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Home » 2016 Issues » 81 FR (07/05/2016) » 2016-15739. Self-Employment Tax Treatment of Partners in a Partnership That Owns a Disregarded Entity; Correction

  2016-15739. Self-Employment Tax Treatment of Partners in a Partnership That Owns a Disregarded Entity; Correction  

  • Start Preamble

    AGENCY:

    Internal Revenue Service (IRS), Treasury.

    ACTION:

    Final and temporary regulations; correcting amendment.

    SUMMARY:

    This document contains a correction to final and temporary regulations (TD 9766) that were published in the Federal Register on May 4, 2016 (81 FR 26693). The final and temporary regulations clarify the employment tax treatment of partners in a partnership that owns a disregarded entity.

    DATES:

    This correction is effective on July 5, 2016 and applicable on May 4, 2016.

    Start Further Info

    FOR FURTHER INFORMATION CONTACT:

    Andrew Holubeck at (202) 317-4774 (not a toll free number).

    End Further Info End Preamble Start Supplemental Information

    SUPPLEMENTARY INFORMATION:

    Background

    The final and temporary regulations (TD 9766) that are the subject of this correction are under section 7701 of the Internal Revenue Code.

    Need for Correction

    As published, the final and temporary regulations (TD 9766) 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 301

    • Employment taxes
    • Estate taxes
    • Excise taxes
    • Gift taxes
    • Income taxes
    • Penalties
    • Reporting and recordkeeping requirements
    End List of Subjects

    Correction of Publication

    Accordingly, 26 CFR part 301 is corrected by making the following correcting amendment:

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    PART 301—PROCEDURE AND ADMINISTRATION

    End Part Start Amendment Part

    Paragraph 1. The authority citation for part 301 continues to read in part as follows:

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

    End Authority Start Amendment Part

    Par. 2. Section 301.7701-2T is amended by revising paragraph (e)(8)(ii) to read as follows:

    End Amendment Part
    Business entities; definitions (temporary).
    * * * * *

    (e) * * *

    (8) * * *

    (ii) Expiration date. The applicability of paragraph (c)(2)(iv)(C)(2) of this section expires on or before May 3, 2019, or such earlier date as may be determined under amendments to the regulations issued after May 3, 2016.

    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. 2016-15739 Filed 7-1-16; 8:45 am]

    BILLING CODE 4830-01-P

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Document Information

Effective Date:
7/5/2016
Published:
07/05/2016
Department:
Internal Revenue Service
Entry Type:
Rule
Action:
Final and temporary regulations; correcting amendment.
Document Number:
2016-15739
Dates:
This correction is effective on July 5, 2016 and applicable on May 4, 2016.
Pages:
43488-43488 (1 pages)
Docket Numbers:
TD 9766
RINs:
1545-BM87: Self-Employment Tax Treatment of Partners in a Partnership That Owns a Disregarded Entity (Temporary)
RIN Links:
https://www.federalregister.gov/regulations/1545-BM87/self-employment-tax-treatment-of-partners-in-a-partnership-that-owns-a-disregarded-entity-temporary-
Topics:
Employment taxes, Estate taxes, Excise taxes, Gift taxes, Income taxes, Penalties, Reporting and recordkeeping requirements
PDF File:
2016-15739.pdf
CFR: (1)
26 CFR 301.7701-2T