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Home » 2015 Issues » 80 FR (06/15/2015) » 2015-14622. Notional Principal Contracts; Swaps With Nonperiodic Payments; Correction

  2015-14622. Notional Principal Contracts; Swaps With Nonperiodic Payments; Correction  

  • Start Preamble

    AGENCY:

    Internal Revenue Service (IRS), Treasury.

    ACTION:

    Correcting amendment.

    SUMMARY:

    This document contains corrections to final regulations (TD 9719) that were published in the Federal Register on May 8, 2015 (80 FR 26437). The final regulations amend the treatment of nonperiodic payments made or received pursuant to certain notional principal contracts.

    DATES:

    This correction is effective on June 15, 2015 and applicable May 8, 2015.

    Start Further Info

    FOR FURTHER INFORMATION CONTACT:

    Alexa T. Dubert at (202) 317-6895 (not a toll free number).

    End Further Info End Preamble Start Supplemental Information

    SUPPLEMENTARY INFORMATION:

    Background

    The final regulations (TD 9719) that are the subject of this correction is under section 446 of the Internal Revenue Code.

    Need for Correction

    As published, the final regulations (TD 9719) contain 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

    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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    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 1.446-3 is amended by removing paragraph (k).

    End Amendment Part Start Signature

    Martin V. Franks,

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

    End Signature End Supplemental Information

    [FR Doc. 2015-14622 Filed 6-12-15; 8:45 am]

    BILLING CODE 4830-01-P

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Document Information

Effective Date:
6/15/2015
Published:
06/15/2015
Department:
Internal Revenue Service
Entry Type:
Rule
Action:
Correcting amendment.
Document Number:
2015-14622
Dates:
This correction is effective on June 15, 2015 and applicable May 8, 2015.
Pages:
34051-34051 (1 pages)
Docket Numbers:
TD 9719
RINs:
1545-BM62: Notional Principal Contracts; Swaps With Nonperiodic Payments (Temporary)
RIN Links:
https://www.federalregister.gov/regulations/1545-BM62/notional-principal-contracts-swaps-with-nonperiodic-payments-temporary-
Topics:
Income taxes, Reporting and recordkeeping requirements
PDF File:
2015-14622.pdf
CFR: (1)
26 CFR 1.446-3