Income taxes: Capital asset exclusion for accounts and notes receivable Correction,
[Federal Register: August 24, 2006 (Volume 71, Number 164)]
[Proposed Rules]
[Page 50007]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr24au06-16]
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[REG-109367-06]
RIN 1545-BF52
Section 1221(a)(4) Capital Asset Exclusion for Accounts and Notes Receivable
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Correction notice.
SUMMARY: This document corrects a notice of proposed rulemaking (REG- 109367-06) that was published in the Federal Register on Monday, August 7, 2006 (71 FR 44600) clarifying the circumstances in which accounts or notes receivable are ``acquired * * * for services rendered'' within the meaning of section 1221(a)(4) of the Internal Revenue Code.
FOR FURTHER INFORMATION CONTACT: K. Scott Brown (202) 622-7454 (not a toll-free number).
SUPPLEMENTARY INFORMATION:
Background
The notice of proposed rulemaking (REG-109367-06) that is the subject of this correction is under section 1221 of the Internal Revenue Code.
Need for Correction
As published, REG-109367-06 contains an error that may prove to be misleading and is in need of clarification.
Correction of Publication
Accordingly, the publication of the proposed regulations (REG- 109367-06) which was the subject of FR Doc. E6-12789, is corrected as follows:
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On page 44600, column 1, in the preamble, under the caption FOR FURTHER INFORMATION CONTACT, line 2, the language ``Scott Brown (202) 622-3920 (not a toll-'' is corrected to read ``Scott Brown (202) 622- 7454 (not a toll-''.
Guy Traynor, Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration). [FR Doc. E6-14003 Filed 8-23-06; 8:45 am]
BILLING CODE 4830-01-P
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