Proposed Rules. Correction to notice of proposed rulemaking

Agency: Internal Revenue Service (IRS), Treasury
Action: Correction to notice of proposed rulemaking
Citation: FR Doc. 04-19947 · RIN 1545-BC13 · REG-124405-03 · 26 CFR 1

Summary

This document contains corrections to a notice of proposed rulemaking that was published in the Federal Register on July 20, 2004 (69 FR 43367), that provides guidance on the time and manner of making an election under section 59(e) of the Internal Revenue Code.

Supplementary Information

Background The notice of proposed rulemaking (REG-124405-03) that is the subject of this correction is under section 59(e) of the Internal Revenue Code. Need for Correction As published, REG-124405-03 contains errors that may prove to be misleading and are in need of clarification. Correction of Publication Accordingly, the publication of the notice of proposed rulemaking (REG-124405-03), that was the subject of FR Doc. 04-16474, is corrected as follows: 1. On page 43368, column 2, in the preamble under the paragraph heading “ Explanation of Provisions ”, third paragraph, line 18, the language, “expenditures subject to the section 59(e)” is corrected to read “Expenditures subject to the section 59(e) election”. § 1.59-1 [Corrected] 2. On page 43369, column 1, § 1.59-1(b)(1), line 8, the language, “the section 59(e) begins. A taxpayer” is corrected to read “the section 59(e) election begins. A taxpayer”. 3. On page 43369, column 1 § 1.59-1(b)(1), line 19, the language, “section 59(e) begins. Additionally, the” is corrected to read “section 59(e) election begins. Additionally, the”. Cynthia E. Grigsby, Acting Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration). [FR Doc. 04-19947 Filed 8-31-04; 8:45 am]