# Definition of ownership change under section 382, as amended by the tax Reform Act of 1986 (temporary).
**AGENCY:**
Internal Revenue Service (IRS), Treasury.
**ACTION:**
Correcting amendment.
**SUMMARY:**
This document contains correcting amends to IRS' regulations providing guidance regarding the treatment of prepaid income under the built-in gain provisions of section 382(h). These errors were made when the agency published final regulations (TD 9487) in the *Federal Register* on Wednesday, June 16, 2010 (75 FR 33990).
**DATES:**
This correction is effective on July 28, 2010, and is applicable on June 16, 2010.
**FOR FURTHER INFORMATION CONTACT:**
Keith E. Stanley, (202) 622-7750 (not a toll-free number).
**SUPPLEMENTARY INFORMATION:**
**Background**
The final regulations (TD 9487) that are the subject of this document are under section 382 of the Internal Revenue Code.
**Need for Correction**
As published, the final regulations (TD 9487) contain errors that 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.
**26 CFR Part 1**
**Correction of Publication**
Accordingly, 26 CFR part 1 is corrected by making the following correcting amendments:
**PART 1—INCOME TAXES**
*Paragraph 1.* The authority citation for part 1 continues to read in part as follows:
**Authority:**
26 U.S.C. 7805 * * *.
**26 CFR Part 1**
*Par. 2.* Section 1.382-2T is amended by revising the headings of paragraph (h)(4)(vii)(A) and paragraph (h)(4)(x)(J) to read as follows:
§ 1.382-2T
(h) * * *
(4) * * *
(vii) * * *
(A) Right or obligation to issue stock. * * *
(x) * * *
(J) Title 11 or similar case. * * *
LaNita Van Dyke,
Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel, (Procedure and Administration).