03-11591. Guidance Under Section 1502; Suspension of Losses on Certain Stock Dispositions; Correction
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Start Preamble
AGENCY:
Internal Revenue Service (IRS), Treasury.
ACTION:
Correcting amendment.
SUMMARY:
This document contains a correction to Treasury Decision 9048, which was published in the Federal Register on Friday, March 14, 2003 (68 FR 12287) that redetermines the basis of stock of a subsidiary member or a consolidated group immediately prior to certain transfers of such stock and certain deconsolidations of a subsidiary member.
DATES:
This correction is effective on March 14, 2003.
Start Further InfoFOR FURTHER INFORMATION CONTACT:
Aimee K. Meacham at (202) 622-7530 (not a toll-free number).
End Further Info End Preamble Start Supplemental InformationSUPPLEMENTARY INFORMATION:
Background
The final regulations that are the subject of this correction are under section 1502 of the Internal Revenue Code.
Need for Correction
As published, TD 9048 contains an error which may prove to be misleading and is in need of clarification.
Start List of SubjectsList of Subjects in 26 CFR Part 1
- Income taxes
- Reporting and recordkeeping requirements
Correction of Publication
Start Amendment PartAccordingly, 26 CFR Part 1 is corrected by making the following correcting amendment:
End Amendment Part Start PartPART 1—INCOME TAXES
End Part Start Amendment PartParagraph 1. The authority citation for part 1 continues to read in part as follows:
End Amendment Part[Corrected]Par. 2. Section 1.1502-35T(b)(2)(ii)(B) is amended by removing the word “or” at the end of the paragraph.
End Amendment Part Start SignatureLaNita Van Dyke,
Acting Chief, Regulations Unit, Associate Chief Counsel, (Procedure and Administration).
[FR Doc. 03-11591 Filed 5-8-03; 8:45 am]
BILLING CODE 4830-01-P
Document Information
- Effective Date:
- 3/14/2003
- Published:
- 05/09/2003
- Department:
- Internal Revenue Service
- Entry Type:
- Rule
- Action:
- Correcting amendment.
- Document Number:
- 03-11591
- Dates:
- This correction is effective on March 14, 2003.
- Pages:
- 24880-24880 (1 pages)
- Docket Numbers:
- TD 9048
- Topics:
- Income taxes, Reporting and recordkeeping requirements
- PDF File:
- 03-11591.pdf
- CFR: (1)
- 26 CFR 1.1502-35T