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Home » 2012 Issues » 77 FR (02/14/2012) » 2012-3353. Section 482; Methods To Determine Taxable Income in Connection With a Cost Sharing Arrangement; Correction

  2012-3353. Section 482; Methods To Determine Taxable Income in Connection With a Cost Sharing Arrangement; Correction  

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    AGENCY:

    Internal Revenue Service (IRS).

    ACTION:

    Correction to notice of correcting amendments.

    SUMMARY:

    This document contains corrections to a correcting amendment (TD 9568), which was published in the Federal Register on Wednesday, January 25, 2012 (77 FR 3606) relating to section 482 and methods to determine taxable income in connection with a cost sharing arrangement.

    DATES:

    This correction is effective on February 14, 2012, and is applicable beginnning December 22, 2011.

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    FOR FURTHER INFORMATION CONTACT:

    Joseph L. Tobin at (202) 435-5265 (not a toll-free number).

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    SUPPLEMENTARY INFORMATION:

    Background

    The final regulations that are the subject of these corrections are under section 482 of the Internal Revenue Code.

    Need for Correction

    As published, the correcting amendments to final regulations (TD 9568), contains errors which may prove to be misleading and are in need of clarification.

    Correction of Publication

    Accordingly, the publication of the correcting amendments to final regulations, (TD 9568), which were the subject of FR Doc. 2012-895, is corrected as follows:

    1. On page 3606, second column, instructional paragraph 3., item 4. the language “4. Revising paragraph (k)(2)(ii)(3) is corrected to read “5. Revising paragraph (k)(2)(ii)(A)(3).

    2. On page 3606, second column, under the instructional paragraph 3., the language “4. Revising the fourth sentence of paragraph (g)(4)(viii), Example 3.” is added.

    [Corrected].

    3. On page 3606, third column, § 1.482-7(g)(2)(v)(C), Example (i), add three asterisks to the end of the paragraph and remove the five asterisks from below the paragraph.

    4. On page 3606, third column, § 1.482-7(g)(2) after the five asterisks following paragraph (ii) the language “(3) * * *”, is corrected to read “(4) * * *”.

    5. On page 3606, third column, § 1.482-7 (g)(4)(viii), the language “(viii) * * *” is corrected to read “(viii) Examples. * * *”

    6. On page 3606, third column, § 1.482-7(k)(2) below the five asterisks following paragraph (viii), Example 3 add “(A)* * *” below “(ii)* * *” and above “(3)” and underscore “(3)”.

    Start Signature

    Guy R. Traynor,

    Federal Register Liaison, Legal Processing Division, Publication and Regulations Branch, Associate Chief Counsel (Procedure and Administration).

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    [FR Doc. 2012-3353 Filed 2-13-12; 8:45 am]

    BILLING CODE 4830-01-P

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Document Information

Effective Date:
2/14/2012
Published:
02/14/2012
Department:
Internal Revenue Service
Entry Type:
Rule
Action:
Correction to notice of correcting amendments.
Document Number:
2012-3353
Dates:
This correction is effective on February 14, 2012, and is applicable beginnning December 22, 2011.
Pages:
8144-8144 (1 pages)
Docket Numbers:
TD 9568
RINs:
1545-BI47: Section 482: Methods To Determine Taxable Income in Connection With a Cost Sharing Arrangement
RIN Links:
https://www.federalregister.gov/regulations/1545-BI47/section-482-methods-to-determine-taxable-income-in-connection-with-a-cost-sharing-arrangement
PDF File:
2012-3353.pdf