04-13954. National Principal Contracts; Contingent Nonperiodic Payments; Correction  

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    AGENCY:

    Internal Revenue Service (IRS), Treasury.

    ACTION:

    Correction to a correction notice for proposed regulations.

    SUMMARY:

    This document contains a correction to a correction notice for proposed regulations that were published in the Federal Register on March 23, 2004 (69 FR 13498) relating to the inclusion into income or deduction of a contingent nonperiodic payment provided for under a notional principal contract (NPC).

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    FOR FURTHER INFORMATION CONTACT:

    Kate Sleeth, (202) 622-3920 (not a toll free number).

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    SUPPLEMENTARY INFORMATION:

    Background

    The correction notice that is the subject of this document is under section 446 of the Internal Revenue Code.

    Need for Correction

    As published, the correction notice (REG-166012-02), contains an error that may prove to be misleading and is in need of clarification.

    Correction of Publication

    Accordingly, the correction notice (REG-166012-02), which was the subject of FR Doc. 04-6468, is corrected as follows:

    On page 13498, columns 1 and 2, under the paragraph heading “Correction of Publication”, number 1 is corrected to read as follows:

    1. On page 8886, column 1, in the heading, the subject line “National Principal Contracts; Contingent Nonperiodic Payments” is corrected to read “Notional Principal Contracts; Contingent Nonperiodic Payments''.

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    Cynthia Grigsby,

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

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    [FR Doc. 04-13954 Filed 6-18-04; 8:45 am]

    BILLING CODE 4830-01-P

Document Information

Published:
06/21/2004
Department:
Internal Revenue Service
Entry Type:
Proposed Rule
Action:
Correction to a correction notice for proposed regulations.
Document Number:
04-13954
Pages:
34322-34322 (1 pages)
Docket Numbers:
REG-166012-02
RINs:
1545-BB82: Notional Principal Contracts; Contingent Nonperiodic Payments
RIN Links:
https://www.federalregister.gov/regulations/1545-BB82/notional-principal-contracts-contingent-nonperiodic-payments
PDF File:
04-13954.pdf
CFR: (1)
26 CFR 1