98-27708. Conversion to the Euro; Correction

[Federal Register Volume 63, Number 199 (Thursday, October 15, 1998)]
[Rules and Regulations]
[Page 55333]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-27708]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 8776]
RIN 1545-AW34


Conversion to the Euro; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to temporary regulations.

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SUMMARY: This document contains a correction to Treasury Decision 8776, 
which was published in the Federal Register on Wednesday, July 29, 1998 
(63 FR 40366) relating to U.S. taxpayers operating, investing or 
otherwise conducting business in the currencies of certain European 
countries that are replacing their national currencies with a single, 
multinational currency called the euro.

DATES: This correction is effective July 29, 1998.

FOR FURTHER INFORMATION CONTACT: Howard Weiner, [phone] (not a 
toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The temporary regulations that are the subject of this correction 
are under section 1001 of the Internal Revenue Code.

Need for Correction

    As published, TD 8776 contains an error which may prove to be 
misleading and is in need of clarification.

Correction of Publication

    Accordingly, the publication of the temporary regulations (TD 
8776), which was the subject of FR Doc. 98-20023, is corrected as 
follows:


Sec. 1.985-8T  [Corrected]

    On page 40369, column 2, Sec. 1.985-8T(c)(3)(iv)(B), third line 
from the top of the column, the language ``year of change which 
includes the'' is corrected to read ``year ending immediately prior to 
the year of change which includes the''.
Cynthia E. Grigsby,
Chief, Regulations Unit, Assistant Chief Counsel (Corporate).
[FR Doc. 98-27708 Filed 10-14-98; 8:45 am]
BILLING CODE 4830-01-U