Amortization of Intangible Property; Correction (IRS final

Official source: Federal Register (GovInfo) (https://www.govinfo.gov/content/pkg/FR-2000-03-28/pdf/00-5246.pdf), retrieved 2026-10-03. U.S. Government work (17 U.S.C. § 105).

16318 Federal Register / Vol. 65, No. 60 / Tuesday, March 28, 2000 / Rules and Regulations

FOR FURTHER INFORMATION CONTACT: Jeanne M. Sullivan at (202) 622–3050 (not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

The final regulations that are subject to these corrections are under sections 1361, 1362, and 1374 of the Internal Revenue Code.

Need for Correction

As published, the final regulations (TD 8869) contain errors that may prove to be misleading and are in need of clarification.

Correction of Publication

Accordingly, the publication of the final regulations (TD 8869), which wer the subject of FR Doc. 00–1718, is corrected as follows:

On page 3845, column 1, under the caption ‘‘Explanation of Provisions’’, line 14 from the top of the column, the language, ‘‘2 I.R.B.1, which provides that the’’ is corrected to read ‘‘2 I.R.B. 288, which provides that the’’.

§ 1.1361–4 [Corrected]

On page 3852, column 2, § 1.1361– 4(d) Example 3, line 15, the language, ‘‘2000, the day after the acquisition date’’ is corrected to read ‘‘2002, the day after the acquisition date’’.

§ 1.1361–5 [Corrected]

On page 3853, column 1, § 1.1361– 5(b)(1)(i), line 9, the language, ‘‘corporation. he tax treatment of this’’ is corrected to read ‘‘corporation. The tax treatment of this’’.

§ 1.1362–8 [Corrected]

On page 3855, column 3, § 1.1362– 8(d) Example 2(ii), line 1, the language, ‘‘(ii) Four-fifths ($12,000/15,000) of the’’ is corrected to read ‘‘(ii) Four-fifths ($12,000/$15,000) of the’’.
On page 3855, column 3, § 1.1362– 8(d) Example 2(ii), line 13, the language, ‘‘Under these facts, $41 ($920/1,900 of’’ is corrected to read ‘‘ Under these facts, $41 ($920/$1,900 of’’.

Dale D. Goode, Federal Register Liaison, Assistant Chief Counsel (Corporate).

[FR Doc. 00–5242 Filed 3–27–00; 8:45 am]

BILLING CODE 4830–01–U

DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 8865]

RIN 1545–AS77

Amortization of Intangible Property; Correction

AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Correction of final regulations.

SUMMARY: This document contains corrections to final regulations which were published in the Federal Register on Tuesday, January 25, 2000 (65 FR 3820), relating to the amortization of certain intangible property. DATES: This correction is effective January 25, 2000. FOR FURTHER INFORMATION CONTACT: John Huffman at (202) 622–3110 (not a tollfree number).

SUPPLEMENTARY INFORMATION:

Background

The final regulations that are subject to these corrections are under sections 167 and 197 of the Internal Revenue Code.

Need for Correction

As published, the final regulations (TD 8865) contain errors that may prove to be misleading and are in need of clarification.

Correction of Publication

Accordingly, the publication of the final regulations (TD 8865), which were the subject of FR Doc. 00–1380, is corrected as follows:

§ 1.197–2 [Corrected]

On page 3834, column 3, § 1.197– 2(g)(3), line 22, the language, ‘‘increase. The provisions of paragraph’’ is corrected to read ‘‘increase, except as provided in § 1.743–1(j)(f)(i)(B)( 2 ). The provisions of paragraph’’.
On page 3834, column 3, § 1.197– 2(g)(4)(i), lines 10 through 13, the language, ‘‘either the curative or remedial allocation methods described in the regulations under section 704(c). See § 1.704–3(c) and (d)’’ is corrected to read ‘‘any of the permissible methods described in the regulations under section 704(c). See § 1.704–3’’.
On page 3834, column 1, § 1.197– 2(g)(4)(ii), line 6, the language, ‘‘the intangible is not amortizable by the’’ is corrected to read ‘‘the intangible is not amortizable under section 197 by the ’’.
On page 3839, column 3, § 1.197– 2(k) Example 6 (i), third line from the top of the column, the language

‘‘consideration paid for all assets acquired in’’ is corrected to read ‘‘consideration paid excluding any amount treated as interest or original issue discount under applicable provisions of the Internal Revenue Code, for all assets acquired in’’.

On page 3839, column 3, § 1.197– 2(k) Example 6 (ii), lines 15 through 18, the language, ‘‘Although the payments under the agreement ($270,000) exceed the amount allocated to the covenant by $45,000, all of the remaining consideration ($50,000) is allocated to Class’’ is corrected to read ‘‘All of the remaining consideration after allocation to the covenant and other Class VI assets, ($50,000) is allocated to Class’’.
On page 3839, column 3, § 1.197– 2(k) Example 7 (ii), line 7, the language, ‘‘amecause it does not have a term of less than’’ is corrected to read ‘‘amount because it does not have a term of less than’’.
On page 3843, column 1, § 1.197– 2(k) Example 27 (i), lines 3 and 4, the language, ‘‘which A owns a 60-percent, and B owns a 40-percent, interest in profits and capital. A’’ is corrected to read ‘‘which A owns a 40-percent, and B owns a 60-percent, interest in profits and capital. A’’.
On page 3843, column 2, § 1.197– 2(l)(4)(iii), line 14, the language, ‘‘before a federal court, the taxpayer must’’ is corrected to read ‘‘before a Federal court, the taxpayer must’’.

Dale D. Goode, Federal Register Liaison, Assistant Chief Counsel (Corporate).

[FR Doc. 00–5246 Filed 3–27–00; 8:45 am]

BILLING CODE 4830–01–U

DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 8852]

RIN 1545–AT52

Passthrough of Items of an S Corporation to Its Shareholders; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction of Correction to final regulations.

SUMMARY: This document contains a correction to a correction to final regulations which was published in the Federal Register on Thursday, March 9, 2000 (65 FR 12471), relating to the passthrough of items of an S corporation to its shareholders, the adjustments to the basis of stock of the shareholders,

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