96-6484. Controlling Corporation's Basis Adjustment in its Controlled Corporation's Stock Following a Triangular Reorganization; Correction

[Federal Register Volume 61, Number 56 (Thursday, March 21, 1996)]
[Rules and Regulations]
[Page 11547]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-6484]



-----------------------------------------------------------------------


DEPARTMENT OF THE TREASURY
26 CFR Part 1

[TD 8648]
RIN 1545-AB21


Controlling Corporation's Basis Adjustment in its Controlled 
Corporation's Stock Following a Triangular Reorganization; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to final regulations.

-----------------------------------------------------------------------

SUMMARY: This document contains a correction to final regulations [TD 
8648] which were published in the Federal Register for Thursday, 
December 21, 1995 (60 FR 66077). The final regulations relate to the 
rules for adjusting the basis of a controlling corporation in the stock 
of a controlled corporation as the result of certain triangular 
reorganizations involving the stock of the controlling corporation.

EFFECTIVE DATE: December 21, 1995.

FOR FURTHER INFORMATION CONTACT: Curt Cutting, [phone] (not a 
toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The final regulations that are the subject of this correction are 
under sections 358, 1032, and 1502 of the Internal Revenue Code.

Need for Correction

    As published, TD 8648 contains a typographical error that is in 
need of clarification.

Correction of Publication

    Accordingly, the publication of the final regulations which are the 
subject of FR Doc. 95-30875, is corrected as follows:


Sec. 1.358-6  [Corrected]

    On page 66080, column 3, Sec. 1.358-6 (c)(4), in paragraph (d) of 
Example 2., line 9, the language ``Under 1.358-6 (c)(2)(i)(A), P's 
basis in its T'' is corrected to read ``Under Sec. 1.358-6 
(c)(2)(i)(A), P's basis in its T''.
Cynthia E. Grigsby,
Chief, Regulations Unit, Assistant Chief Counsel (Corporate).
[FR Doc. 96-6484 Filed 3-20-96; 8:45 am]
BILLING CODE 4830-01-U