This document contains corrections to a notice of proposed rulemaking (REG-119532-08, 2009-20 I.R.B. 1017) that was published in the Federal Register on Thursday, April 30, 2009, at 74 FR 19913. The corrections relate to proposed regulations that provide guidance on the portion of trust property includible in the grantor’s gross estate if the grantor has retained the use of the property, the right to an annuity, unitrust, graduated retained interest, or other payment from such property for life, for any period not ascertainable without reference to the grantor’s death, or for a period that does not in fact end before the grantor’s death.
The notice of proposed rulemaking that is the subject of this document is under section 2036 of the Internal Revenue Code.
As published, the notice of proposed rulemaking (REG-119532-08) that was published on April 30, 2009 (74 FR 19913) contains errors in one of the charts that are misleading and needs clarification.
Accordingly, the notice of proposed rulemaking which was the subject of FR Doc. E9-10003 is corrected as follows:
On page 19917, §20.2036-1(c)(2)(iii) Example 7 (iii), the chart at the top of the page is corrected to read as follows:
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(c) * * *
(2) * * *
(iii) * * *
Example 7. (i) * * *
(iii) * * *
| Year 3 | Year 4 | Year 5 | Amount required to generate annuity | ||
| Additional annuity | $34,560 | Deferral period | $453,109 | $453,109 | |
| Additional annuity | $28,800 | Deferral period | $403,266 | $403,266 | |
| Annuity in year of death | $144,000 | $2,117,647 | 2,117,647 | ||
| Total amount (sum) included in gross estate | $2,974,022 | ||||
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Cynthia E. Grigsby,The Internal Revenue Bulletin is produced and published by the Internal Revenue Service and contains IRS pronouncements affecting tax analysis under the Code and the Regulations, including but not limited to Revenue Procedures, Revenue Rulings, Notices and Announcements. Access the IRS site at https://www.irs.gov/help/irsgov-accessibility for information concerning accessibility of IRS materials. While every effort has been made to ensure that the IRB database files available through the TouchTax application are accurate, those using TouchTax for legal research should verify their results against the printed versions of the IRBs available from the IRS.