[Federal Register Volume 61, Number 63 (Monday, April 1, 1996)]
[Rules and Regulations]
[Pages 14247-14248]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-7772]
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DEPARTMENT OF THE TREASURY
26 CFR Part 1
[TD 8657]
RIN 1545-AQ58
Regulations on Effectively Connected Income and the Branch
Profits Tax; Correction
AGENCY: Internal Revenue Service, Treasury.
ACTION: Correction to final and temporary regulations.
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SUMMARY: This document contains corrections to final Income Tax
Regulations (TD 8657), which were published in the Federal Register on
Friday, March 8, 1996 (61 FR 9336), relating to the determination of
effectively connected income; and final and temporary Income Tax
Regulations relating to the branch-level interest tax, respectively.
EFFECTIVE DATE: June 6, 1996.
FOR FURTHER INFORMATION CONTACT: Gwendolyn A. Stanley, (202) 622-3860
(not a toll-free number).
SUPPLEMENTARY INFORMATION:
Background
The final regulations that are the subject of these corrections are
under sections 861, 864, 871, 884, and 897 of the Internal Revenue
Code.
Need for Correction
As published, the final regulations (TD 8657) contain errors which
may prove to be misleading and are in need of clarification.
Correction of Publication
Accordingly, the publication of the final and temporary regulations
(TD 8657) which are the subject of FR Doc. 96-5261 is corrected as
follows:
Sec. 1.884-1 [Corrected]
1. On page 9338, column 3, in amendatory instruction 11.b. under
``Par. 5.'', Sec. 1.884-1(e)(5) Example 1, the first entry in the table
is corrected to read as follows:
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Sentence Remove Add
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First, third, and fifth sentence.................... 1993 1997
[[Page 14248]]
* * * * *
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Sec. 1.884-5 [Corrected]
2. On page 9343, column 1, Sec. 1.884-5(e)(4)(ii), line 7, the
language ``country in its country of residence'' is corrected to read
``corporation in its country of residence''.
Sec. 1.897-1 [Corrected]
3. On page 9343, column 1, amendatory instruction ``Par. 10.'' is
corrected by removing items 1. and 2. and correcting ``Par. 10.'' to
read as follows:
Par. 10. Paragraph (f)(2)(i) in Sec. 1.897-1 is revised to read as
follows:
Cynthia E. Grigsby,
Chief, Regulations Unit, Assistant Chief Counsel (Corporate).
[FR Doc. 96-7772 Filed 3-29-96; 8:45 am]
BILLING CODE 4830-01-U
