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CFR Citation: 26 CFR Part 1

TD ID: [TD 9330]

RIN ID: RIN 1545-BG66

NOTICE: RULES

ACTION: Income taxes:

DOCUMENT ACTION: Correction to temporary regulations.

SUBJECT CATEGORY: Built-in Gains and Losses Under Section 382(h); Correction

DATES: This correction is effective August 1, 2007.

DOCUMENT SUMMARY: This document contains a correction to temporary regulations (TD 9330) that were published in the Federal Register on Thursday, June 14, 2007 (72 FR 32792) applying to corporations that have undergone ownership changes within the meaning of section 382. These regulations provide guidance regarding the treatment of prepaid income under the builtin gain provisions of section 382(h).

SUMMARY: Built-in gains and losses; Correction,

SUPPLEMENTAL INFORMATION

The correction notice that is the subject of this document is under section 382 of the Internal Revenue Code.

Need for Correction

As published, temporary regulations (TD 9330) contain an error that may prove to be misleading and is in need of clarification. Correction of Publication

Accordingly, the publication of the temporary regulations (TD 9330), which was the subject of FR Doc. E711438, is corrected as follows:

On page 32794, column 1, in the preamble, under the paragraph heading ``Special Analyses'', line 4, the language ``Executive Order 12666. Therefore, a'' is corrected to read ``Executive Order 12866. Therefore, a''.
LaNita Van Dyke,
Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration).
[FR Doc. E714802 Filed 73107; 8:45 am]
BILLING CODE 483001P

FOR FURTHER INFORMATION CONTACT Keith Stanley at (202) 622-7750 (not a tollfree number).