96-23087. Consolidated ReturnsLimitations on the Use of Certain Losses and Deductions; Correction

[Federal Register Volume 61, Number 177 (Wednesday, September 11, 1996)]
[Rules and Regulations]
[Pages 47821-47822]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-23087]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 8677]
RIN 1545-AU35


Consolidated Returns--Limitations on the Use of Certain Losses 
and Deductions; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to the final and temporary regulations.

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SUMMARY: This document contains corrections to the final and temporary 
regulations (TD 8677) which were published in the Federal Register on 
Thursday, June 27, 1996 (61 FR 33321). The final and temporary 
regulations relate to the deductions and losses of members and also to 
the carryover and carryback of losses to consolidated and separate 
return years and to the built-in deduction rules.

EFFECTIVE DATE: June 27, 1996.

FOR FURTHER INFORMATION CONTACT: David Friedel [phone] (not a 
toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The final and temporary regulations that are the subject of these 
corrections are under section 1502 of the Internal Revenue Code.

Need for Correction

    As published, the final and temporary regulations (TD 8677) contain 
errors which may prove to be misleading and are in need of 
clarification.

Correction of Publication

    Accordingly, the publication of the final and temporary regulations 
(TD 8677) which are the subject of FR Doc. 96-15823 is corrected as 
follows:

PART 1--[CORRECTED]

    1. On page 33322, column 3, under the authority citation for Part 
1, the entry ``Section 1.1502-1T also issued under 26 U.S.C. 1502'' is 
corrected to read ``Section 1.1502-1 also issued under 26 U.S.C. 
1502''.
    2. On page 33322, column 3, under the authority citation for Part 
1, the

[[Page 47822]]

entry ``Section 1.1502-79T also issued under 26 U.S.C. 1502'' is 
corrected to read ``Section 1.1502-79 also issued under 26 U.S.C. 
1502''.
Cynthia E. Grigsby,
Chief, Regulations Unit, Assistant Chief Counsel (Corporate).
[FR Doc. 96-23087 Filed 9-10-96; 8:45 am]
BILLING CODE 4830-01-U