[Federal Register Volume 64, Number 243 (Monday, December 20, 1999)]
[Rules and Regulations]
[Pages 71021-71022]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-32915]
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DEPARTMENT OF TREASURY
Internal Revenue Service
26 CFR Part 20
[TD 8846]
RIN 1545-AV45
Deductions for Transfers for Public, Charitable, and Religious
Uses; In General Marital Deduction; Valuation of Interest Passing to
Surviving Spouse; Correction
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Correction to final regulations.
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SUMMARY: This document contains corrections to final regulations which
were published in the Federal Register on Friday, December 3, 1999, 64
FR 67763, relating to the effect of certain administration expenses on
the valuation of property for marital and charitable deduction
purposes.
DATES: This correction is effective December 3, 1999.
FOR FURTHER INFORMATION CONTACT: Deborah Ryan, (202) 622-3090 (not a
toll-free number).
[[Page 71022]]
SUPPLEMENTARY INFORMATION:
Background
The final regulations that are subject to these corrections are
under section 2055 and 2056 of the Internal Revenue Code.
Need for Correction
As published, final regulations (TD 8846) contain errors that may
prove to be misleading and are in need of clarification.
Correction of Publication
Accordingly, the publication of the final regulations (TD 8846),
which were the subject of FR Doc. 99-31094, is corrected as follows:
Sec. 20.2055-3 [Corrected]
1. On page 67765, column 1, Sec. 20.2055-3(b)(1)(ii), line 5 from
bottom of the paragraph, the language ``related to investment,
preservation, and'' is corrected to read ``related to investment,
preservation, or''.
Sec. 20.2056(b)-4 [Corrected]
2. On page 67765, column 3, Sec. 20.2056(b)-4(d)(1)(ii), line 5
from the bottom of the paragraph, the language ``related to investment,
preservation, and'' is corrected to read ``related to investment,
preservation, or''.
3. On page 67766, column 3, Sec. 20.2056(b)-4(d)(5), Example 5,
line 6 from the bottom of the paragraph, the language ``remains
$1,800,000. The applicable'' is corrected to read ``is $2,000,000. The
applicable''.
4. On page 67766, column 3, Sec. 20.2056(b)-4(d)(5), Example 5,
lines 2 and 3 from the bottom of the paragraph, the language ``trust
and $200,000 of the $2,000,000 passing to the marital trust so that the
amount of'' is corrected to read ``trust so that the amount of''.
5. On page 67766, column 3, Sec. 20.2056(b)-4(d)(5), Example 7,
line 7, the language ``decedent's child. Under the terms of the'' is
corrected to read ``decedent's child. Under the terms of the governing
instrument and''.
Cynthia E. Grigsby,
Chief, Regulations Unit,
Assistant Chief Counsel (Corporate).
[FR Doc. 99-32915 Filed 12-17-99; 8:45 am]
BILLING CODE 4830-01-U
