., Sec.  1.1411-10(d)(1)(i), line 5, the language '' by an 
individual, estate or trust'' is corrected to read '' by an individual, 
estate, or trust''.
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10. On page 72649, column 2, under the same paragraph heading, Sec.  
1.1411-10(d)(1)(i)(B), line 2, the language ``individual, estate or 
trust pursuant to'' is corrected to read ``individual, estate, or trust 
pursuant to''.
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11. On page 72651, column 1, under the same paragraph heading, Sec.  
1.1411-10(h) Example 2 (ii)(A),line 2, the language ``1411(c)(1)(A)(i) 
and Sec.  1411(c)(1)(A)(i).'' Is corrected to read ``1411(c)(1)(A)(i) 
and Sec.  1.1411-4(a)(1)(i).''.

LaNita VanDyke,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel, (Procedure and Administration).
[FR Doc. 2013-02039 Filed 1-30-13; 8:45 am]
BILLING CODE 4830-01-P