This document contains a correction to final regulations (T.D. 9078, 2003-39 I.R.B. 630) that were published in the Federal Register on July 17, 2003 (68 FR 42251) relating to a qualified subchapter S trust election for testamentary trust.
The final regulations that are the subject of this correction are under section 1361 of the Internal Revenue Code.
As published, the final regulations (T.D. 9078), contain an error that may prove to be misleading and is in need of clarification.
Accordingly, the publication of the final regulations (T.D. 9078), which were the subject of FR Doc. 03-18040, is corrected as follows:
On page 42251, column 3, in the preamble under the paragraph heading “Summary of Comments and Explanation of Provisions”, third paragraph, line 6, the language “revocable trust (QRT) for which an” is corrected to read “revocable trust for which an”.
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.