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Home » 2006 Issues » 71 FR (05/02/2006) » 06-4088. Revisions to Regulations Relating to Withholding of Tax on Certain U.S. Source Income Paid to Foreign Persons and Revisions of Information Reporting Regulations; Correction

  06-4088. Revisions to Regulations Relating to Withholding of Tax on Certain U.S. Source Income Paid to Foreign Persons and Revisions of Information Reporting Regulations; Correction  

  • Start Preamble

    AGENCY:

    Internal Revenue Service (IRS), Treasury.

    ACTION:

    Correcting amendment.

    SUMMARY:

    This document corrects final regulations and removal of temporary regulations (TD 9253) that was published in the Federal Register on Tuesday, March 14, 2006 (71 FR 13003) relating to the withholding of tax under section 1441 on certain U.S. source income paid to foreign persons and related requirements governing collection, deposit, refunds, and credits of withheld amounts under sections 1461 through 1463.

    DATES:

    This correction is effective March 14, 2006.

    Start Further Info

    FOR FURTHER INFORMATION CONTACT:

    Ethan Atticks, (202) 622-3840 (not a toll-free number).

    End Further Info End Preamble Start Supplemental Information

    SUPPLEMENTARY INFORMATION:

    Background

    The final regulations and removal of temporary regulations (TD 9253) that is the subject of this correction are under section 1441 of the Internal Revenue Code.

    Need for Correction

    As published, TD 9253 contains an error that may prove to be misleading and is 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 Start Printed Page 25748

    Correction of Publication

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

    End Amendment Part Start Part

    PART 1—INCOME TAXES

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

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

    End Authority
    [Corrected]
    Start Amendment Part

    Par. 2. Section 1.1441-6(b)(1) is amended by removing the language “If the beneficial owner is related to the person obligated to pay the income, within the meaning of section 267(b) or 707(b), the withholding certificate must also contain a representation that the beneficial owner will file the statement required under § 301.6114-1(d) of this chapter (if applicable). The requirement to file an information statement under section 6114 for income subject to withholding applies only to amounts received during the taxpayer's taxable year that, in the aggregate, exceed $500,000. See § 301.6114-1(d) of this chapter.”.

    End Amendment Part Start Signature

    Guy R. Traynor,

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

    End Signature End Supplemental Information

    [FR Doc. 06-4088 Filed 5-1-06; 8:45 am]

    BILLING CODE 4830-01-P

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Document Information

Effective Date:
3/14/2006
Published:
05/02/2006
Department:
Internal Revenue Service
Entry Type:
Rule
Action:
Correcting amendment.
Document Number:
06-4088
Dates:
This correction is effective March 14, 2006.
Pages:
25747-25748 (2 pages)
Docket Numbers:
TD 9253
RINs:
1545-AY92: Transitional Relief for Qualified Intermediaries
RIN Links:
https://www.federalregister.gov/regulations/1545-AY92/transitional-relief-for-qualified-intermediaries
Topics:
Income taxes, Reporting and recordkeeping requirements
PDF File:
06-4088.pdf
CFR: (1)
26 CFR 1.1441-6