This document contains corrections to final regulations (T.D. 9254, 2006-13 I.R.B. 662) that were published in the Federal Register on Tuesday, March 14, 2006 (71 FR 13008). The regulations apply when a member of a consolidated group transfers subsidiary stock at a loss. They also apply when a member holds loss shares of subsidiary stock and the subsidiary ceases to be a member of the group.
Theresa Abell (202) 622-7700 or Martin Huck (202) 622-7750 (not toll-free numbers).
The final regulations (T.D. 9254) that are the subject of this correction are under section 1502 of the Internal Revenue Code.
As published, final regulations (T.D. 9254) contains an error that may prove to be misleading and is in need of clarification.
Accordingly, the final regulations (T.D. 9254) which was the subject of FR Doc. 06-2411, is corrected as follows:
On page 13009, column 2, in the preamble, under the paragraph heading “Special Analyses”, line 4 from the bottom of the paragraph, the language “these regulations was submitted to the” is corrected to read “these regulations were submitted to the”.
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.