eLaws | eCases | United States Code | Federal Courts |
Home » 2002 Issues » 67 FR (05/13/2002) » 02-11793. Hedging Transactions; Corrections

  02-11793. Hedging Transactions; Corrections  

  • Start Preamble

    AGENCY:

    Internal Revenue Service (IRS), Treasury.

    ACTION:

    Correcting amendment.

    SUMMARY:

    This document contains corrections to final regulations that were published in the Federal Register on Wednesday, March 20, 2002 (67 FR 12863) relating to the character of gain or loss from hedging transactions.

    DATES:

    This correction is effective March 20, 2002.

    Start Further Info

    FOR FURTHER INFORMATION CONTACT:

    Elizabeth Handler (202) 622-3930 or Viva Hammer (202) 622-0869 (not toll-free numbers).

    End Further Info End Preamble Start Supplemental Information

    SUPPLEMENTARY INFORMATION:

    Background

    The final regulations that are the subject of these corrections are under section 1221 of the Internal Revenue Code.

    Need for Correction

    As published, the final regulations contain errors that may prove to be misleading and are in need of clarification.

    Start List of Subjects

    List of Subjects in 26 CFR Part 1

    • Income taxes
    • Reporting and recordkeeping requirements
    End List of Subjects

    Correction of Publication

    Accordingly, 26 CFR Part 1 is corrected by making the following correcting amendments:

    Start Part

    PART 1—INCOME TAXES

    End Part Start Amendment Part

    1. The authority citation for part 1 continues to read in part as follows:

    End Amendment Part Start Authority

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

    End Authority
    [Corrected]
    Start Amendment Part

    2. Section 1.446-4, paragraph (d)(3) is amended by removing the language “§ 1.1221-2(a)(4)(i)” from the last sentence and adding the language “§ 1.1221-2(a)(4)” in its place.

    End Amendment Part
    [Corrected]
    Start Amendment Part

    3. Section 1.1256(e)-1, paragraph (c) is amended by removing the language “(f)(1)(ii)” from the second sentence and adding the language “(g)(1)(ii)” in its place.

    End Amendment Part Start Signature

    Cynthia E. Grigsby,

    Chief, Regulations Unit, Associate Chief Counsel (Income Tax and Accounting).

    End Signature End Supplemental Information

    [FR Doc. 02-11793 Filed 5-10-02; 8:45 am]

    BILLING CODE 4830-01-P

Visit the Official Version
Leave a Comment

Document Information

Effective Date:
3/20/2002
Published:
05/13/2002
Department:
Internal Revenue Service
Entry Type:
Rule
Action:
Correcting amendment.
Document Number:
02-11793
Dates:
This correction is effective March 20, 2002.
Pages:
31955-31955 (1 pages)
Docket Numbers:
TD 8985
RINs:
1545-AY02: Hedging Transactions Under Section 1221(a)(7) and Section 446
RIN Links:
https://www.federalregister.gov/regulations/1545-AY02/hedging-transactions-under-section-1221-a-7-and-section-446
Topics:
Income taxes, Reporting and recordkeeping requirements
PDF File:
02-11793.pdf
CFR: (2)
26 CFR 1.1256(e)-1
26 CFR 1.446-4