05-12384. Information Returns by Donees Relating to Qualified Intellectual Property Contributions; Correction

AGENCY:

Internal Revenue Service (IRS), Treasury.

ACTION:

Correcting amendment.

SUMMARY:

This document contains a correction to temporary regulations (TD 9206) that was published in the Federal Register on Monday, May 23, 2005 (70 FR 29450) providing guidance for the filing of information returns by donees relating to qualified intellectual property contributions.

DATES:

This correction is effective May 23, 2005.

FOR FURTHER INFORMATION CONTACT:

Donnell M. Rini-Swyers, [phone] (not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

The final regulation (TD 9206) that is the subject of this correction is under section 6050 of the Internal Revenue Code.

Need for Correction

As published, TD 9206, contains an error that may prove to be misleading and is in need of clarification.

List of Subjects in 26 CFR Part 1

• Income taxes
• Reporting and recordkeeping requirements

Correction of Publication

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

PART 1—INCOME TAXES

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

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

§ 1.6050L-2T

[Corrected]

Section 1.6050L-2T(c)(3) is amended by removing the language “the 90th day following May 23, 2005.” and adding the language “August 22, 2005.” in its place.

Cynthia Grigsby,

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