This document contains a correction to temporary regulations (T.D. 9458, 2009-43 I.R.B. 547), which were published in the Federal Register on Friday, September 4, 2009 (74 FR 45757) relating to 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.
The correction is effective on January 13, 2010 and is applicable beginning September 4, 2009.
The temporary regulation that is the subject to this correction is under section 1502 of the Internal Revenue Code.
As published, temporary regulations (T.D. 9458), contains an error which 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 correcting amendment.
Paragraph 1. The authority for part 1 continues to read in part as follows:
Authority: 26 U.S.C. 7805 * * *
Par. 2. Paragraph (f)(5)(ii)(G) needs to be added following paragraph (f)(5)(ii)(F)(3), to read as follows:
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(f) * * *
(5) * * *
(ii) * * *
(G) Expiration date. Paragraphs (f)(5)(ii)(B), (B)(1), (B)(2) and (F)(1), (2), and (3) of this section will expire on September 3, 2012.
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Guy R. Traynor,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.