95-7970. Certain Elections Under the Deficit Reduction Act of 1984; Correction

[Federal Register Volume 60, Number 62 (Friday, March 31, 1995)]
[Rules and Regulations]
[Pages 16575-16576]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-7970]



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DEPARTMENT OF THE TREASURY
26 CFR Part 18

[TD 7976]


Certain Elections Under the Deficit Reduction Act of 1984; 
Correction

AGENCY: Internal Revenue Service, Treasury.

ACTION: Correcting amendment.

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SUMMARY: This document contains a correction to the temporary 
regulations (TD 7976), which were published in the Federal Register on 
Monday, September 10, 1984 (49 FR 35486), relating to the time and 
manner of making certain elections under the Deficit Reduction Act of 
1984.

EFFECTIVE DATE: March 31, 1995.

FOR FURTHER INFORMATION CONTACT: Cynthia Grigsby, [phone] (not a 
toll-free call).

SUPPLEMENTARY INFORMATION:

Background

    The temporary regulations that are the subject of this correction 
are under various sections of the Internal Revenue Code of 1954 and the 
Deficit Reduction Act of 1984 (98 Stat. 494).

Need for Correction

    As published, TD 7976 contains an error which may prove to be 
misleading and is in need of clarification.

List of Subjects in 26 CFR Part 18

    Income taxes, Reporting and recordkeeping requirements.

    Accordingly, 26 CFR part 18 is corrected by making the following 
correcting amendment:

PART 18--TEMPORARY INCOME TAX REGULATIONS UNDER THE SUBCHAPTER S 
REVISION ACT OF 1982

    Paragraph 1. The authority citation for part 18 continues to read 
in part as follows:

    [[Page 16576]] Authority: 26 U.S.C. 7805 * * *.

    Par. 2. Section 18.0 is revised to read as follows:


Sec. 18.0  Effective date of temporary regulations under the Subchapter 
S Revision Act of 1982.

    The temporary regulations provided under Secs. 18.1361-1, 18.1377-
1, 18.1379-1, and 18.1379-2 are effective with respect to taxable years 
beginning after 1982, and the temporary regulations provided under 
Sec. 18.1378-1 are effective with respect to elections made after 
October 19, 1982.
Cynthia E. Grigsby,
Chief, Regulations Unit, Assistant Chief Counsel (Corporate).
[FR Doc. 95-7970 Filed 3-30-95; 8:45 am]
BILLING CODE 4830-01-P