Proposed Rules. Correction to proposed regulations

244 words·~1 min read·/register/2002/05/30/02-13171

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BILLING CODE 4910-13-P DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Parts 1 and 301 [REG-105316-98; REG-161424-01] RIN 1545-AW67; 1545-BA43 Information Reporting for Qualified Tuition and Related Expenses; Magnetic Media Filing Requirements for Information Returns; Correction AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Correction to proposed regulations. SUMMARY: This document contains a correction to proposed regulations (REG-105316-98; REG-161424-01) which were published in the **Federal Register** on Monday, April 29, 2002 (67 FR 20923).

The proposed regulations relate to the information reporting requirements under section 6050S for payments of interest on qualified education loans, including the filing of information returns on magnetic media. FOR FURTHER INFORMATION CONTACT: Guy R. Traynor, Regulations Unit,

(202)622-7180 (not a toll-free number). SUPPLEMENTARY INFORMATION: Background The proposed regulations that are subject to this correction are under section 6050 of the Internal Revenue Code. Need for Correction As published, these proposed regulations (REG-105316-98; REG-161424-01) contain an error that may prove to be misleading and is in need of clarification. Correction of Publication Accordingly, the publication of proposed regulations (REG-105316-98; REG-161424-01) which were the subject of FR Doc. 02-9932, is corrected as follows: § 1.6050S-1 [Corrected] 1. On page 20931, column 3, § 1.6050S-1(b)(2)(vii), *Example 4.* (iii), line 14, the language “2004. Under paragraph (b)(2)(v) of this” is corrected to read “2003. Under paragraph (b)(2)(v) of this''. Guy R. Traynor, Federal Register Certifying Officer, Regulations Unit, Associate Chief Counsel, (Income Tax & Accounting). [FR Doc. 02-13171 Filed 5-29-02; 8:45 am]