Internal Revenue Bulletin: 2005-15 |
April 11, 2005 |
Table of Contents
This document corrects final regulations (T.D. 9187, 2005-13 I.R.B. 778) that were published in the Federal Register on Thursday, March 3, 2005 (70 FR 10319), that disallows certain losses recognized on sales of subsidiary stock by members of a consolidated group.
Theresa Abell, (202) 622-7700 or Martin Huck, (202) 622-7750 (not toll-free numbers).
The final and temporary regulations (T.D. 9187) that is the subject of this correction is under sections 337(d) and 1502 of the Internal Revenue Code.
As published, T.D. 9187 contains an error that may prove to be misleading and is in need of clarification.
* * * * *
Accordingly, 26 CFR Part 1 is corrected by making the following correcting amendment:
Paragraph 1. The authority citation for part 1 continues to read in part as follows:
Authority: 26 USC 7805 * * *
Section 1.1502-20(i)(3)(viii), second sentence, the language “Any reapportionment of a section 382 limitation made pursuant to the previous sentence shall have the effects described in paragraphs (i)(3)(iii)(D)(ii) and (iii) of this section.” is removed and the language “Any reapportionment of a section 382 limitation made pursuant to the previous sentence shall have the effects described in paragraph (i)(3)(iii)(D)(2) and (3) of this section.” is added in its place.
Cynthia E. Grigsby,
Acting
Chief, Publications and Regulations Branch,
Legal
Processing Division,
Associate Chief Counsel
(Procedures
and Administration).
Note
(Filed by the Office of the Federal Register on March 24, 2005, 8:45 a.m., and published in the issue of the Federal Register for March 25, 2005, 70 F.R. 15227)
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