97-7945. Intangibles Under Sections 1060 and 338; Correction

[Federal Register Volume 62, Number 60 (Friday, March 28, 1997)]
[Rules and Regulations]
[Page 14821]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-7945]


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

DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 8711]
RIN 1545-AU82


Intangibles Under Sections 1060 and 338; Correction

AGENCY: Internal Revenue Service, Treasury.

ACTION: Correction to temporary regulations.

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

SUMMARY: This document contains a correction to final and temporary 
regulations (TD 8711) which were published in the Federal Register on 
Thursday, January 16, 1997 (62 FR 2267). The temporary regulations 
relate to the purchase price allocations in taxable asset acquisitions 
and deemed asset purchases.

EFFECTIVE DATE: February 14, 1997.

FOR FURTHER INFORMATION CONTACT: Brendan P. O'Hara, [phone] (not 
a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The temporary regulations that are the subject of this correction 
are under section 1060 of the Internal Revenue Code.

Need for Correction

    As published, the temporary regulations (TD 8711) contain an error 
which may prove to be misleading and are in need of clarification.

Correction of Publication

    Accordingly, the publication of the temporary regulations (TD 8711) 
which are the subject of FR Doc. 97-656 is corrected as follows:


Sec. 1.1060-1T  [Corrected]

    On page 2272, column 3, in amendatory ``Par. 6.'', item 2, line 2, 
the language ``outline of topics entries for (a)(2), (b)(2)'' is 
corrected to read ``outline of topics entries for (a)(2), (d)(2)''.
Cynthia E. Grigsby,
Chief, Regulations Unit, Assistant Chief Counsel (Corporate).
[FR Doc. 97-7945 Filed 3-27-97; 8:45 am]
BILLING CODE 4830-01-U