This document contains corrections to temporary regulations (T.D. 9313, 2007-13 I.R.B. 805) that were published in the Federal Register on Thursday, March 1, 2007 (72 FR 9262) providing guidance regarding the qualification of certain transactions as reorganizations described in section 368(a)(1)(D) where no stock and/or securities of the acquiring corporation are issued and distributed in the transaction.
The temporary regulations that are the subjects of this correction are under section 368 of the Internal Revenue Code.
As published, temporary regulations (T.D. 9313) contain an error that may prove to be misleading and is in need of clarification.
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Accordingly, 26 CFR part 1 is corrected by making the following amendments:
Paragraph 1. The authority citation for part 1 continues to read, in part, as follows:
Authority: 26 U.S.C. 7805 * * *
Par. 2. Section 1.368-2T is amended by revising paragraph (l)(2)(iv) to read as follows:
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(l) * * *
(2) * * *
(iv) Exception. This paragraph (l)(2) of this section does not apply to a transaction otherwise described in §1.358-6(b)(2) or section 368(a)(1)(G) by reason of section 368(a)(2)(D).
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