[Federal Register Volume 87, Number 37 (Thursday, February 24, 2022)]
[Rules and Regulations]
[Pages 10305-10306]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-03612]


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

DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9960]
RIN 1545-BP79


Guidance Under Section 958 on Determining Stock Ownership; 
Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Final regulations; correction.

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

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 24, 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, the final regulations (TD 9960), contain errors that 
need to be corrected.

Correction of Publication

    Accordingly, the final regulation (TD 9960), that are the subject 
of FR Doc. 2022-00066, published on January 25, 2022 (87 FR 3648), are 
corrected to read as follows:
    On page 3652, the third column, the thirty-second line through the 
forty-third line from the top of the first full paragraph is corrected 
to read ``year ending December 31, 2023. Accordingly, for their taxable 
year ending December 31, 2023, the U.S. shareholder partners would have 
a distributive share of the partnership's section 951 inclusion for the 
CFC's taxable year ending December 31, 2022 (for the U.S. shareholder 
partnership's taxable year ending June 30, 2023) and would also have a 
direct section 951 inclusion for the CFC's

[[Page 10306]]

taxable year ending December 31, 2023.''

Oluwafunmilayo A. Taylor,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel, (Procedure and Administration).
[FR Doc. 2022-03612 Filed 2-23-22; 8:45 am]
BILLING CODE 4830-01-P