# Determining the Amount of Taxes Paid for Purposes of Section 901; Correction
**AGENCY:**
Internal Revenue Service (IRS), Treasury.
**ACTION:**
Correction to notice of proposed rulemaking.
**SUMMARY:**
This document contains a correction to notice of proposed rulemaking that was published in the *Federal Register* on Friday, March 30, 2007 (71 FR 15081) providing guidance relating to the determination of the amount of taxes paid for purposes of section 901.
**FOR FURTHER INFORMATION CONTACT:**
Bethany A. Ingwalson, (202) 622-3850 (not a toll-free number).
**SUPPLEMENTARY INFORMATION:**
**Background**
The notice of proposed rulemaking (REG-156779-06) that is the subject of this correction is under section 901 of the Internal Revenue Code.
**Need for Correction**
As published, this notice of proposed rulemaking (REG-156779-06) contains an error that may prove to be misleading and is in need of clarification.
**Correction of Publication**
Accordingly, the notice of proposed rulemaking (REG-156779-06), that was the subject of FR Doc. E7-5862, is corrected as follows:
On page 15085, column 3, in the preamble, first full paragraph of the column, under the paragraph heading “ *3. Comments and Proposed Regulations* ”, lines 1 and 2, the language “The fifth condition is that the counterparty is a person (other than the” is corrected to read “The fifth condition is that the arrangement involves a counterparty. A counterparty is a person (other than the”.
LaNita Van Dyke,
Branch Chief, Publications and Regulations Branch, Legal Processing Division, Office of Associate Chief Counsel (Procedure and Administration).