# [Corrected]
**AGENCY:**
Internal Revenue Service (IRS), Treasury.
**ACTION:**
Corrections to notice of proposed rulemaking by cross-reference to temporary regulations and notice of proposed rulemaking.
**SUMMARY:**
This document contains corrections to notice of proposed rulemaking by cross-reference to temporary regulations (REG-142039-06) and notice of proposed rulemaking (REG-139268-06) that were published in the *Federal Register* on Friday, July 6, 2007 (72 FR 36927) providing guidance under 4965 of the Internal Revenue Code and relating to entity-level and manager-level excise taxes with respect to prohibited tax shelter transactions to which tax-exempt entities are parties; §§ 6033(a)(2) and 6011(g), relating to certain disclosure obligations with respect to such transactions; and §§ 6011 and 6071, relating to the requirement of a return and time for filing with respect to section 4965 taxes.
**FOR FURTHER INFORMATION CONTACT:**
Concerning the regulations, Galina Kolomietz, (202) 622-6070, or Michael Blumenfeld, (202) 622-1124 (not toll-free numbers). For questions specifically relating to qualified pension plans, individual retirement accounts, and similar tax-favored savings arrangements, contact Dana Barry, (202) 622-6060 (not a toll-free number).
**SUPPLEMENTARY INFORMATION:**
**Background**
The notice of proposed rulemaking by cross-reference to temporary regulations and notice of proposed rulemaking that are the subjects of this correction are under sections 6011, 6033, 6071, and 4965 of the Internal Revenue Code.
**Need for Correction**
As published, proposed regulations (REG-142039-06 and REG-139268-06) contain errors that may prove to be misleading and are in need of clarification.
**Correction of Publication**
Accordingly, the publication of the proposed regulations (REG-142039-06 and REG-139268-06) which were the subjects of FR Doc.E7-12902), is corrected as follows:
§ 53.4965-4
1. On page 36933, column 1, § 53.4365-4(c) *Example 2.* , line 12 of the paragraph, the language “by Notice 2006-16 (2006-9 IRB 538). The” is corrected to read “by Notice 2006-16 (2006-9 IRB 538)). The”.
§ 53.4965-8
2. On page 36936, column 3, § 53.4965-8(e), line 2 of the paragraph, the language “ *periods* . If a transaction (other than a” is corrected to read “ *periods* . If a transaction other than a”.
**PART 301—PROCEDURE AND ADMINISTRATION**
3. On page 36938, column 1, paragraph 8, line 2, the language “301 continues to read, part, as follows:” is corrected to read “301 continues to read, in part, as follows:”.
§ 301.6011(g)-1
4. On page 36938, column 1, § 301.6011(g)-1(a)(2)(i), line 4 of the paragraph, the language “of its tax-exempt, tax-indifferent or tax-” is corrected to read “of its tax-exempt, tax indifferent or tax-”.
5. On page 36938, column 1, § 301.6011(g)-1(a)(2)(ii), line 3 of the paragraph, the language “exempt, tax-indifferent or tax-favored” is corrected to read “exempt, tax indifferent or tax-favored”.
§ 301.6033-5
6. On page 36939, column 1, § 301.6033-5, line 1 of the paragraph, the language “[The text of this section is the same” is corrected to read “[The text of the proposed amendment to § 301.6033-5 is the same”.
LaNita Van Dyke,
Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration).