70 FR 44 pg. 11121 - Prohibited Allocations of Securities in an S Corporation; Correction
Type: RULEVolume: 70Number: 44Page: 11121
Docket number: [TD 9164]
FR document: [FR Doc. 05-4506 Filed 3-7-05; 8:45 am]
Agency: Treasury Department
Sub Agency: Internal Revenue Service
Official PDF Version: PDF Version
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[TD 9164]
RIN 1545-BC33
Prohibited Allocations of Securities in an S Corporation; Correction
AGENCY:
Internal Revenue Service (IRS), Treasury.
ACTION:
Correcting amendment.
SUMMARY:
This document corrects temporary regulations (TD 9164) that were published in the Federal Register on Friday, December 17, 2004 (69 FR 75455) concerning requirements for employee stock ownership plans (ESOPs) holding stock of Subchapter S corporations.
DATES:
This document is effective on December 17, 2004.
FOR FURTHER INFORMATION CONTACT:
John T. Ricotta, (202) 622-6060 (not a toll-free number).
SUPPLEMENTARY INFORMATION:
Background
The temporary regulations (TD 9164) that is the subject of this correction are under section 409(p).
Need for Correction
As published, the temporary regulations (TD 9164) contain errors that may prove to be misleading and are in need of clarification.
List of Subjects in 26 CFR Parts 1
Income Taxes, Reporting and recordkeeping requirements.
Correction of Publication
Accordingly, 26 CFR part 1 is corrected by making the following correcting amendment:
PART 1-INCOME TAXES
Paragraph 1. The authority citation for part 1 and continues to read in part as follows:
Authority:
26 U.S.C. 7805 * * *.
§ 1.409(p)-1T [Corrected]
Section 1.409(p)-1T(d)(2)(iv), is removed.
Cynthia E. Grigsby,
Acting Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedures and Administration).
[FR Doc. 05-4506 Filed 3-7-05; 8:45 am]
BILLING CODE 4830-01-P