Arbitrage Guidance for Tax-Exempt Bonds; Correction
Federal Register, Volume 81 Issue 163 (Tuesday, August 23, 2016)
Federal Register Volume 81, Number 163 (Tuesday, August 23, 2016)
Rules and Regulations
Pages 57458-57459
From the Federal Register Online via the Government Publishing Office www.gpo.gov
FR Doc No: 2016-20087
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
TD 9777
RIN 1545-BG41; RIN 1545-BH38
Arbitrage Guidance for Tax-Exempt Bonds; Correction
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Correcting amendment.
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SUMMARY: This document contains corrections to final regulations (TD 9777) that were published in the Federal Register on Monday, July 18, 2016 (81 FR 46582). The final regulations relate to the arbitrage restrictions under section 148 of the Internal Revenue Code applicable to tax-exempt bonds and other tax-advantaged bonds issued by State and local governments.
DATES: This correction is effective August 23, 2016 and applicable July 18, 2016.
FOR FURTHER INFORMATION CONTACT: Spence Hanemann at (202) 317-6980 (not a toll-free number).
SUPPLEMENTARY INFORMATION:
Background
The final regulations (TD 9777) that are the subject of this correction are under section 148 of the Internal Revenue Code.
Page 57459
Need for Correction
As published, the final regulation (TD 9777) contains errors that may prove to be misleading and are in need of clarification.
List of Subjects in 26 CFR Part 1
Income taxes, Reporting and recordkeeping requirements.
Correction of Publication
Accordingly, 26 CFR part 1 is amended by making the following correcting amendment:
PART 1--INCOME TAXES
0
Paragraph 1. The authority citation for part 1 continues to read in part as follows:
Authority: 26 U.S.C. 7805 * * *
Section 1.148-11 Amended
0
Par. 2. Section 1.148-11 is amended by removing ``October 17, 2016'' at end of paragraphs (l)(2) and (l)(3) and adding ``July 18, 2016'' in its place.
Martin V. Franks
Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel, (Procedure and Administration).
FR Doc. 2016-20087 Filed 8-22-16; 8:45 am
BILLING CODE 4830-01-P
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