[Federal Register Volume 84, Number 230 (Friday, November 29, 2019)]
[Rules and Regulations]
[Pages 65675-65676]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-25858]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Parts 1

[TD 9623]
RIN 1545-BI99


Application of Section 108(i) to Partnerships and S Corporations; 
Correcting Amendment

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correcting amendment.

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SUMMARY: This document contains a correction to final regulations and 
removal of temporary regulations (T.D. 9623) that were published in the 
Federal Register on Wednesday, July 3, 2013. The final regulations 
relate to the application of section 108(i) of the Internal Revenue 
Code to partnerships and S corporations and provide rules regarding the 
deferral of discharge of indebtedness income and original issue 
discount deductions by a partnership or an S corporation with respect 
to reacquisitions of applicable debt instruments after December 31, 
2008, and before January 1, 2011.

DATES: This correction is effective on November 29, 2019, and is 
applicable on or after July 2, 2013.

FOR FURTHER INFORMATION CONTACT: Mary Beth Carchia at (202) 317-5279 
(not a toll-free number).

SUPPLEMENTARY INFORMATION: 

Background

    The final regulations and removal of temporary regulations (T.D. 
9623) that is the subject of this correction are under section 108(i) 
of the Internal Revenue Code.

Need for Correction

    As published July 3, 2013 (78 FR 39973), the final regulations and 
removal of temporary regulations (T.D. 9623) contain an error that may 
prove to be misleading and needs clarification.

List of Subjects in 26 CFR Part 1

    Income taxes, Reporting and recordkeeping requirements.

Correction of Publication

    Accordingly, 26 CFR part 1 is corrected by making the following 
correcting amendment:

PART 1--INCOME TAXES

0
Paragraph 1. The authority citation for part 1 is amended by removing 
the sectional authority for Sec.  1.108(i)-2T to read in part as 
follows:


[[Page 65676]]


    Authority: 26 U.S.C. 7805, unless otherwise noted.
* * * * *

Martin V. Franks,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel (Procedure and Administration) .
[FR Doc. 2019-25858 Filed 11-27-19; 8:45 am]
BILLING CODE 4830-01-P