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Internal Revenue Bulletin:  2007-35 

August 27, 2007 


T.D. 9336 T.D. 9336

Final regulations under section 6012 of the Code revise the filing requirements for Subchapter T cooperatives, instructing all such cooperatives to file their returns on the newly developed Form 1120-C, U.S. Income Tax Return for Cooperative Associations. Announcements 84-26 and 84-37 obsoleted.

Announcement 2007-74 Announcement 2007-74

This document contains corrections to proposed regulations (REG-157711-02, 2007-8 I.R.B. 537) which apply to corporations filing consolidated returns and implement aspects of the repeal of the General Utilities doctrine by redetermining members’ bases in subsidiary stock and requiring certain reductions in subsidiary stock basis on a transfer of the stock.

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