Proposed Rules. Correction to notice of proposed rulemaking

Agency: Internal Revenue Service (IRS), Treasury
Action: Correction to notice of proposed rulemaking
Citation: FR Doc. 2016-15696 · RIN 1545-BN07 · REG-133673-15 · 26 CFR 1

Summary

This document contains corrections to a notice of proposed rulemaking (REG-133673-15) that were published in the Federal Register on April 13, 2016 (81 FR 21795). The proposed regulations are in regards to deemed distributions of stock and rights to acquire stock. The proposed regulations would resolve ambiguities concerning the amount and timing of deemed distributions that are or result from adjustments to rights to acquire stock.

Dates

Written or electronic comments and requests for a public hearing for the notice of proposed rulemaking published at 81 FR 21795, April 13, 2016 are still being accepted and must be received by July 12, 2016.

Supplementary Information

Background The notice of proposed rulemaking (REG-133673-15) that is subject of this correction is under sections 305 and 1473 of the Internal Revenue Code. Need for Correction As published, the notice of proposed rulemaking (REG-133673-15) contains errors that may prove to be misleading and are in need of clarification. Correction to Publication Accordingly, the notice of proposed rulemaking (REG-133673-15) that was the subject of FR Doc. 2016-08248 is corrected as follows: § 1.305-3 [CORRECTED] 1. On page 21802, first column, fourth line from the bottom of Example 6, the language “accordance with § 1.305-7(c)(4)(ii) and the” is corrected to read “accordance with § 1.305-7(c)(4)(i) and the”. § 1.305-7 [CORRECTED] 2. On page 21803, third column, second line of Example 3.(ii), the language “§ 1.305-1(d)(5), the holders of the convertible” is corrected to read “§ 1.305-1(d)(4), the holders of the convertible”. § 1.1473-1 [CORRECTED] 3. On page 21807, third column, in paragraph (d)(7), fifth line from the bottom of the page, the language “beneficial owner or a flow through” is corrected to read “beneficial owner, or a flow through”. Martin V. Franks, Branch Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration). [FR Doc. 2016-15696 Filed 7-1-16; 8:45 am]