[Federal Register Volume 81, Number 221 (Wednesday, November 16, 2016)]
[Rules and Regulations]
[Page 80587]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-27515]


=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9787]
RIN 1545-BK29


Section 707 Regarding Disguised Sales, Generally; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correcting amendment.

-----------------------------------------------------------------------

SUMMARY: This document contains corrections to final regulations (TD 
9787) that were published in the Federal Register on Wednesday, October 
5, 2016 (81 FR 69291). The final regulations are under sections 707 and 
752 of the Internal Revenue Code.

DATES: This correction is effective November 16, 2016 and is applicable 
on and after October 5, 2016.

FOR FURTHER INFORMATION CONTACT: Deane M. Burke or Caroline E. Hay at 
(202) 317-5279 (not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The final regulations (TD 9787) that are the subject of this 
correction are under sections 707 and 752 of the Internal Revenue Code.

Need for Correction

    As published, the final regulations (TD 9787) contain errors that 
may prove to be misleading and are 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 
correcting 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 * * *

    Section 1.707-5 also issued under 26 U.S.C. 707(a)(2)(B).


Sec.  1.707-5   [Amended]

0
Par. 2. For each entry in Sec.  1.707-5(f) in the ``Section'' column, 
remove the language in the ``Remove'' column from wherever it appears 
in the Example and add in its place the language in the ``Add'' column 
as set forth below:

------------------------------------------------------------------------
                       Section                          Remove     Add
------------------------------------------------------------------------
Paragraph (f) Example 5(i)..........................       2016     2017
Paragraph (f) Example 10(i).........................       2016     2017
Paragraph (f) Example 10(ii)........................       2016     2017
Paragraph (f) Example 11(i).........................       2016     2017
Paragraph (f) Example 11(ii)........................       2016     2017
Paragraph (f) Example 12(i).........................       2016     2017
------------------------------------------------------------------------


Martin V. Franks,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel (Procedure and Administration).
[FR Doc. 2016-27515 Filed 11-15-16; 8:45 am]
 BILLING CODE 4830-01-P