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Home » 2013 Issues » 78 FR (10/22/2013) » 2013-24537. Use of Differential Income Stream as an Application of the Income Method and as a Consideration in Assessing the Best Method; Correction

  2013-24537. Use of Differential Income Stream as an Application of the Income Method and as a Consideration in Assessing the Best Method; Correction  

  • Start Preamble

    AGENCY:

    Internal Revenue Service (IRS), Treasury.

    ACTION:

    Correcting amendment.

    SUMMARY:

    This document contains corrections to final regulations and removal of temporary regulations (TD 9630) that were published in the Federal Register on Tuesday, August 27, 2013 (78 FR 52854). The final regulations implement the use of the differential income stream as a consideration in assessing the best method in connection with a cost sharing arrangement and as a specified application of the income method.

    DATES:

    This correction is effective October 22, 2013, and is applicable beginning on or after December 19, 2011.

    Start Further Info

    FOR FURTHER INFORMATION CONTACT:

    Mumal R. Hemrajani, at (202) 622-3800 (not a toll free number).

    End Further Info End Preamble Start Supplemental Information

    SUPPLEMENTARY INFORMATION:

    Background

    The final regulations and removal of temporary regulations (TD 9630) that are the subject of this correction are under section 482 of the Internal Revenue Code.

    Need for Correction

    As published, the final regulations and removal of temporary regulations (TD 9630) contains an error that may prove to be misleading and is in need of clarification.

    Start List of Subjects

    List of Subjects in 26 CFR Part 1

    • Income taxes
    • Reporting and recordkeeping requirements
    End List of Subjects

    Correction of Publication

    Accordingly, 26 CFR part 1 is corrected by making the following correcting amendment:

    Start Part

    PART 1—INCOME TAXES

    End Part Start Amendment Part

    Paragraph 1. The authority citation for part 1 continues to read in part as follows:

    End Amendment Part Start Authority

    Authority: 26 U.S.C. 7805 * * *

    End Authority Start Amendment Part

    Par. 2. Section 1.482-7 is amended by revising the last sentence of paragraph (g)(4)(vi)(F)(2) to read as follows:

    End Amendment Part
    Methods to determine taxable income in connection with a cost sharing arrangement.
    * * * * *

    (g) * * *

    (4) * * *

    (vi) * * *

    (F) * * *

    (2) * * * See Example 8 of paragraph (g)(4)(viii) of this section.

    * * * * *
    Start Signature

    Martin V. Franks,

    Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration).

    End Signature End Supplemental Information

    [FR Doc. 2013-24537 Filed 10-21-13; 8:45 am]

    BILLING CODE 4830-01-P

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Document Information

Effective Date:
10/22/2013
Published:
10/22/2013
Department:
Internal Revenue Service
Entry Type:
Rule
Action:
Correcting amendment.
Document Number:
2013-24537
Dates:
This correction is effective October 22, 2013, and is applicable beginning on or after December 19, 2011.
Pages:
62426-62426 (1 pages)
Docket Numbers:
TD 9630
RINs:
1545-BK71: Use of Differential Income Stream as an Application of the Income Method and as a Consideration in Assessing the Best Method
RIN Links:
https://www.federalregister.gov/regulations/1545-BK71/use-of-differential-income-stream-as-an-application-of-the-income-method-and-as-a-consideration-in-a
Topics:
Income taxes, Reporting and recordkeeping requirements
PDF File:
2013-24537.pdf
CFR: (1)
26 CFR 1.482-7