# Section 707 Regarding Disguised Sales, Generally; Correction
**AGENCY:**
Internal Revenue Service (IRS), Treasury.
**ACTION:**
Correction to notice of proposed rulemaking and notice of public hearing.
**SUMMARY:**
This document contains a correction to proposed regulations which were published in the *Federal Register* on Friday, November 26, 2004 (69 FR 68838). The proposed regulations relates to the treatment of transactions between a partnership and its partners as disguised sales of partnership interests between the partners.
**FOR FURTHER INFORMATION CONTACT:**
Deane M. Burke or Christopher L. Trump, (202) 622-3070 (not a toll-free number).
**SUPPLEMENTARY INFORMATION:**
**Background**
The proposed regulations that is the subject of this correction is under section 707(a)(2)(B) of the Internal Revenue Code.
**Need for Correction**
As published, the notice of proposed rulemaking and notice of public hearing contain an error that may prove to be misleading and is in need of clarification.
**Correction to Publication**
Accordingly, the publication of the proposed regulations (REG-149519-03), which was the subject of FR Doc. 04-26112, is corrected as follows:
On page 68843, column 3, in the preamble under the paragraph heading, “Review of Existing Regulations”, line 5, the language “§§ 1.707-3, 1.707-4, and 1.707-5.” is corrected to read “§§ 1.707-3, 1.707-4, 1.707-5 and 1.707-6.”.
Cynthia E. Grigsby,
Acting Chief, Regulations and Publications Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration).