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Home » 2018 Issues » 83 FR (03/13/2018) » 2018-05011. Allocation of Mortgage Insurance Premiums; Correction

  2018-05011. Allocation of Mortgage Insurance Premiums; Correction  

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    AGENCY:

    Internal Revenue Service (IRS), Treasury.

    ACTION:

    Correcting amendment.

    SUMMARY:

    This document contains corrections to final regulations (TD 9588) that were published in the Federal Register on Monday, May 7, 2012. The final regulations are related to allocate prepaid qualified mortgage insurance premiums to determine the amount of the prepaid premium that is treated as qualified residence interest each taxable year.

    DATES:

    This correction is effective on March 13, 2018 and is applicable on or after May 7, 2012.

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    FOR FURTHER INFORMATION CONTACT:

    Regina Johnson, (202) 317-5177 (not a toll-free number).

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    SUPPLEMENTARY INFORMATION:

    Background

    The final regulations (TD 9588) that are the subject of this correction are issued under section 163 of the Internal Revenue Code.

    Need for Correction

    As published May 7, 2012 (77 FR 26698), the final regulations (TD 9588) contain an error that needs to be corrected.

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    List of Subjects in 26 CFR Part 1

    • Income taxes, reporting and recordkeeping requirements
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    Correction of Publication

    Accordingly, 26 CFR part 1 is corrected by making the following correcting amendment:

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    PART 1—INCOME TAXES

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    Par. 1. The authority citation for part 1 is amended by removing the sectional authority for § 1.163-11T, and the general authority continues to read as follows:

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    Authority: 26 U.S.C. 7805 * * *

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    * * * * *
    Start Signature

    Martin V. Franks,

    Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel, (Procedure and Administration).

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    [FR Doc. 2018-05011 Filed 3-12-18; 8:45 am]

    BILLING CODE 4830-01-P

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Document Information

Effective Date:
3/13/2018
Published:
03/13/2018
Department:
Internal Revenue Service
Entry Type:
Rule
Action:
Correcting amendment.
Document Number:
2018-05011
Dates:
This correction is effective on March 13, 2018 and is applicable on or after May 7, 2012.
Pages:
10785-10785 (1 pages)
Docket Numbers:
TD 9588
RINs:
1545-BL87: Treatment of Certain Property Transfers to Foreign Corporations
RIN Links:
https://www.federalregister.gov/regulations/1545-BL87/treatment-of-certain-property-transfers-to-foreign-corporations
Topics:
Income taxes, Reporting and recordkeeping requirements
PDF File:
2018-05011.pdf
Supporting Documents:
» Annual Information Return/Reports
» Income Taxes; CFR Correction
» Income Taxes; CFR Correction
» Income Taxes; CFR Correction
» Income Taxes; CFR Correction
» Income Taxes; CFR Correction
» Income Taxes; CFR Correction
» Annual Information Return/Reports
» Taxable Year of Income Inclusion Under an Accrual Method of Accounting and Advance Payments for Goods, Services, and Other Items
» Base Erosion and Anti-Abuse Tax; Correcting Amendment
CFR: (1)
26 CFR 1