9286 Federal Register / Vol. 86, No. 28 / Friday, February 12, 2021 / Rules and Regulations 

partial paragraph, the language 

‘‘Accordingly,’’ is corrected to read 

‘‘Therefore,’’. 

9. On page 77968, the first column, 

the first full paragraph of the first and 

second sentences, the language 

‘‘Furthermore, allowing an exempt 

organization to elect to treat the debtfinanced income as part of a 2-digit 

NAICS code, instead of including such 

income as part of an organization’s 

investment activities, would not reduce 

the burden upon the exempt 

organization or the burden on the IRS. 

Such income would still need to be 

identified as debt-financed income and 

an additional determination of the 

underlying activity would also need to 

be made to determine a 2-digit NAICS 

code.’’ is corrected to read 

‘‘Furthermore, allowing an exempt 

organization to elect to treat the debtfinanced income as part of a NAICS 2- 

digit code, instead of including such 

income as part of an organization’s 

investment activities, would not reduce 

the burden on the exempt organization 

or the burden on the IRS. Such income 

would still need to be identified as debtfinanced income and an additional 

determination of the underlying activity 

would also need to be made to 

determine a NAICS 2-digit code.’’ 

10. On page 77968, the second 

column, the fourth line from the bottom 

of the last partial paragraph, the 

language ‘‘(Form 1120S)’’ is corrected to 

read ‘‘(Form1120–S)’’. 

11. On page 77968, the third column, 

the fourth line from the bottom of the 

first paragraph, the language ‘‘1120S) is 

needed’’ is corrected to read ‘‘1120–S) is 

necessary’’. 

12. On page 77970, the third column, 

the tenth line from the top of the first 

full paragraph, the language ‘‘describe’’ 

is corrected to read ‘‘described’’. 

13. On page 77971, the first column, 

the fifth and sixth line from the top of 

the first full paragraph, the language 

‘‘Hospitality’’ is corrected to read ‘‘the 

Hospitality’’ and ‘‘and Club’’ is 

corrected to read ‘‘and the Club’’. 

14. On page 77971, the third column, 

removing the language, ‘‘in the 

proposed regulations’’ in the third and 

fourth line from the top of the partial 

paragraph. 

15. On page 77972, the third column, 

the second line of the second paragraph, 

the language ‘‘an organization’’ is 

corrected to read ‘‘an exempt 

organization’’. 

16. On page 77978, the first column, 

the third line from the top of the last 

partial paragraph, the language ‘‘rules 

are’’ is corrected to read ‘‘rules is’’. 

Crystal Pemberton, 

Senior Federal Register Liaison, Publications 

and Regulations Branch, Legal Processing 

Division, Associate Chief Counsel (Procedure 

and Administration). 

Editorial note: This document was 

received for publication by the Office of the 

Federal Register on January 6, 2021. 

[FR Doc. 2021–00342 Filed 2–11–21; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

26 CFR Part 1 

[TD 9933] 

RIN 1545–BO79 

Unrelated Business Taxable Income 

Separately Computed for Each Trade 

or Business; Correction 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Correcting amendment. 

SUMMARY: This document contains 

corrections to the final regulations 

(Treasury Decision 9933) that published 

in the Federal Register on Wednesday, 

December 2, 2020. The final regulations 

provide guidance on how an exempt 

organization subject to the unrelated 

business income tax determines if it has 

more than one unrelated trade or 

business, and, if so, how the exempt 

organization calculates unrelated 

business taxable income. 

DATES: These corrections are effective 

on February 12, 2021 and are applicable 

on December 2, 2020. 

FOR FURTHER INFORMATION CONTACT: 

Jonathan A. Carter at (202) 317–5800 or 

Stephanie N. Robbins at (202) 317–4086 

(not toll-free numbers). 

SUPPLEMENTARY INFORMATION: 

Background 

The final regulations (TD 9933) that 

are the subject of this correction are 

issued under section 512 of the Internal 

Revenue Code. 

Need for Correction 

As published on December 2, 2020 

(85 FR 77952), the final regulations (TD 

9933) contain errors that needs to be 

corrected. 

List of Subjects in 26 CFR Part 1 

Income taxes, Reporting and 

recordkeeping requirements. 

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 * * * 

§ 1.512(a)–6 [Amended] 

■ Par. 2. Section 1.512(a)–6 is amended: 

■ a. In paragraph (a)(3)(i) by adding a 

semicolon after the word ‘‘year’’. 

■ b. In the third sentence of paragraph 

(h)(2) by removing the language ‘‘trade 

or business’’ and adding in its place 

‘‘trades or businesses’’. 

Crystal Pemberton, 

Senior Federal Register Liaison, Legal 

Processing Division, Associate Chief Counsel, 

(Procedure and Administration). 

Editorial Note: This document was 

received for publication by the Office of the 

Federal Register on January 6, 2021. 

[FR Doc. 2021–00341 Filed 2–11–21; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE INTERIOR 

Office of Natural Resources Revenue 

30 CFR Parts 1206 and 1241 

[Docket No. ONRR–2020–0001; DS63644000 

DRT000000.CH7000 212D1113RT] 

RIN 1012–AA27 

ONRR 2020 Valuation Reform and Civil 

Penalty Rule: Delay of Effective Date; 

Request for Public Comment 

AGENCY: Office of Natural Resources 

Revenue (‘‘ONRR’’), Interior. 

ACTION: Final rule; delay of effective 

date and opening of comment period. 

SUMMARY: In accordance with the 

January 20, 2021 White House 

Memorandum on Regulatory Freeze 

Pending Review and the Office of 

Management and Budget Memorandum 

M–21–14 of the same date, this action 

delays the effective date of the final rule 

entitled ‘‘ONRR 2020 Valuation Reform 

and Civil Penalty Rule’’ that published 

in the Federal Register on January 15, 

2021 (‘‘2020 Rule’’). In addition, this 

action opens a 30-day comment period 

to allow interested parties to comment 

on the impact of the delay to the 2020 

Rule’s effective date as well as issues of 

fact, law, and policy raised by that rule. 

DATES: Effective date: This action is 

effective February 12, 2021. The