Internal Revenue Bulletin: 2004-21
May 24, 2004
Table of Contents
This document contains corrections to T.D. 9118, 2004-15 I.R.B. 718 [69 FR 12799], which was published in the Federal Register on Thursday, March 18, 2004, relating to certain aspects of the temporary regulations addressing the deductibility of losses recognized on dispositions of subsidiary stock by members of a consolidated group and to the consequences of treating subsidiary stock as worthless.
Mark Weiss (202) 622-7790 or Lola Johnson (202) 622-7550 (not a toll-free number).
The temporary regulations (T.D. 9118) that are the subject of this correction is under 1502 of the Internal Revenue Code.
As published, T.D. 9118 contains errors that may prove to be misleading and are in need of clarification.
* * * * *
Accordingly, 26 CFR Part 1 is corrected by making the following correcting 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 1.1502-35T(f)(1), the language “expired as of the day following the last” is removed and the language “expired as of the beginning of the day following the last”.
Par. 3. Section 1.1502-35T(f)(1), the language “shall be treated as expired as of the day” is removed and the language “shall be treated as expired as of the beginning of the day”.
LaNita Van Dyke,
Acting Chief, Publications and Regulations Branch,
Legal Processing Division,
Associate Chief Counsel
(Procedure and Administration).
(Filed by the Office of the Federal Register on May 5, 2004, 8:45 a.m., and published in the issue of the Federal Register for May 6, 2004, 69 F.R. 25315)
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