# Partnership Mergers and Divisions; Correction
**AGENCY:**
Internal Revenue Service (IRS), Treasury.
**ACTION:**
Correcting Amendment.
**SUMMARY:**
This document contains corrections to final regulations (TD 8925), which were published in the *Federal Register* on Thursday, January 4, 2001 (66 FR 715), relating to the tax consequences of partnership mergers and divisions.
**EFFECTIVE DATE:**
January 4, 2001.
**FOR FURTHER INFORMATION CONTACT:**
Mary Beth Collins (202) 622-3080 or Daniel Carmody (202) 622-3050 (not toll-free numbers).
**SUPPLEMENTARY INFORMATION:**
**Background**
The final regulations that are the subject of these corrections are under section 708 of the Internal Revenue Code.
**Need for Correction**
As published, final regulations (TD 8925) contains errors which may prove to be misleading and are in need of clarification.
**List of Subjects in 26 CFR Part 1**
Income taxes, Reporting and recordkeeping requirements.
Accordingly, 26 CFR part 1 is corrected by making the following correcting amendments:
**PART 1—INCOME TAXES**
1. The authority citation for part 1 continues to read in part as follows:
**Authority:**
26 U.S.C. 7805. * * *
**PART 1—[Corrected]**
2. Each entry listed in the “Section/Location” column in the following table is amended by removing the text indicated in the “Remove” column, and adding the text indicated in the “Add” column.
| Section/Location | Remove | Add |
| --- | --- | --- |
| § 1.708-1(b)(4) second sentence | (b)(1)(i) | (b)(1) |
| § 1.708-1(b)(4), in four locations in third sentence | (b)(1)(iv) | (b)(4) |
| § 1.708-1(b)(4), Example. (iii), last sentence | § 1.708-1(b)(1)(iv) | § 1.708-1(b)(4) |
| § 1.708-1(b)(5), in three locations in last sentence | (b)(1)(v) | (b)(5) |
Cynthia E. Grigsby,
Chief, Regulations Unit, Associate Chief Counsel (Income Tax & Accounting).