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Home » 2020 Issues » 85 FR (08/14/2020) » 2020-16383. Base Erosion and Anti-Abuse Tax; Correcting Amendment

  2020-16383. Base Erosion and Anti-Abuse Tax; Correcting Amendment  

  • Start Preamble Start Printed Page 49595

    AGENCY:

    Internal Revenue Service (IRS), Treasury.

    ACTION:

    Correcting amendments.

    SUMMARY:

    This document contains corrections to final regulations (TD 9885) that were published in the Federal Register on Friday, December 6, 2019. The final regulations implementing the base erosion and anti-abuse tax, designed to prevent the reduction of tax liability by certain large corporate taxpayers through certain payments made to foreign related parties and certain tax credits.

    DATES:

    Effective date: The final regulations are effective on August 14, 2020.

    Applicability date: December 6, 2019.

    Start Further Info

    FOR FURTHER INFORMATION CONTACT:

    Sarah Hoyt at (202) 317-6848 or Julie Wang at (202) 317-6975 (not a toll-free number).

    End Further Info End Preamble Start Supplemental Information

    SUPPLEMENTARY INFORMATION:

    Background

    The final regulations (TD 9885) that are the subject of this correction are issued under § 1.1.502-59A of the Internal Revenue Code.

    Need for Correction

    As published, December 6, 2019 (84 FR 66968) the final regulations (TD 9885; FR DOC. 2019-25744) contains an error that needs to be corrected.

    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 amendments:

    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
    [Transferred]
    Start Amendment Part

    Par. 2. Section 1.1502-59A is amended by transferring the section underneath the undesignated heading “Special Taxes and Taxpayers” and following § 1.1502-55.

    End Amendment Part
    * * * * *
    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. 2020-16383 Filed 8-13-20; 8:45 am]

    BILLING CODE 4830-01-P

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Document Information

Effective Date:
8/14/2020
Published:
08/14/2020
Department:
Internal Revenue Service
Entry Type:
Rule
Action:
Correcting amendments.
Document Number:
2020-16383
Dates:
Effective date: The final regulations are effective on August 14, 2020.
Pages:
49595-49595 (1 pages)
Docket Numbers:
TD 9885
RINs:
1545-BO56: Section 59A Proposed Regulations
RIN Links:
https://www.federalregister.gov/regulations/1545-BO56/section-59a-proposed-regulations
Topics:
Income taxes, Reporting and recordkeeping requirements
PDF File:
2020-16383.pdf
Supporting Documents:
» Base Erosion and Anti-Abuse Tax
» Base Erosion and Anti-Abuse Tax; Correction
» Base Erosion and Anti-Abuse Tax; Correcting Amendment
» Additional Rules Regarding Base Erosion and Anti-Abuse Tax
CFR: (1)
26 CFR 1.1.502-59A