Excise Taxes on Excess Benefit Transactions; Correction

---
identifier: "/us/fr/01-5006"
source: "fr"
legal_status: "authoritative_unofficial"
title: "Excise Taxes on Excess Benefit Transactions; Correction"
title_number: 0
title_name: "Federal Register"
section_number: "01-5006"
section_name: "Excise Taxes on Excess Benefit Transactions; Correction"
positive_law: false
currency: "2001-03-02"
last_updated: "2001-03-02"
format_version: "1.1.0"
generator: "[email protected]"
agency: "Treasury Department"
document_number: "01-5006"
document_type: "rule"
publication_date: "2001-03-02"
agencies:
  - "Treasury Department"
  - "Internal Revenue Service"
cfr_references:
  - "26 CFR Part 53"
  - "26 CFR Part 301"
rin: "1545-AY64"
fr_citation: "66 FR 13013"
fr_volume: 66
docket_ids:
  - "TD 8920"
effective_date: "2001-01-10"
fr_action: "Correction to temporary regulations."
---


#  [Corrected]

**AGENCY:**

Internal Revenue Service (IRS), Treasury.

**ACTION:**

Correction to temporary regulations.

**SUMMARY:**

This document contains corrections to temporary regulations that were published in the *Federal Register* on January 10, 2001 (66 FR 2144). This document relates to the excise taxes on excess benefit transactions under section 4958 of the Internal Revenue Code.

**DATES:**

This correction is effective January 10, 2001.

**FOR FURTHER INFORMATION CONTACT:**

Phyllis D. Haney (202) 622-4290 (not a toll-free number).

**SUPPLEMENTARY INFORMATION:**

**Background**

These temporary regulations that are the subject of this correction are under section 4958 of the Internal Revenue Code.

**Need for Correction**

As published, these temporary regulations (TD 8920) contain errors that may prove to be misleading and are in need of clarification.

**Correction of Publication**

Accordingly, the publication of the temporary regulations (TD 8920), which were the subject of FR Doc. 01-256, is corrected as follows:

**26 CFR Part 53**

§ 53.4958-4T

1. On page 2164, column 3, § 53.4958-4T, paragraph (a)(3)(vii), *Example 1* , line 12, the language “T (see § 53.4958-3T(a)). Under the initial” is corrected to read “T (see § 53.4958-3T (c)(3)). Under the initial”.

**26 CFR Part 53**

2. On page 2165, column 1, § 53.4958-4T, paragraph (a)(3)(vii), *Example 6* , line 19, the language “respect to B, Company X also becomes a” is corrected to read “respect to Hospital B, Company X also becomes a”.

3. On page 2165, column 1, § 53.4958-4T, paragraph (a)(3)(vii), *Example 6* , line 20, the language “disqualified person with respect to B (see” is corrected to read “disqualified person with respect to Hospital B (see”.

**26 CFR Part 53**

4. On page 2167, column 2, § 53.4958-4T, paragraph (c)(3)(i)(B), last line in the paragraph, the language “paragraph (b)(3)(i)(A) of this section.” is corrected to read “paragraph (c)(3)(i)(A) of this section.”.

§ 53.4958-6T

5. On page 2168, column 1, § 53.4958-6T, paragraph (a)(1), first line in the column, the language “the organization with the meaning of” is corrected to read “the organization within the meaning of”.

**26 CFR Part 53**

6. On page 2169, column 1, § 53.4958-6T, paragraph (c)(2)(iv), *Example 2* , line 1, the language “ *Example 2* . The facts are the same as” is corrected to read “ *Example 2* . The facts are the same as in”.

7. On page 2169, column 1, § 53.4958-6T, paragraph (c)(2)(iv), *Example 4* , line 1, the language “ *Example 4* . The facts are the same as” is corrected to read “ *Example 4* . The facts are the same as in”.

**26 CFR Part 53**

§ 301.7611-1

8. On page 2171, column 3, § 301.7611-1, under the undesignated centerheading “Application to Section 4958”, A-19, line 1, the language “A-19: See § 53.4958-7(b) of this” is  corrected to read “A-19: See § 53.4958-8T(b) of this”.

Cynthia E. Grigsby,

Chief, Regulations Unit, Office of Special Counsel (Modernization and  Strategic Planning).