Part IV. Items — Internal Revenue Bulletin 2002-14

On page 66375, column 2, § 1.41–4, paragraph (c)(10), paragraph (1) of Example 7 . is correctly designated § 1.41–4, paragraph (c)(10), paragraph (i) of Example 7 .
On page 66375, column 2, § 1.41–4, paragraph (c)(10), paragraph (i) of Example 7., line 9, the language “purchases the existing robotic equipment for” is corrected to read “purchases existing robotic equipment for”.
On page 66375, column 3, § 1.41–4, paragraph (e), line 4, the language “December 26, 2002.” is corrected to read “December 26, 2001.”.

§ 1.41–8 [Corrected]

On page 66375, column 3, § 1.41–8, paragraph (b)(4), line 4, the language “December 26, 2002.” is corrected to read “December 26, 2001.”.

Cynthia E. Grigsby, Chief, Regulations Unit, Associate Chief Counsel (Income Tax and Accounting) .

(Filed by the Office of the Federal Register on March 18, 2002, 8:45 a.m., and published in the issue of the Federal Register for March 19, 2002, 67 F.R. 12494)

Excise Taxes on Excess Benefit Transactions; Correction

Announcement 2002–39

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to final regulations.

SUMMARY: This document contains corrections to final regulations (T.D. 8978, 2002–7 I.R.B. 500) that were published in the Federal Register on Wednesday, January 23, 2002 (67 FR 3076) relating to the excise taxes on excess benefit transactions.

DATES: This correction is effective January 23, 2002.

FOR FURTHER INFORMATION CONTACT: Phyllis D. Haney, (202) 622–4290 (not a toll-free number).

Credit for Increasing Research Activities; Correction

Announcement 2002–38

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to notice of proposed rulemaking and notice of public hearing.

SUMMARY: This document contains corrections to a notice of proposed rulemaking (REG–112991–01, 2002–4 I.R.B. 404) and notice of public hearing relating to the computation of the research credit.

This document was published in the Fed- eral Register on December 26, 2001 (66 FR 66362).

FOR FURTHER INFORMATION CONTACT: Lisa J. Shuman (202) 622– 3120 (not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

The proposed regulations that are the subject of these corrections are under sections 41(c) and and 41(d) of the Internal Revenue Code.

Need for Correction

As published, the proposed regulations REG–112991–01, contains errors that may prove to be misleading and are in need of clarification.

Correction of Publication

Accordingly, the publication of the proposed regulations REG–112991–01, which is the subject of FR. Doc. 01–31007, is corrected as follows:

§ 1.41–3 [Corrected]

On page 66368, column 1, § 1.41–3, paragraph (e), line 3, the language “ending on or after the date December 21” is corrected to read “ending on or after December 26”.

§ 1.41–4 [Corrected]

On page 66369, column 1, § 1.41–4, paragraph (a)(8), paragraph (i) of Example 2., line 3 from the bottom of paragraph, the language “tests the nozzles to ensure that to ensure that” is corrected to read “tests the nozzles to ensure that”.
On page 66369, column 1, § 1.41–4, paragraph (a)(8), paragraph (ii) of Example 2., line 2 the language “painting process is a separate business” is corrected to read “painting process relate to a separate business”.
On page 66369, column 3, § 1.41–4, paragraph (a)(8), paragraph (i) of Example 6., lines 5 through 8 from the bottom of the paragraph, the language “X conducts extensive and complex scientific or laboratory testing to determine if the current model vehicle meets X’s requirements.” is removed.
On page 66370, column 3, § 1.41–4, paragraph (c)(6), line 2 of the paragraph heading, the language “years beginning on or after the” is corrected to read “years beginning on or after”.
On page 66371, column 2, § 1.41–4, paragraph (c)(6)(iv)(C), line 1 of the column, the language “leased, licensed or otherwise marketed” is corrected to read “leased, licensed, or otherwise marketed”.
On page 66371, column 2, § 1.41–4, paragraph (c)(6)(vi)(C), line 2 from the bottom of the paragraph, the language “paragraphs (c)(6)(v)(A) and (B) of this” is corrected to read “paragraphs (c)(6)(vi)(A) and (B) of this”.
On page 66371, column 3, § 1.41–4, paragraph (c)(6)(viii), paragraph (i) of Example 2., line 3, the language “order to create an improved reserve valuation” is corrected to read “order to create the improved reserve valuation”.
On page 66372, column 3, § 1.41–4, paragraph (c)(6), paragraph (ii) of Example 7., line 1, the language “(ii) Conclusion . X’s software is software” is corrected to read “(ii) Conclusion . X’s software is”.
On page 66375, column 1, § 1.41–4, paragraph (c)(10), paragraph (i) of Example 6., line 1, the language “ Example 6 . (i) Facts . X manufacturer and” is corrected to read “ Example 6 . (i) Facts . X manufacturers and”.

2002–14 I.R.B. 738 April 8, 2002

Renewal of Enrolled Agent Status

Announcement 2002–41

Enrolled agent cards will expire on March 31, 2002. However, all cards for the upcoming three year cycle will not be mailed out by that date. Therefore, the Director of Practice has extended all current enrollment cards until April 30, 2002. Anyone not receiving their enrollment card by that date should call (313) 234– 1280 or e-mail the Enrolled Practitioner Unit at epp@irs.gov . Enrolled agents may continue to use their existing enrollment card until April 30, 2002.

Renewal of Sponsor Agreements for Enrolled Agent Continuing Professional Education

Announcement 2002–42

Sponsor agreements for sponsors of qualifying continuing professional education expire on March 31, 2002. The Director of Practice will not mail out their approval or disapproval of sponsor agreements for the upcoming three year cycle by that date. Therefore, the Director of Practice has extended all existing sponsor agreements through August 31, 2002. Sponsors will be notified by August 31, 2002, of their renewal status. Sponsors seeking renewal will continue to be approved until that date.

SUPPLEMENTARY INFORMATION:

Background

The final regulations that are the subject of these corrections are under section 4958 of the Internal Revenue Code.

Need for Correction

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

Correction of Publication

Accordingly, the publication of the final regulations (T.D. 8978), that were the subject of FR Doc. 02–985, is corrected as follows:

On page 3078, column 1, in the preamble under the paragraph heading “ Defi- nition of Applicable Tax-Exempt Organi- zation ”, line 6 from the top of the column, the language “to the efficient administration of the” is corrected to read “for the efficient administration of the”.
On page 3082, column 3, in the preamble under the paragraph heading “ Final Regulatory Flexibility Analysis ”, first paragraph, line 13, the language “REP. 104–506 at 56–7, March 28, 1996)” is corrected to read “REP. 506, 104th Congress, 2d SESS. (1996), 53, 56–7)”.
On page 3083, column 1, in the preamble under the paragraph heading “ Final Regulatory Flexibility Analysis ”, first full paragraph, line 1, the language

“The objective for the rebuttable” is corrected to read “The objective of the rebuttable”.

§ 53.4958–4 [Corrected]

On page 3091, column 3, § 53.4958–4(a)(3)(vii), Example 1, line 12, the language “T (see § 53.4958–3(a)). Under the initial” is corrected to read “T (see § 53.4958–3(c)(3)). Under the initial”.
On page 3095, column 2, § 53.4958–4(c)(4), Example 2, line 10, the language “D fails to report the bonus on his individual” is corrected to read “D fails to report the bonus on D’s individual”.

§ 301.7611–1 [Corrected]

On page 3099, column 2, in A–19, line 1, the language “A–19: See § 53.4958–7(b) of this” is corrected to read “A–19: See § 53.4958–8(b) of this”.

Cynthia E. Grigsby, Chief, Regulations Unit, Associate Chief Counsel (Income Tax and Accounting).

(Filed by the Office of the Federal Register on March 18, 2002, 8:45 a.m., and published in the issue of the Federal Register for March 19, 2002, 67 F.R. 12471)

April 8, 2002 739 2002–14 I.R.B.