[Federal Register Volume 83, Number 194 (Friday, October 5, 2018)]
[Rules and Regulations]
[Pages 50258-50259]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-21673]


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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.

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

DATES: This correction is effective October 5, 2018 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), published October 5, 2016 (81 FR 
69291), 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 an error 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.

[[Page 50259]]

Correction of Publication

    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 * * *


Sec.  1.707-9  [Amended]

0
Par. 2. Section 1.707-9 is amended by revising the second sentence in 
paragraph (a)(1) to read as follows:


Sec.  1.707-9  Effective dates and transitional rules.

    (a) * * *
    (1) * * * For any transaction with respect to which all transfers 
that are part of a sale of an item of property occur after April 24, 
1991, and any of such transfers occurs before October 5, 2016, 
Sec. Sec.  1.707-3 through 1.707-6 as contained in 26 CFR part 1 
revised as of April 1, 2016, apply.
* * * * *

Martin V. Franks,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel (Procedure and Administration).
[FR Doc. 2018-21673 Filed 10-4-18; 8:45 am]
BILLING CODE 4830-01-P