Internal Revenue Bulletin: 2008-52
December 29, 2008
Table of Contents
This document contains a correction to final and temporary regulations (T.D. 9430, 2008-48 I.R.B. 1205) that were published in the Federal Register on Monday, November 10, 2008 (73 FR 66539) relating to information returns for cancellation of indebtedness by certain entities. The temporary regulations will avoid premature information reporting from certain businesses that are currently required to report and will reduce the number of information returns required to be filed. The temporary regulations will impact certain lenders who are currently required to file information returns under the existing regulations.
This correction is effective December 11, 2008, and is applicable on November 10, 2008.
The final and temporary regulations that are the subject of this document are under section 6050P of the Internal Revenue Code.
As published, final and temporary regulations (T.D. 9430) contains an error that may prove to be misleading and is in need of clarification.
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Paragraph 1. The authority citation for part 1 continues to read, in part, as follows:
Authority: 26 U.S.C. 7805 * * *
Par. 2. Section 1.6050P-1T is amended by revising an entry for (a) through (b)(2)(i)(G) [Reserved] as follows:
(a) through (b)(2)(i)(G) [Reserved]. For further guidance, see § 1.6050P-1(a) through (b)(2)(i)(G).
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LaNita Van Dyke,
Chief, Publications and Regulations Branch,
Legal Processing Division,
Associate Chief Counsel
(Procedure and Administration).
(Filed by the Office of the Federal Register on December 10, 2008, 8:45 a.m., and published in the issue of the Federal Register for December 11, 2008, 73 F.R. 75326)
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