Internal Revenue Bulletin: 2003-51
December 22, 2003
Limitation on Use of the Nonaccrual-Experience Method of Accounting Under Section 448(d)(5); Correction
Table of Contents
This document contains corrections to temporary regulations (T.D. 9090, 2003-43 I.R.B. 891 [68 FR 52496]) that were published in the Federal Register on September 4, 2003, that revises temporary income tax regulations providing guidance regarding the use of a nonaccrual-experience method of accounting by taxpayers using an accrual method of accounting and performing services.
These temporary regulations that are the subject of these corrections are under section 448 of the Internal Revenue Code.
As published, this temporary regulation (T.D. 9090) contain errors that may prove to be misleading and are in need of clarification.
Accordingly, the publication of temporary regulations (T.D. 9090), which were the subject of FR Doc. 03-22458, is corrected as follows:
1. On page 52502, column 3, § 1.448-2T(e)(6)(iv), second to last line of the paragraph, the language “self-test), as applicable, of this section” is corrected to read “self test, as applicable,”.
2. On page 52503, column 1, § 1.448-2T(e)(6)(vii), in the paragraph heading, the language “Recapture—(1) In general.” is corrected to read “Recapture.”
Acting Chief, Publications and Regulations Branch,
Legal Processing Division,
Associate Chief Counsel
(Procedure and Administration).
(Filed by the Office of the Federal Register on November 4, 2003, 8:45 a.m., and published in the issue of the Federal Register for November 5, 2003, 68 F.R. 62516)
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