[Federal Register Volume 87, Number 35 (Tuesday, February 22, 2022)]
[Rules and Regulations]
[Page 9445]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-03611]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9960]
RIN 1545-BO59


Guidance on Passive Foreign Investment Companies; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correcting amendment.

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SUMMARY: This document contains corrections to the final regulations 
Treasury Decision 9960 published in the Federal Register on Tuesday, 
January 25, 2022. The final regulations regarding the treatment of 
domestic partnerships for purposes of determining amounts included in 
the gross income of their partners with respect to foreign 
corporations.

DATES: These corrections are effective on February 22, 2022, and 
applicable on or after January 25, 2022.

FOR FURTHER INFORMATION CONTACT: Edward J. Tracy at (202) 317-6934 (not 
a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The final regulations (TD 9960) subject to this correction are 
issued under section 951 of the Internal Revenue Code.

Need for Correction

    As published on January 25, 2022 (87 FR 3648), the final 
regulations (TD 9960) contain errors that need to be corrected.

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 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.  1.958-1  [Corrected]

0
Par. 2. Section 1.958-1(d)(3)(iii)(B)(3) is corrected by removing the 
word ``note'' and adding the word ``account'' in its place.

Oluwafunmilayo A. Taylor,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel, (Procedure and Administration).
[FR Doc. 2022-03611 Filed 2-18-22; 8:45 am]
BILLING CODE 4830-01-P