This document withdraws proposed regulations relating to an election available to certain taxpayers under section 367(b). The withdrawal corresponds to the upcoming expiration of the availability of the election.

DEPARTMENT OF THE TREASURY : Internal Revenue Service

This document contains a correction to temporary and final regulations that were published in the Federal Register on January 4, 2001 (66 FR 723). This document relates to the assumption of liabilities in certain corporate transactions under section 301 of the Internal Revenue Code.

DEPARTMENT OF THE TREASURY : Internal Revenue Service

This document contains corrections to proposed regulations that were published in the Federal Register on January 18, 2001 (66 FR 4746). The regulations clarify the application of the straddle rules to a variety of financial instruments.

DEPARTMENT OF THE TREASURY : Internal Revenue Service

This document contains corrections to final regulations that were published in the Federal Register on Tuesday, June 19, 2001 (66 FR 32897) relating to the minimum cost requirement under section 420, which permits the transfer of excess assets of a defined benefit pension plan to a retiree health account.

DEPARTMENT OF THE TREASURY : Internal Revenue Service

This document contains final regulations under section 679 of the Internal Revenue Code relating to transfers of property by U.S. persons to foreign trusts having one or more United States beneficiaries. The final regulations affect United States persons who transfer property to foreign trusts.

DEPARTMENT OF THE TREASURY : Internal Revenue Service

Correction

In rule document 01258 beginning on page 1837 in the issue of Wednesday, January 10, 2001, make the following correction:

On page 1838, in the first column, in footnote 5, in the second line, ``groupitem life'' should read ``groupterm''.
[FR Doc. C1258 Filed 3501;

DEPARTMENT OF THE TREASURY : Internal Revenue Service

This document contains final regulations on the tax consequences of partnership mergers and divisions. The final regulations affect partnerships and their partners.

DEPARTMENT OF THE TREASURY : Internal Revenue Service

This document contains proposed regulations relating to the computation of the research credit under section 41(c) and the definition of qualified research under section 41(d). In addition, this document contains proposed regulations describing when computer software that is developed by (or for the benefit of) a taxpayer primarily for the

DEPARTMENT OF THE TREASURY : Internal Revenue Service

This document contains corrections to a notice of proposed rulemaking and notice of public hearing that was published in the Federal Register on Wednesday, January 3, 2001 (66 FR 319), relating to the application of section 904 to income subject to separate limitations and computation of deemedpaid credit under section 902.

DEPARTMENT OF THE TREASURY : Internal Revenue Service

This document contains final regulations relating to the federal income tax treatment of debt instruments issued in certain reopenings. The final regulations provide guidance to holders and issuers of these debt instruments .

DEPARTMENT OF THE TREASURY : Internal Revenue Service

This document contains proposed regulations concerning a mid- contract change in taxpayer of a contract that has been accounted for under a longterm contract method of accounting. A taxpayer that is a party to such a contract will be affected by these proposed regulations. This document also provides notice of a public hearing on the proposed

DEPARTMENT OF THE TREASURY : Internal Revenue Service

This document contains corrections to final regulations (TD 8929) which were published in the Federal Register on Thursday, January 11, 2001 (66 FR 2219). The final regulations provide guidance on methods of accounting for longterm contracts.

DEPARTMENT OF THE TREASURY : Internal Revenue Service

This document contains temporary regulations relating to recognition of gain on certain distributions of stock or securities of a controlled corporation in connection with an acquisition. Changes to the applicable law were made by the Taxpayer Relief Act of 1997. These temporary regulations affect corporations and are necessary to provide them

DEPARTMENT OF THE TREASURY : Internal Revenue Service

This document withdraws the notice of proposed rulemaking requiring that a historic absorption ratio used with either the simplified production or simplified resale methods be recalculated when the ratio becomes materially inaccurate that was published in the Federal Register on May 24, 1999. The withdrawal is in response to written comments

DEPARTMENT OF THE TREASURY : Internal Revenue Service

This document contains final regulations and amendments to temporary regulations that provide guidance to taxpayers that have made an election to be treated as a foreign sales corporation (FSC). These regulations permit the grouping of transactions for purposes of applying the administrative pricing (including marginal costing) rules to determine

DEPARTMENT OF THE TREASURY : Internal Revenue Service

This document contains temporary regulations relating to the filing of an application for a tentative carryback adjustment. These temporary regulations provide guidance to determine the time for filing such application by a consolidated group. This document also contains temporary regulations relating to the filing of an application for a

DEPARTMENT OF THE TREASURY : Internal Revenue Service

In the Rules and Regulations section of this issue of the Federal Register, the IRS is issuing temporary regulations relating to the new markets tax credit. The text of those regulations also serves as the text of these proposed regulations. This document also provides notice of a public hearing on these proposed regulations.

DEPARTMENT OF THE TREASURY : Internal Revenue Service

This document contains corrections to REG-126100-00, which was published in the Federal Register on Wednesday, January 17, 2001 (66 FR 3925). These regulations provide guidance on the reporting requirements for interest on deposits maintained at the U.S. office of certain financial institutions and paid to nonresident alien individuals.

DEPARTMENT OF THE TREASURY : Internal Revenue Service

This document contains proposed regulations relating to the federal income tax treatment of annuity contracts issued by certain insurance companies. These proposed regulations provide guidance on whether certain annuity contracts are excluded from the definition of a debt instrument under the original issue discount provisions of the Internal

DEPARTMENT OF THE TREASURY : Internal Revenue Service

This document withdraws a notice of proposed rulemaking relating to certain corporate reorganizations involving disregarded entities. The proposed regulations were published on May 16, 2000, and a public hearing on the regulations was held on August 8, 2000. In addition, written comments were received. After consideration of the comments received,

DEPARTMENT OF THE TREASURY : Internal Revenue Service

This document contains corrections to final regulations that were published in the Federal Register on Thursday, January 11, 2001 (66 FR 2241), that ensure that transportation benefits provided to employees are excludable from gross income.

DEPARTMENT OF THE TREASURY : Internal Revenue Service

This document contains proposed regulations under section 1041 of the Internal Revenue Code relating to the tax treatment of certain redemptions, during marriage or incident to divorce, of stock owned by a spouse or former spouse. This document also provides notice of a public hearing on the proposed regulations.

DEPARTMENT OF THE TREASURY : Internal Revenue Service

This document contains final regulations that permit certain defined contribution retirement plans to demonstrate compliance with the nondiscrimination requirements based on plan benefits rather than contributions. Under the final regulations, a defined contribution plan can test on a benefits basis if it provides broadly available allocation

DEPARTMENT OF THE TREASURY : Internal Revenue Service

This document contains a correction to final and temporary regulations, TD 8941, which were published in the Federal Register on Thursday, January 18, 2001 (66 FR 4661). These regulations provide guidance to issuers of taxexempt bonds for output facilities.

DEPARTMENT OF THE TREASURY : Internal Revenue Service

In the Rules and Regulations portion of this issue of the Federal Register, the IRS is issuing temporary regulations relating to the assumption of liabilities in certain corporate transactions under section 301 of the Internal Revenue Code. The temporary regulations affect corporations and their shareholders. The text of those temporary

DEPARTMENT OF THE TREASURY : Internal Revenue Service