[Federal Register: March 3, 1999 (Volume 64, Number 41)] [Proposed Rules] [Page 10262] From the Federal Register Online via GPO Access [wais.access.gpo.gov] [DOCID:fr03mr99-22] ======================================================================= ----------------------------------------------------------------------- DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 1 [REG-104072-97] RIN 1545-AV07 Recharacterizing Financing Arrangements Involving Fast-Pay Stock; Correction AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Correction to notice of proposed rulemaking. ----------------------------------------------------------------------- SUMMARY: This document contains a correction to REG-104072-97, which was published in the Federal Register on Wednesday, January 6, 1999 (64 FR 805), relating to financing arrangements involving fast-pay stock. FOR FURTHER INFORMATION CONTACT: Jonathan Zelnik, (202) 622-3940 (not a toll-free number). SUPPLEMENTARY INFORMATION: Background The notice of proposed rulemaking that is the subject of this correction is under section 7701 of the Internal Revenue Code. Need for Correction As published, REG-104072-97 contains errors which may prove to be misleading and are in need of clarification. Correction of Publication Accordingly, the publication of the notice of proposed rulemaking (REG-104072-97), which is the subject of FR Doc. 99-178, is corrected as follows: Sec. 1.1441-7 [Corrected] 1. On page 810, column 1, Sec. 1.1441-7(g)(4) Example 2, line 4, the language ``that A entered the arrangement with a'' is corrected to read ``that A entered into the arrangement with a''. Sec. 1.7701(l)-3 [Corrected] 2. On page 810, column 3, Sec. 1.7701(l)-3(c)(3)(iv)(A), line 3, the language ``attributable to financing instruments)'' is corrected to read ``attributable to the financing instruments)''. 3. On page 811, column 3, Sec. 1.7701(l)-3(e) Example 5, (i), line 3 from the bottom of the paragraph, the language ``Y's 1996 deduction attributable to financing'' is corrected to read ``Y's 1996 deduction attributable to the financing''. Cynthia E. Grigsby, Chief, Regulations Unit, Assistant Chief Counsel (Corporate). [FR Doc. 99-5128 Filed 3-2-99; 8:45 am] BILLING CODE 4830-01-U