# Table of contents.
**AGENCY:**
Internal Revenue Service (IRS), Treasury.
**ACTION:**
Correcting amendments.
**SUMMARY:**
This document contains corrections to final regulations (Treasury Decision 9938) that were published in the *Federal Register* on Tuesday, January 19, 2021. The Treasury Decision provided final regulations implementing an excise tax on remuneration in excess of $1,000,000 and any excess parachute payment paid by an applicable tax-exempt organization to any covered employee.
**DATES:**
*Effective date:* These final regulation corrections are effective on May 5, 2021.
**FOR FURTHER INFORMATION CONTACT:**
William McNally at (202) 317-5600 or Patrick Sternal at (202) 317-5800 (not toll-free numbers).
**SUPPLEMENTARY INFORMATION:**
**Background**
The final regulations (TD 9938) that are the subject of this correction are issued under section 4960 of the Internal Revenue Code.
**Need for Correction**
As published on January 19, 2021 (86 FR 6196) the final regulations (TD 9938) contain errors that need to be corrected.
**List of Subjects in 26 CFR Part 53**
Excise taxes, Foundations, Investments, Lobbying, Reporting and recordkeeping requirements.
**Correction of Publication**
Accordingly, 26 CFR part 53 is corrected by making the following correcting amendments:
**PART 53—FOUNDATION AND SIMILAR EXCISE TAXES**
**26 CFR Part 53**
*Paragraph 1.* The authority citation for part 53 continues to read in part as follows:
**Authority:**
26 U.S.C. 7805 * * *
**26 CFR Part 53**
*Par. 2.* Section 53.4960-0 is amended by revising the entry for § 53.4960-1(b)(3) to read as follows:
§ 53.4960-0
§ *53.4960-1 Scope and definitions.*
(b) * * *
(3) [Reserved]
Crystal Pemberton,
Senior Federal Register Liaison, Legal Processing Division, Associate Chief Counsel, (Procedure and Administration).