This document contains corrections to final and temporary regulations (T.D. 9322, 2007-18 I.R.B. 1100) that were published in the Federal Register on Tuesday, April 10, 2007 (71 FR 17804) providing guidance to corporations filing consolidated returns and apply an anti-avoidance rule and revising an anti-loss reimportation rule that applies following a disposition of stock of a subsidiary at a loss.
Theresa Abell, (202) 622-7700 or Phoebe Bennett, (202) 622-7770 (not toll-free numbers).
The final and temporary regulations (T.D. 9322) that is the subject of these corrections are under section 1502 of the Internal Revenue Code.
As published, these final and temporary regulations (T.D. 9322) contain errors that may prove to be misleading and are in need of clarification.
Accordingly, these final and temporary regulations (T.D. 9322) that were the subject of FR Doc. E7-6541, are corrected as follows:
1. On page 17805, column 1, in the preamble, under the paragraph heading “Background and Explanation of Provisions” paragraph 2, line 6 from the bottom of the column, the language “the loss reimportation rule is also” is corrected to read “the anti-loss reimportation rule is also”.
2. On page 17805, column 2, in the preamble, under the paragraph heading “Special Analyses”, line 5 from the top of the column, the language “U.S.C. 553(b)(B) that prior notice and” is corrected to read “U.S.C. 553(b)(3)(B) that prior notice and”.
3. On page 17805, column 2, in the preamble, under the paragraph heading “Special Analyses”, line 16 from the top of the column, the language “reference notice of the proposed” is corrected to read “reference notice of proposed”.
LaNita Van Dyke,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.