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IRS Corrects Error in Final Regs That Remove De Minimis Partner Rule

JAN. 16, 2013

T.D. 9607; 78 F.R. 3325

DATED JAN. 16, 2013
DOCUMENT ATTRIBUTES
  • Institutional Authors
    Internal Revenue Service
  • Cross-Reference
    T.D. 9607 2012 TNT 247-17: IRS Final Regulations.
  • Code Sections
  • Subject Area/Tax Topics
  • Jurisdictions
  • Language
    English
  • Tax Analysts Document Number
    Doc 2013-947
  • Tax Analysts Electronic Citation
    2013 TNT 11-8
Citations: T.D. 9607; 78 F.R. 3325

 

[4830-01-P]

 

 

DEPARTMENT OF THE TREASURY

 

Internal Revenue Service

 

26 CFR Part 1

 

 

Treasury Decision 9607

 

 

RIN 1545-BJ37

 

 

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to final regulations.

SUMMARY: This document corrects final regulations (TD 9607) that was published in the Federal Register on Friday, December 28, 2012 (77 FR 76380) regarding the application of the substantiality de minimis rule. In the interest of sound tax administration, this rule is being made inapplicable. These final regulations affect partnerships and their partners.

DATES: This correction is effective on January 16, 2013, and is applicable on December 28, 2012.

FOR FURTHER INFORMATION CONTACT: Rebecca Kahane (202) 622-3050 (not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

The notice of final regulations (TD 9607) that is the subject of this correction is under section 704 of the Internal Revenue Code.

Need for Correction

As published, TD 9607 contains an error that may prove to be misleading and is in need of clarification.

Correction of Publication

Accordingly, the publication of the correction to final regulations (TD 9607), which was the subject of FR. Doc. 2012-31155, is corrected as follows:

 

1. On page 76380, column 1, in the preamble, under the caption "FOR FURTHER INFORMATION CONTACT:", first line, the language "Rebecca Kahanel, at (202) 622-3050 (not", is corrected to read "Rebecca Kahane, at (202) 622-3050 (not".
LaNita Van Dyke

 

Chief, Publications and

 

Regulations Branch

 

Legal Processing Division

 

Associate Chief Counsel

 

(Procedure and Administration)

 

[FR Doc. 2013-00748 Filed 01/15/2013 at 8:45 am; Publication Date: 01/16/2013]
DOCUMENT ATTRIBUTES
  • Institutional Authors
    Internal Revenue Service
  • Cross-Reference
    T.D. 9607 2012 TNT 247-17: IRS Final Regulations.
  • Code Sections
  • Subject Area/Tax Topics
  • Jurisdictions
  • Language
    English
  • Tax Analysts Document Number
    Doc 2013-947
  • Tax Analysts Electronic Citation
    2013 TNT 11-8
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