72 FR 14678 E7-5603. Corporate Reorganizations; Additional Guidance on Distributions Under Sections 368(a)(1)(D) and 354(b)(1)(B); Correction  

  • Summary

    This document contains correction to temporary regulations (TD 9313) that were published in the Federal Register on Thursday, March 1, 2007 (72 FR 9262) providing guidance regarding the qualification of certain transactions as reorganizations described in section 368(a)(1)(D) where no stock and/or securities of the acquiring corporation are issued and distributed in the transaction.

    Table of Contents

    DATES: Back to Top

    This amendment is effective March 29, 2007.

    FOR FURTHER INFORMATION CONTACT: Back to Top

    Bruce A. Decker at (202) 622-7550 (not a toll-free number).

    SUPPLEMENTARY INFORMATION: Back to Top

    Background Back to Top

    The temporary regulations that are the subjects of this correction are under section 368 of the Internal Revenue Code.

    Need for Correction Back to Top

    As published, temporary regulations (TD 9313) contain an error that may prove to be misleading and is in need of clarification.

    List of Subjects in 26 CFR Part 1 Back to Top

    Income taxes, Reporting and recordkeeping requirements.

    Correction of Publication Back to Top

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

    PART 1—INCOME TAXES Back to Top

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

    Authority: Back to Top

    26 U.S.C. 7805 * * *

    Par. 2. Section 1.368-2T is amended by revising paragraph (l)(2)(iv) to read as follows:

    § 1.368-2T Definition of terms (temporary).

    * * * * *

    (l) * * *

    (2) * * *

    (iv) Exception. This paragraph (l)(2) of this section does not apply to a transaction otherwise described in § 1.358-6(b)(2) or section 368(a)(1)(G) by reason of section 368(a)(2)(D).

    * * * * *

    LaNita Van Dyke,

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

    [FR Doc. E7-5603 Filed 3-28-07; 8:45 am]

    BILLING CODE 4830-01-P

Document Information

Effective Date:
3/29/2007
Published:
03/29/2007
EntryType:
Rule
Action:
Correcting amendment.
Document Number:
E7-5603
Document Citation:
72 FR 14678
Dates:
This amendment is effective March 29, 2007.
Pages:
14678-14678 (1 pages)
Topics:
Income taxes, Reporting and recordkeeping requirements
CFR: (1)
26 CFR 1.368-2T