Rules and Regulations. Final regulations; correction

Agency: Internal Revenue Service (IRS), Treasury
Action: Final regulations; correction
Citation: FR Doc. 2016-09698 · RIN 1545-BN59 · TD 9750 · 26 CFR 1

Summary

This document contains corrections to final regulations (TD 9750) that published in the Federal Register on Thursday, February 18, 2016 (81 FR 8149). The final regulations relates to information reporting by brokers for transactions involving debt instruments and options, including the reporting of original issue discount (OID) on tax-exempt obligations, the treatment of certain holder elections for reporting a taxpayer's adjusted basis in a debt instrument, and transfer reporting for section 1256 options and debt instruments.

Dates

This correction is effective April 27, 2016 and applicable February 18, 2016.

Supplementary Information

Background The final regulation (TD 9750) that is the subject of this correction is under section 6045 of the Internal Revenue Code. Need for Correction As published, the final regulation (TD 9750) contains errors that may prove to be misleading and are in need of clarification. Correction of Publication Accordingly, the final regulation (TD 9750), that is the subject of FR Doc. 2016-03429, is corrected as follows: 1. On page 8151, in the preamble, third column, third line from the bottom of the first full paragraph, “OID and acquisition discount on all tax-” is corrected to read “OID and acquisition premium on all tax-”. 2. On page 8151, in the preamble, third column, third line from the bottom of the last full paragraph, “discount for a tax-exempt obligation that” is corrected to read “premium for a tax-exempt obligation that”. Martin V. Franks, Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration). [FR Doc. 2016-09698 Filed 4-26-16; 8:45 am]