Part IV. Items of General Interest

Golden Parachute Payments; Correction

Announcement 2003–60

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to final regulations.

SUMMARY: This document contains corrections to final regulations (T.D. 9083, 2003–40 I. R.B. 700) that were published in the Federal Register on Monday, August 4, 2003 (68 FR 45745), relating to golden parachute payments under section 280G of the Internal Revenue Code.

EFFECTIVE DATE: This correction is effective August 4, 2003.

FOR FURTHER INFORMATION CONTACT: Erinn Madden (202) 622–6030 (not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

The final regulations that are the subject of these corrections are under section 280G of the Internal Revenue Code.

Need for Correction

As published, the final regulations (T.D. 9083) 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. 9083), which are the subject of FR Doc. 03–19274, is corrected as follows:

1. On page 45745, column 3, in the preamble, the caption “DATES” is corrected to read as follows:

DATES: Effective Date : August 4, 2003. Applicability Date : These regulations apply to any payment that is contingent on a change in ownership or control if the change in ownership or control occurs on or after January 1, 2004. However, taxpayers may rely on these regulations after August 4, 2003, for the treatment of any parachute payment.

2. On page 45750, column 1, in the preamble under the paragraph heading “ Ef- fective Date and Reliance ”, paragraph 1, line 5, the language “on or after January 1, 2004.” is corrected to read “on or after January 1, 2004. However, taxpayers may rely on these regulations after August 4, 2003, for the treatment of any parachute payment.”.

3. On page 45750, columns 1 and 2, in the preamble under the paragraph heading “ Effective Date and Reliance ”, the last line in the column 1 and first line in column 2, the language “2002 proposed regulations until the effective date of the final regulations.” is corrected to read “2002 proposed regulations until January 1, 2004.”.

§ 1.280G–1 [Corrected]

4. On page 45755, column 2, § 1.280G–1, paragraph (a) of A–11, line 3, the language “to receive cash, or a transfer of property” is corrected to read “to receive cash (including the value of accelerated vesting under Q/4–24(c)), or a transfer of property.”.

5. On page 45772, column 2, § 1.280G–1, A–48, line 5, the language “on or after January 1, 2004.” is corrected to read “on or after January 1, 2004. Taxpayers may rely on these regulations after August 4, 2003, for the treatment of any parachute payment.”.

Cynthia E. Grigsby, Acting Chief, Publications and

Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedures

and Administration).

(Filed by the Office of the Federal Register on October 10, 2003, 8:45 a.m., and published in the issue of the Federal Register for October 14, 2003, 68 F.R. 59114)

IRS and The George Washington University Law School To Sponsor Institute on International Tax Issues

Announcement 2003–66

The Internal Revenue Service announces the Sixteenth Annual Institute

on Current Issues in International Taxation, jointly sponsored by the Internal Revenue Service and The George Washington University Law School, to be held on December 11 and 12, 2003, at the J.W. Marriott Hotel in Washington, DC. Registration is currently underway for the Institute, which is intended for international tax professionals.

The program will present a unique opportunity for top IRS and Treasury officials and tax experts, and leading private sector specialists, to address breaking issues and present key perspectives on new developments. The first day will feature sessions on the following:

(with the Competent Authorities of France, Japan, Korea, and the United States;

The Honorable Pamela F. Olson, Assistant Secretary (Tax Policy), U.S. Department of the Treasury, will deliver the luncheon address. The day will begin with an address by the Honorable George Yin, Chief of Staff, Joint Committee on Taxation.

The second day will focus on the following topics:

ternational Transactions.

Emily Parker, Acting Chief Counsel, Internal Revenue Service will deliver the luncheon address. The second day will also include an “Ask the IRS” panel featuring senior officials from the Service.

2003-45 I.R.B. 1049 November 10, 2003

The period for renewal of enrollment will last at least 60 calendar days, but no more than 90 calendar days.

Affected enrolled agents should not file an application for renewal of enrollment before the period for renewal of enrollment is announced in the Internal Revenue Bulletin and on the Office of Professional Responsibility webpage. This delay will not impact an affected enrolled agent’s current status as an enrolled agent in good standing. This delay will not affect the number of hours of continuing professional education required for renewal or the time period within which these hours must be completed.

The principal author of this announcement is Heather L. Dostaler of the Office of Associate Chief Counsel (Procedure and Administration). For further information regarding this announcement, contact Heather L. Dostaler at (202) 622–4940 (not a toll-free call).

Those interested in attending or obtaining more information should contact The George Washington University Law School, at http://www.law.gwu.edu/ciit .

Delay of Rolling Renewal Schedule for Enrolled Agents Under Section 10.6(d)(1) of Treasury Department Circular No. 230, 31 CFR part 10

Announcement 2003–68

The Internal Revenue Service announces a delay of the implementation of the new rolling renewal schedule for enrolled agents to renew their enrollment under section 10.6(d)(1) of the Regulations Governing Practice Before the Internal Revenue Service, Treasury Department Circular No. 230, 31 CFR part 10. Under Treasury Department Circular No. 230, amended July 26, 2002, approximately one-third of all enrolled agents

will renew their enrollment each year according to a rolling renewal schedule for enrollment. Except for those individuals who receive their initial enrollment after November 1, 2003, individuals licensed to practice before the Internal Revenue Service who have a social security number or tax identification number that ends with the numbers 0, 1, 2, or 3 (affected enrolled agents) are scheduled to apply for enrollment between November 1, 2003, and January 31, 2004.

To ensure an orderly transition to rolling renewals, the implementation of the new renewal of enrollment schedule for affected enrolled agents will be delayed until the 2004 calendar year. The Internal Revenue Service will publish the schedule for affected enrolled agents to apply for renewal of enrollment in the Internal Revenue Bulletin and on the Office of Professional Responsibility webpage at http://www.irs.gov/taxpros/agents/index .html at least 30 calendar days prior to the beginning of the period for renewal of enrollment and no later than June 1, 2004.

November 10, 2003 1050 2003-45 I.R.B.