# Section 1221(a)(4) Capital Asset Exclusion for Accounts and Notes Receivable
**AGENCY:**
Internal Revenue Service (IRS), Treasury.
**ACTION:**
Correction notice.
**SUMMARY:**
This document corrects a notice of proposed rulemaking (REG-109367-06) that was published in the *Federal Register* on Monday, August 7, 2006 (71 FR 44600) clarifying the circumstances in which accounts or notes receivable are “acquired * * * for services rendered” within the meaning of section 1221(a)(4) of the Internal Revenue Code.
**FOR FURTHER INFORMATION CONTACT:**
K. Scott Brown (202) 622-7454 (not a toll-free number).
**SUPPLEMENTARY INFORMATION:**
**Background**
The notice of proposed rulemaking (REG-109367-06) that is the subject of this correction is under section 1221 of the Internal Revenue Code.
**Need for Correction**
As published, REG-109367-06 contains an error that may prove to be misleading and is in need of clarification.
**Correction of Publication**
Accordingly, the publication of the proposed regulations (REG-109367-06) which was the subject of FR Doc. E6-12789, is corrected as follows:
1. On page 44600, column 1, in the preamble, under the caption *FOR FURTHER INFORMATION CONTACT* , line 2, the language “Scott Brown (202) 622-3920 (not a toll-” is corrected to read “Scott Brown (202) 622-7454 (not a toll-”.
Guy Traynor,
Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration).