74 FR 189 pgs. 50758-50759 - Modification to Consolidated Return Regulation Permitting an Election To Treat a Liquidation of a Target, Followed by a Recontribution to a New Target, as a Cross-Chain Reorganization; Correction
Type: PRORULEVolume: 74Number: 189Pages: 50758 - 50759
Docket number: [REG-139068-08]
FR document: [FR Doc. E9-23645 Filed 9-30-09; 8:45 am]
Agency: Treasury Department
Sub Agency: Internal Revenue Service
Official PDF Version: PDF Version
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[REG-139068-08]
RIN 1545-BI31
Modification to Consolidated Return Regulation Permitting an Election To Treat a Liquidation of a Target, Followed by a Recontribution to a New Target, as a Cross-Chain Reorganization; Correction
AGENCY:
Internal Revenue Service (IRS), Treasury.
ACTION:
Correction to a notice of proposed rulemaking by cross-reference to temporary regulations.
SUMMARY:
This document contains corrections to a notice of proposed rulemaking by cross-reference to temporary regulations (REG-139068-08) that were published in the Federal Register on Friday, September 4, 2009 (74 FR 45789) modifying the election under which a consolidated group can avoid immediately taking into account an intercompany item after the liquidation of a target corporation. This modification was made necessary in light of the regulations under section 368 that were issued in October 2007 addressing transfers of assets or stock following a reorganization.
FOR FURTHER INFORMATION CONTACT:
Mary W. Lyons, (202) 622-7930 (not a toll-free number).
SUPPLEMENTARY INFORMATION:
Background
A notice of proposed rulemaking by cross-reference to temporary regulations that is the subject of this document is under section 1502 of the Internal Revenue Code.
Need for Correction
As published, a notice of proposed rulemaking by cross-reference to temporary regulations (REG-139068-08) contains errors that may prove to be misleading and are in need of clarification.
Correction of Publication
Accordingly, the publication of a notice of proposed rulemaking by cross-reference to temporary regulations (REG-139068-08), which was the subject of FR Doc. E9-21323, iscorrected as follows:
§ 1.1502-13 [Corrected]
1. On page 45791, column 1, paragraph (f)(5)(ii)(B)( 1 ), lines 2 and 3, the language "amendments to § 1.1502-13(B)( 1 ) is the same as the text of § 1.1502-13T(B)( 1 )" is corrected to read "amendments to § 1.1502-13(f)(5)(ii)(B)( 1 ) is the same as the text of § 1.1502-13T(f)(5)(ii)(B)( 1 )".
2. On page 45791, column 1, paragraph (f)(5)(ii)(B)( 2 ), lines 2 and 3, the language"amendments to § 1.1502-13(B)( 2 ) is the same as the text of § 1.1502-13T(B)( 2 )" is corrected to read "amendments to § 1.1502-13(f)(5)(ii)(B)( 2 ) is the same as the text of § 1.1502-13T(f)(5)(ii)(B)( 2 )".
3. On page 45791, column 1, paragraph (f)(5)(ii)(F), lines 2 and 3, the language "amendments to § 1.1502-13(F) is the same as the text of § 1.1502-13T(F)" is corrected to read "amendments to § 1.1502-13(f)(5)(ii)(F) is the same as the text of § 1.1502-13T(f)(5)(ii)(F)".
LaNita Van Dyke,
Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration).
[FR Doc. E9-23645 Filed 9-30-09; 8:45 am]
BILLING CODE 4830-01-P