Internal Revenue Bulletin: 2003-51
December 22, 2003
Guidance Regarding the Treatment of Certain Contingent Payment Debt Instruments With One or More Payments That Are Denominated in, or Determined by Reference to, a Nonfunctional Currency; Correction
Table of Contents
Correction to notice of proposed rulemaking; notice of public hearing; and withdrawal of previous proposed regulations section.
This document contains corrections to proposed regulations (REG-106486-98; INTL-0015-91, 2003-42 I.R.B. 853 [68 FR 51944]) that were published in the Federal Register on August 29, 2003, regarding the treatment of contingent payment debt instruments for which one or more payments are denominated in, or determined by reference to, a currency other than the taxpayer’s functional currency.
The proposed regulations that are the subject of these corrections are under Section 1275 of the Internal Revenue Code.
As published, the notice of proposed rulemaking; notice of public hearing; and withdrawal of previous proposed regulations (REG-106486-98; INTL-0015-91), contains errors that may prove to be misleading and are in need of clarification.
Accordingly, the publication of the notice of proposed rulemaking, notice of public hearing; and withdrawal of previous proposed regulation (REG-106486-98; INTL-0015-91), which was the subject of FR Doc. 03-21827, is corrected as follows:
On page 51944, column 2, in the preamble under the subject heading “FOR FURTHER INFORMATION CONTACT”, line 2, the language “Milton Cahn at (202) 622-3870;” is corrected to read “Milton Cahn at (202) 622-3860;”.
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 26, 2003, 8:45 a.m., and published in the issue of the Federal Register for November 28, 2003, 68 F.R. 66776)
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