81 FR 221 pg. 80587 - Section 707 Regarding Disguised Sales, Generally; Correction
Type: RULEVolume: 81Number: 221Page: 80587
Page: 80587Docket number: [TD 9787]
FR document: [FR Doc. 2016-27515 Filed 11-15-16; 8:45 am]
Agency: Treasury Department
Sub Agency: Internal Revenue Service
Official PDF Version: PDF Version
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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.
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
Accordingly, 26 CFR Part 1 is corrected by making the following correcting amendments:
PART 1-INCOME TAXES
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).
§?1.707-5 [Amended]
Par. 2. For each entry in §?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