Recharacterizing Financing Arrangements Involving Fast-Pay Stock; Correction

---
identifier: "/us/fr/00-5235"
source: "fr"
legal_status: "authoritative_unofficial"
title: "Recharacterizing Financing Arrangements Involving Fast-Pay Stock; Correction"
title_number: 0
title_name: "Federal Register"
section_number: "00-5235"
section_name: "Recharacterizing Financing Arrangements Involving Fast-Pay Stock; Correction"
positive_law: false
currency: "2000-03-28"
last_updated: "2000-03-28"
format_version: "1.1.0"
generator: "[email protected]"
agency: "Treasury Department"
document_number: "00-5235"
document_type: "rule"
publication_date: "2000-03-28"
agencies:
  - "Treasury Department"
  - "Internal Revenue Service"
cfr_references:
  - "26 CFR Part 1"
rin: "1545-AV07"
fr_citation: "65 FR 16316"
fr_volume: 65
docket_ids:
  - "TD 8853"
effective_date: "2000-01-10"
fr_action: "Correction to final regulations."
---


#  [Corrected]

**AGENCY:**

Internal Revenue Service (IRS), Treasury.

**ACTION:**

Correction to final regulations.

**SUMMARY:**

This document contains corrections to final regulations which were published in the *Federal Register* on January 10, 2000 (65 FR 1310), that recharacterize, for tax purposes, financing arrangements involving fast-pay stock.

**DATES:**

This correction is effective January 10, 2000.

**FOR FURTHER INFORMATION CONTACT:**

Jonathan Zelnick, (202) 622-3920 (not a toll-free number).

**SUPPLEMENTARY INFORMATION:**

**Background**

The final regulations that are the subject of this correction are under section 7701(l) of the Internal Revenue Code.

**Need for Correction**

As published, the final regulations (TD 8853) contain an error that may prove to be misleading and is in need of clarification.

**26 CFR Part 1**

**Correction of Publication**

Accordingly, the publication of the final regulations (TD 8853), which were the subject of FR Doc. 00-114, is corrected as follows:

§ 1.7701(l)-3

1. On page 1316, in § 1.7701(l)-3(g)(2)(iii) *Example 1,* paragraph (ii)(C)( *2* ), in the third column of the table, the heading “Amortizable premium” is corrected to read “Accrued discount”.

Dale D. Goode,

Federal Register Liaison, Assistant Chief Counsel (Corporate).