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###### Department of the Treasury

###### Internal Revenue Service

          - 26 CFR Part 1
          - [TD 9508]
          - RIN 1545-BJ85

# AGENCY:

Internal Revenue Service (IRS), Treasury.

# ACTION:

Correcting amendment.

# SUMMARY:

                        This document contains a correction to temporary regulations (TD 9508) that were published in the                         **Federal Register**                         on Wednesday, December 8, 2010 (75 FR 76262)providing guidance about the treatment of fails charges for purposes of sections 871 and 881, which generally require gross-basis taxation of foreign persons not otherwise subject to U.S. net-basis taxation and the withholding of such tax under sections 1441 and 1442.                    

# DATES:

This correction is effective on December 28, 2010, and is applicable beginning December 8, 2010.

# FOR FURTHER INFORMATION CONTACT:

Sheila Ramaswamy or Anthony J. Marra at (202) 622-3870 (not a toll-free number).

# SUPPLEMENTARY INFORMATION:

## Background

The temporary regulations (TD 9508) that are the subject of this document are under section 863 of the Internal Revenue Code.

## Need for Correction

As published, the temporary regulations (TD 9508) contain an error that may prove to be misleading and is in need of clarification.

# List of Subject 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 amendment:

# 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 * * * 

**Par. 2.**                         Section 1.863-10T is amended by revising the paragraph (f) to read as follows:                    

§ 1.863-10T 

* * * * *

                            (f)                             *Expiration date.*                             This section expires on December 6, 2013.                        

Guy R. Traynor,

Acting Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel, Procedure and Administration.

[FR Doc. 2010-32536 Filed 12-27-10; 8:45 am]

BILLING CODE 4830-01-P