[Federal Register Volume 68, Number 244 (Friday, December 19, 2003)]
[Rules and Regulations]
[Pages 70701-70709]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-31238]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Parts 1, 301 and 602

[TD 9100]
RIN 1545-BC62


Guidance Necessary To Facilitate Business Electronic Filing

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Final and temporary regulations.

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SUMMARY: This document contains regulations designed to eliminate 
regulatory impediments to the electronic filing of certain income tax 
returns and other forms. These regulations affect business taxpayers 
who file income tax returns electronically. The text of the temporary 
regulations also serves as the text of the proposed regulations set 
forth in the Proposed Rules section in this issue of the Federal 
Register.

DATES: Effective Date: These regulations are effective December 19, 
2003.
    Applicability Date: These regulations apply with respect to taxable 
years beginning after December 31, 2002. The applicability of 
Sec. Sec.  1.170A-11T, 1.556-2T. 1.565-1T, 1.936-7T, 1.1017-1T, 1.1368-
1T, 1.1377-1T, 1.1502-21T, 1.1502-75T, 1.1503-2T, 1.6038B-1T, and 
301.7701-3T will expire on or before December 18, 2006.

FOR FURTHER INFORMATION CONTACT: Nathan Rosen, (202) 622-4910 (not a 
toll-free number).

SUPPLEMENTARY INFORMATION: 

Paperwork Reduction Act

    These regulations are being issued without prior notice and public 
procedure pursuant to the Administrative Procedure Act (5 U.S.C. 553). 
For this reason, the collection of information contained in these 
regulations has been reviewed and pending receipt and evaluation of

[[Page 70702]]

public comments, approved by the Office of Management and Budget under 
control number 1545-1868. Responses to this collection of information 
are mandatory.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless the collection of 
information displays a valid control number.
    For further information concerning this collection of information, 
and where to submit comments on the collection of information and the 
accuracy of the estimated burden, and suggestions for reducing this 
burden, please refer to the preamble to the cross-referencing notice of 
proposed rulemaking published in the Proposed Rules section of this 
issue of the Federal Register.
    Books and records relating to a collection of information must be 
retained as long as their contents may become material in the 
administration of any internal revenue law. Generally, tax returns and 
tax return information are confidential, as required by 26 U.S.C. 6103.

Background

    This document contains amendments to the Income Tax Regulations (26 
CFR part 1) and the Procedure and Administration Regulations (26 CFR 
part 301) designed to eliminate regulatory impediments to the 
electronic submission of tax returns and other forms filed by 
corporations, partnerships and other businesses.
    In 1998, Congress enacted the Internal Revenue Service 
Restructuring and Reform Act of 1998 (RRA 1998), Public Law 105-206 
(112 Stat. 685) (1998). In relevant part, RRA 1998 states that the 
policy of Congress is to promote the paperless filing of Federal tax 
returns. Section 2001(a) of RRA 1998 sets a long-range goal for the IRS 
to have at least 80 percent of all Federal tax returns filed 
electronically by 2007. Section 2001(b) of RRA 1998 requires the IRS to 
establish a 10-year strategic plan to eliminate barriers to electronic 
filing. On January 30, 2003, the IRS published final regulations (TD 
9040) eliminating a number of regulatory impediments to the electronic 
filing of Form 1040, ``U.S. Individual Income Tax Return.''
    The IRS has identified a number of regulatory provisions that 
impede the ability of business entities to file returns electronically. 
Some of these regulations, for example, impede electronic filing by 
requiring taxpayers to include third-party signatures on their tax 
returns or by requiring taxpayers to attach documents or statements 
generated by a third party. Others require a taxpayer to sign an IRS 
form and file it as an attachment to the taxpayer's income tax return. 
These regulations eliminate the impediments for taxable years beginning 
after December 31, 2002. The regulations generally affect taxpayers who 
must file any of the following forms: Form 926, ``Return by a U.S. 
Transferor of Property to a Foreign Corporation''; Form 972, ``Consent 
of Shareholder To Include Specific Amount in Gross Income''; Form 973, 
``Corporation Claim for Deduction for Consent Dividends''; Form 982, 
``Reduction of Tax Attributes Due to Discharge of Indebtedness (and 
Section 1082 Basis Adjustment)''; Form 1120, ``U.S. Corporation Income 
Tax Return''; Form 1120S, ``U.S. Income Tax Return for an S 
Corporation''; Form 1122, ``Authorization and Consent of Subsidiary 
Corporation To Be Included in a Consolidated Income Tax Return''; Form 
5471, ``Information Return of U.S. Persons With Respect To Certain 
Foreign Corporations''; Form 5712-A, ``Election and Verification of the 
Cost Sharing or Profit Split Method Under Section 936(h)(5)''; and Form 
8832, ``Entity Classification Election.''

Explanation of Provisions

1. Form 926: Return by a U.S. Transferor of Property to a Foreign 
Corporation

    Section 6038B provides that transferors of property to foreign 
corporations must, in certain circumstances, file information returns 
with the Secretary regarding such transactions. Section 1.6038B-
1(b)(1)(i) requires the transferor to file the return on Form 926 as an 
attachment to its income tax return. Under Sec.  1.6038B-1(b)(1)(i) and 
(ii), filers of Form 926 must sign the form and attachments to the form 
are subject to the declaration under penalties of perjury that the 
information submitted is true, correct, and complete. The signature 
requirement impedes electronic filing of the transferor's income tax 
return because Form 926 cannot yet be signed electronically. These 
regulations eliminate the obligation to sign Form 926 and provide, 
instead, that Form 926 and any attachments to the form are verified by 
signing the income tax return with which the form and attachments are 
filed.

2. Form 972: Consent of Shareholder To Include Specific Amount in Gross 
Income

    Section 565 allows a corporation and its shareholders to treat 
certain hypothetical corporate distributions as actual dividends. 
Section 1.565-1(b)(1) requires shareholders to use Form 972 to elect 
such treatment and requires each consenting shareholder (or an 
authorized agent) to sign the form. Section 1.565-1(b)(3) requires the 
corporation to attach the signed Form 972 to its income tax return for 
the taxable year in which it claims the dividends paid deduction for 
the hypothetical dividends. Requiring corporations to attach a signed 
Form 972 impedes electronic filing of their income tax returns because 
third-party signatures cannot be incorporated into an electronic 
return. These regulations provide that an unsigned copy of Form 972 may 
be submitted with the corporation's income tax return if the 
corporation retains the signed original in its records.

3. Form 973: Corporation Claim for Deduction for Consent Dividends

    A corporation uses Form 973 to claim the dividend treatment 
permitted by section 565. Section 1.565-1(b)(3) requires the 
corporation to sign Form 973 under penalties of perjury and submit the 
form with its tax return. This signature requirement impedes electronic 
filing of a corporation's income tax return because Form 973 cannot yet 
be signed electronically. These regulations eliminate the obligation to 
sign Form 973 and provide, instead, that Form 973 is verified by 
signing the income tax return with which the form is filed.

4. Form 982: Reduction of Tax Attributes Due to Discharge of 
Indebtedness (and Section 1082 Basis Adjustment)

    Section 1017 provides for basis reductions when income from 
discharge of indebtedness is excluded from gross income. If a 
partnership has income from discharge of indebtedness, Sec.  1.1017(g) 
permits its partners to request that the partnership reduce the basis 
of partnership depreciable property with respect to the partners. 
Section 1.1017-1(g)(2)(iii)(A) requires a partnership that consents to 
this basis reduction to prepare a statement describing, among other 
things, the amount of the reduction. Section 1.1017-1(g)(2)(iii)(B) 
requires the affected partners to attach a copy of that statement to 
their income tax returns.
    Requiring partners to attach the partnership consent statement 
impedes the electronic filing of their income tax returns because the 
partnership statement cannot yet be incorporated into all electronic 
returns. To remedy this impediment, these regulations eliminate the 
obligation to attach the partnership consent statement and provide, 
instead, that taxpayers must

[[Page 70703]]

retain the consent statement in their records.

5. Form 1120: U.S. Corporation Income Tax Return

    Section 1503 prescribes certain rules for computing tax for 
corporations filing consolidated returns. Section 1.1503-2(g) permits 
dual consolidated losses of dual resident corporations to offset the 
income of domestic affiliates under specified circumstances, including 
entry into an agreement described in Sec.  1.1503-2(g)(2)(i). The 
corporation entering into the agreement must attach the agreement to 
its timely filed U.S. income tax return for the taxable year in which 
the loss is incurred. The agreement must be signed under penalties of 
perjury by the person who signs the income tax return. Section 1.1503-
2(g)(2)(iv)(B)(3)(iii) also requires a successor corporation to file an 
agreement described in Sec.  1.1503-2(g)(2)(i) to prevent recapture of 
the dual consolidated loss in certain circumstances. The new agreement 
must be signed under penalties of perjury by the person who signs the 
income tax return. Section 1.1503-2(g)(2)(vi)(B) requires corporations 
to file annual certifications with respect to dual consolidated losses. 
The annual certification must be signed under penalties of perjury by 
the person who signs the corporation's income tax return. The signature 
requirements in Sec.  1.1503-2(g)(2)(i), (g)(2)(iv)(B)(3)(iii), and 
(g)(2)(vi)(B) impede electronic filing of the corporation's income tax 
return because neither the agreement nor the annual certification can 
be signed electronically. These regulations eliminate the obligations 
under Sec.  1.1503-2(g)(2)(i) and (iv)(B)(3)(iii) to attach a signed 
agreement and provide, instead, that an unsigned copy of the agreement 
may be submitted with the corporation's income tax return if the 
corporation retains the signed original in its records. These 
regulations also eliminate the obligation under Sec.  1.1503-2(g)(2) 
(vi)(B) to sign the annual certification and provide, instead, that the 
annual certification is verified by signing the income tax return with 
which the certification is filed.
    Section 170 addresses the tax deductibility of charitable 
contributions and gifts. Section 1.170A-11(b)(1) provides that, under 
certain conditions, corporations may treat a charitable contribution as 
paid during a taxable year even if the contribution occurs in the 
following taxable year. A corporation claiming a charitable deduction 
for a taxable year under this provision must attach a copy of the 
resolution of the board of directors authorizing the contribution to 
its return for the year. In addition, the corporation must attach a 
declaration, signed under penalties of perjury, that the resolution was 
adopted during the taxable year. See Sec.  1.170A-11(b)(2). Requiring 
taxpayers to attach a signed declaration impedes electronic filing of 
Form 1120 because the declaration cannot be signed electronically. The 
regulations eliminate the requirement of a signed declaration and 
provide, instead, that the declaration is verified by signing the 
return. The regulations also slightly expand the content of the 
declaration by requiring that it state the date on which the board of 
directors authorized the contribution. Requiring taxpayers to attach a 
copy of the resolution authorizing the contribution may also impede 
electronic filing of Form 1120 because including the resolution 
increases the size of the electronic return file in a potentially 
burdensome manner. The regulations eliminate this requirement and 
provide, instead, that the resolution must be retained in the 
taxpayer's records.
    Section 1.1502-21(b)(3)(i) provides that a consolidated group of 
corporations may elect to relinquish carryback treatment with respect 
to a consolidated net operating loss for any consolidated return year. 
The consolidated group elects this treatment by attaching a statement 
to the group's income tax return for the relevant year. The regulations 
require the statement to be signed by the common parent. This signature 
requirement impedes electronic filing of Form 1120 because the 
statement cannot be signed electronically. These regulations eliminate 
the signature requirement and permit the election to be made in an 
unsigned statement.
    Section 1.1502-21(b)(3)(ii)(B) provides that a group of 
corporations acquiring a new member may elect to relinquish part of the 
carryback period with respect to certain net operating losses of the 
new member. The election is made in a statement attached to the group's 
income tax return. The statement must be signed by the common parent, 
the new member, and any other corporation joining the group with the 
new member. This signature requirement impedes electronic filing of 
Form 1120 because third-party signatures cannot be incorporated into an 
electronic return. These regulations eliminate the signature 
requirement and permit the election to be made in an unsigned 
statement.

6. Form 1120S: U.S. Income Tax Return for an S Corporation

    Section 1377 provides that under certain circumstances an S 
Corporation may elect to treat a taxable year as if it consisted of two 
separate taxable years. Section 1.1377-1(b)(5) provides that an S 
Corporation elects this treatment by attaching a signed statement to 
its income tax return. This signature requirement impedes electronic 
filing of Form 1120S because the statement described in Sec.  1.1377-
1(b)(5) cannot be signed electronically. These regulations eliminate 
the signature requirement and permit the election to be made in an 
unsigned statement that is verified by signing the return.
    Section 1.1368-1(g)(2)(i) provides a similar election for purposes 
of determining the treatment of distributions by an S Corporation in 
the event of certain ownership changes. Section 1.1368-1(g)(2)(iii) 
provides that an S Corporation makes this election by attaching a 
statement, signed by an officer of the corporation, to its income tax 
return for the relevant taxable year. This signature requirement 
impedes electronic filing of Form 1120S because the statement described 
in Sec.  1.1368-1(g)(2)(iii) cannot be signed electronically. These 
regulations eliminate the signature requirement and permit the election 
to be made in an unsigned statement that is verified by signing the 
return.
    Section 1.1368-1(f) allows an S corporation to make certain 
elections relating to the source of its distributions. Section 1.1368-
1(f)(5)(iii) provides that an S corporation makes these elections by 
attaching a statement containing specified information to its income 
tax return. An officer of the corporation must sign the statement under 
penalties of perjury. This signature requirement impedes electronic 
filing of Form 1120S because the statement described in Sec.  1.1368-
1(f)(5)(iii) cannot be signed electronically. These regulations 
eliminate the signature requirement and permit the election to be made 
in an unsigned statement that is verified by signing the return.

7. Form 1122: Authorization and Consent of Subsidiary Corporation To Be 
Included in a Consolidated Income Tax Return

    Section 1.1502-75(h)(2) provides that, when an affiliated group of 
corporations files a consolidated return for the first time, each 
subsidiary must consent to the filing by signing Form 1122 and the 
signed consent forms must be attached to the consolidated return. 
Requiring the group to file signed consent forms

[[Page 70704]]

impedes electronic filing of consolidated returns because Form 1122 
cannot yet be signed electronically. These regulations retain the 
requirement that each subsidiary consent to filing a consolidated 
return but eliminate the impediment to electronic filing by permitting 
the group to submit unsigned copies of the consents with its return if 
it retains the signed originals in its records.

8. Form 5471: Information Return of U.S. Persons With Respect to 
Certain Foreign Corporations

    Section 1.556-2(e)(2) provides that certain U.S. shareholders of a 
foreign personal holding company must attach a number of items to their 
income tax returns relating to property the company owns or operates. 
In particular, Sec.  1.556-2(e)(2)(vii) requires certain shareholders 
to attach a copy of the contract, lease or rental agreement covering 
the property. A shareholder attaches these items to Form 5471, and in 
turn attaches that form to its return. Requiring shareholders to attach 
a copy of these documents to an income tax return impedes electronic 
filing because the documents cannot yet be incorporated into all 
electronic returns. These regulations eliminate this requirement and 
provide, instead, that a copy of the contract, lease or rental 
agreement must be retained in the shareholder's records.

9. Form 5712-A: Election and Verification of the Cost Sharing or Profit 
Split Method Under Section 936(h)(5)

    Section 1.936-7(a), Q&A 1 provides that a possessions corporation 
makes the election under section 936(h)(5) to use the cost sharing or 
profit split method by filing a signed Form 5712-A that includes a 
declaration that all affiliated group members have consented to the 
election. The electing corporation attaches the Form 5712-A to Form 
5735, ``Possessions Corporation Tax Credit,'' which in turn must be 
attached to the corporation's income tax return. Requiring taxpayers to 
sign Form 5712-A impedes electronic filing of corporate income tax 
returns because Form 5712-A cannot yet be signed electronically. These 
regulations eliminate the signature requirement and permit the election 
to be made using an unsigned Form 5712-A that is verified by signing 
the return.

10. Form 8832: Entity Classification Election

    An eligible business entity may file Form 8832 to specify the way 
in which it is to be classified for federal tax purposes. The form must 
be signed under penalties of perjury. Section 301.7701-3(c)(1)(ii) 
provides that in certain circumstances the entity must attach a copy of 
Form 8832 to its tax or information returns. The requirement to attach 
a copy of Form 8832 impedes electronic filing of tax and information 
returns because a copy of the signed form cannot yet be incorporated 
into all electronic returns. These regulations provide that the 
requirement to attach a copy of Form 8832 to a return may be satisfied 
with an unsigned copy.

Special Analyses

    It has been determined that this Treasury decision is not a 
significant regulatory action as defined in Executive Order 12866. 
Therefore, a regulatory assessment is not required. It also has been 
determined that section 553(b) of the Administrative Procedure Act (5 
U.S.C. chapter 5) does not apply to these regulations. For the 
applicability of the Regulatory Flexibility Act (5 U.S.C. chapter 6), 
refer to the Special Analyses section of the preamble to the cross-
reference notice of proposed rulemaking published in the Proposed Rules 
section in this issue of the Federal Register. Pursuant to section 
7805(f) of the Code, these temporary and final regulations will be 
submitted to the Chief Counsel for Advocacy of the Small Business 
Administration for comment on their impact on small business.

Drafting Information

    The principal author of these regulations is Nathan Rosen, Office 
of Associate Chief Counsel (Procedure and Administration), 
Administrative Provisions and Judicial Practice Division.

List of Subjects

26 CFR Part 1

    Income taxes, Reporting and recordkeeping requirements.

26 CFR Part 301

    Employment taxes, Estate taxes, Excise taxes, Gift taxes, Income 
taxes, Penalties, Reporting and recordkeeping requirements.

26 CFR Part 602

    Reporting and recordkeeping requirements.

Adoption of Amendments to the Regulations

0
Accordingly, 26 CFR parts 1, 301 and 602 are amended as follows:

PART 1--INCOME TAXES

0
Paragraph 1. The authority citation for part 1 continues to read in 
part as follows:

    Authority: 26 U.S.C. 7805 * * *


0
Par. 2. Section 1.170A-11 is amended by revising paragraph (b)(2) to 
read as follows:


Sec.  1.170A-11  Limitation on, and carryover of, contributions by 
corporations.

* * * * *
    (b) * * *
    (2) [Reserved]. For further guidance see Sec.  1.170A-11T(b)(2).
* * * * *

0
Par. 3. Section 1.170A-11T is added to read as follows:


Sec.  1.170A-11T  Limitation on, and carryover of, contributions by 
corporations (temporary).

    (a) [Reserved]. For further guidance, see Sec.  1.170A-11(a).
    (b) Election by corporations on an accrual method--(1) [Reserved]. 
For further guidance, see Sec.  1.170A-11(b)(1).
    (2) The election must be made at the time the return for the 
taxable year is filed, by reporting the contribution on the return. 
There shall be attached to the return when filed a written declaration 
stating that the resolution authorizing the contribution was adopted by 
the board of directors during the taxable year. For taxable years 
beginning before January 1, 2003, the declaration shall be verified by 
a statement signed by an officer authorized to sign the return that it 
is made under penalties of perjury, and there shall also be attached to 
the return when filed a copy of the resolution of the board of 
directors authorizing the contribution. For taxable years beginning 
after December 31, 2002, the declaration must also include the date of 
the resolution, the declaration shall be verified by signing the 
return, and a copy of the resolution of the board of directors 
authorizing the contribution is a record that the taxpayer must retain 
and keep available for inspection in the manner required by Sec.  
1.6001-1(e).
    (c) through (d) [Reserved]. For further guidance, see Sec.  1.170A-
11(c) through (d).


0
Par. 4. Section 1.556-2 is amended by revising paragraph (e)(2)(vii) 
and adding paragraph (e)(3) to read as follows:


Sec.  1.556-2  Adjustments to taxable income.

* * * * *
    (e) * * *
    (2) * * *

[[Page 70705]]

    (vii) [Reserved]. For further guidance, see Sec.  1.556-
2T(e)(2)(vii) and (3).
* * * * *
    (3) [Reserved]. For further guidance, see Sec.  1.556-2T(e)(3).
* * * * *

0
Par. 5. Section 1.556-2T is added to read as follows:


Sec.  1.556-2T  Adjustments to taxable income (temporary).

    (a) through (e)(2)(vi) [Reserved]. For further guidance, see Sec.  
1.556-2(a) through (e)(2)(vi).
    (e)(2)(vii) In the case of a return for a taxable year beginning 
before January 1, 2003, a copy of the contract, lease, or rental 
agreement;
    (e)(2)(viii) through (xi) [Reserved]. For further guidance see 
Sec.  1.556-2(e)(2)(viii) through (xi).
    (3) If the statement described in Sec.  1.556-2(e)(2) is attached 
to a taxpayer's income tax return for a taxable year beginning after 
December 31, 2002, a copy of the applicable contract, lease or rental 
agreement is not required to be submitted with the return, but must be 
retained by the taxpayer and kept available for inspection in the 
manner required by Sec.  1.6001-1(e).
    (f) [Reserved]. For further guidance, see Sec.  1.556-2(f).

0
Par. 6. Section 1.565-1 is amended by revising paragraph (b)(3) to read 
as follows:


Sec.  1.565-1  General rule.

* * * * *
    (b) * * *
    (3) [Reserved]. For further guidance, see Sec.  1.565-1T(b)(3).
* * * * *

0
Par. 7. Section 1.565-1T is added to read as follows:


Sec.  1.565-1T  General rule (temporary).

    (a) through (b)(2) [Reserved]. For further guidance, see Sec.  
1.565-1(a) through (b)(2).
    (b)(3) A consent may be filed at any time not later than the due 
date of the corporation's income tax return for the taxable year for 
which the dividends paid deduction is claimed. With such return, and 
not later than the due date thereof, the corporation must file Forms 
972 for each consenting shareholder, and a return on Form 973 showing 
by classes the stock outstanding on the first and last days of the 
taxable year, the dividend rights of such stock, distributions made 
during the taxable year to shareholders, and giving all the other 
information required by the form. For taxable years beginning before 
January 1, 2003, the Form 973 filed with the corporation's income tax 
return shall contain or be verified by a written declaration that is 
made under the penalties of perjury and the Forms 972 filed with the 
return must be duly executed by the consenting shareholders. For 
taxable years beginning after December 31, 2002, the Form 973 filed 
with the corporation's income tax return shall be verified by signing 
the return and the Forms 972 filed with the return must be duly 
executed by the consenting shareholders or, if unsigned, must contain 
the same information as the duly executed originals. If the corporation 
submits unsigned Forms 972 with its return for a taxable year beginning 
after December 31, 2002, the duly executed originals are records that 
the corporation must retain and keep available for inspection in the 
manner required by Sec.  1.6001-1(e).
    (c) [Reserved]. For further guidance, see Sec.  1.565-1(c).

0
Par. 8. Section 1.936-7 is amended by:
0
1. Designating the undesignated introductory text as paragraph (a).
0
2. Redesignating paragraphs (a) through (c) as paragraphs (b) through 
(d), respectively.
0
3. Revising newly designated paragraph (b), Q. & A.1.
0
The revision reads as follows:


Sec.  1.936-7  Manner of making election under section 936(h)(5); 
special election for export sales; revocation of election under section 
936(a).

* * * * *
    (b) * * *
    Q. 1. [Reserved]. For further guidance, see Sec.  1.936-7T(b) Q. 1.
    A. 1. [Reserved]. For further guidance, see Sec.  1.936-7T(b) A. 1.
* * * * *

0
Par. 9. Section 1.936-7T is added to read as follows:


Sec.  1.936-7T  Manner of making election under section 936(h)(5); 
special election for export sales; revocation of election under section 
936(a) (temporary).

    (a) [Reserved]. For further guidance, see Sec.  1.936-7 (a).
    (b) Manner of making election.
    Q. 1: How does a possessions corporation make an election to use 
the cost sharing method or profit split method?
    A.1: A possessions corporation makes an election to use the cost 
sharing or profit split method by filing Form 5712-A (``Election and 
Verification of the Cost Sharing or Profit Split Method Under Section 
936(h)(5)'') and attaching it to its tax return. Form 5712-A must be 
filed on or before the due date (including extensions) of the tax 
return of the possessions corporation for its first taxable year 
beginning after December 31, 1982. The electing corporation must set 
forth on the form the name and the taxpayer identification number or 
address of all members of the affiliated group (including foreign 
affiliates not required to file a U.S. tax return). All members of the 
affiliated group must consent to the election. For elections filed with 
respect to taxable years beginning before January 1, 2003, an 
authorized officer of the electing corporation must sign the statement 
of election and must declare that he has received a signed statement of 
consent from an authorized officer, director, or other appropriate 
official of each member of the affiliated group. Elections filed for 
taxable years beginning after December 31, 2002, will incorporate a 
declaration by the electing corporation that it has received a signed 
consent from an authorized officer, director, or other appropriate 
official of each member of the affiliated group and will be verified by 
signing the return. The election is not valid for a taxable year unless 
all affiliates consent. A failure to obtain an affiliate's written 
consent will not invalidate the election out if the possessions 
corporation made a good faith effort to obtain all the necessary 
consents or the failure to obtain the missing consent was inadvertent. 
Subsequently created or acquired affiliates are bound by the election. 
If an election out is revoked under section 936(h)(5)(F)(iii), a new 
election out with respect to that product area cannot be made without 
the consent of the Commissioner. The possessions corporation shall file 
an amended Form 5712-A with its timely filed income tax return to 
reflect any changes in the names or number of the members of the 
affiliated group for any taxable year after the first taxable year to 
which the election out applies. By consenting to the election out, all 
affiliates agree to provide information necessary to compute the cost 
sharing payment under the cost sharing method or combined taxable 
income under the profit split method, and failure to provide such 
information shall be treated as a request to revoke the election out 
under section 936(h)(5)(F)(iii).
    Q. & A. 2 through 8 [Reserved]. For further guidance, see Sec.  
1.936-7(b), Q. & A. 2 through 8.
    (c) and (d) [Reserved]. For further guidance, see Sec.  1.936-7(c) 
and (d).

0
Par. 10. Section 1.1017-1 is amended by revising paragraph 
(g)(2)(iii)(B) to read as follows:

[[Page 70706]]

Sec.  1.1017-1  Basis reductions following a discharge of indebtedness.

* * * * *
    (g) * * *
    (2) * * *
    (iii) * * *
    (B) [Reserved] For further guidance, see Sec.  1.1017-
1T(g)(2)(iii)(B).
* * * * *

0
Par. 11. Section 1.1017-1T is amended by revising paragraphs (c) 
through (i) to read as follows:


Sec.  1.1017-1T  Basis reductions following a discharge of indebtedness 
(temporary).

* * * * *
    (c) through (g)(2)(iii)(A) [Reserved]. For further guidance, see 
Sec.  1.1017-1(c) through (g)(2)(iii)(A).
    (g)(2)(iii)(B) Taxpayer's requirement. For taxable years beginning 
before January 1, 2003, statements described in Sec.  1.1017-
1(g)(2)(iii)(A) must be attached to a taxpayer's timely filed 
(including extensions) Federal income tax return for the taxable year 
in which the taxpayer has COD income that is excluded from gross income 
under section 108(a). For taxable years beginning after December 31, 
2002, taxpayers must retain the statements and keep them available for 
inspection in the manner required by Sec.  1.6001-1(e), but are not 
required to attach the statements to their returns.
    (g)(2)(iv) through (i) [Reserved]. For further guidance, see Sec.  
1.1017-1(g)(2)(iv) through (i).

0
Par. 12. Section 1.1368-1 is amended by revising paragraphs (f)(5)(iii) 
and (g)(2)(iii) to read as follows:


Sec.  1.1368-1  Distributions by S corporations.

* * * * *
    (f) * * *
    (5) * * *
    (iii) [Reserved]. For further guidance, see Sec.  1.1368-
1T(f)(5)(iii).
* * * * *
    (g) * * *
    (2) * * *
    (iii) [Reserved]. For further guidance, see Sec.  1.1368-
1T(g)(2)(iii).
* * * * *

0
Par. 13. Section 1.1368-1T is added to read as follows:


Sec.  1.1368-1T  Distributions by S corporations (temporary).

    (a) through (f)(5)(ii) [Reserved]. For further guidance, see Sec.  
1.1368-1(a) through (f)(5)(ii).
    (f)(5)(iii) Corporate statement regarding elections. A corporation 
makes an election for a taxable year under Sec.  1.1368-1(f) by 
attaching a statement to a timely filed original or amended return 
required to be filed under section 6037 for that taxable year. In the 
statement, the corporation must identify the election it is making 
under Sec.  1.1368-1(f) and must state that each shareholder consents 
to the election. In the case of elections for taxable years beginning 
before January 1, 2003, an officer of the corporation must sign under 
penalties of perjury the statement on behalf of the corporation. In the 
case of elections for taxable years beginning after December 31, 2002, 
the statement described in this paragraph (f)(5)(iii) shall be verified 
by signing the return. A statement of election to make a deemed 
dividend under Sec.  1.1368-1(f) must include the amount of the deemed 
dividend that is distributed to each shareholder.
    (f)(5)(iv) through (g)(2)(ii) [Reserved]. For further guidance, see 
Sec.  1.1368-1(f)(5)(iv) through (g)(2)(ii).
    (g)(2)(iii) Time and manner of making election. A corporation makes 
an election under Sec.  1.1368-1(g)(2)(i) for a taxable year by 
attaching a statement to a timely filed original or amended return 
required to be filed under section 6037 for a taxable year (without 
regard to the election under Sec.  1.1368-1(g)(2)(i)). In the 
statement, the corporation must state that it is electing for the 
taxable year under Sec.  1.1368-1(g)(2)(i) to treat the taxable year as 
if it consisted of separate taxable years. The corporation also must 
set forth facts in the statement relating to the qualifying disposition 
(e.g., sale, gift, stock issuance, or redemption), and state that each 
shareholder who held stock in the corporation during the taxable year 
(without regard to the election under Sec.  1.1368-1(g)(2)(i)) consents 
to this election. For purposes of this election, a shareholder of the 
corporation for the taxable year is a shareholder as described in 
section 1362(a)(2). A single election statement may be filed for all 
elections made under Sec.  1.1368-1(g)(2)(i) for the taxable year. An 
election made under Sec.  1.1368-1(g)(2)(i) of this section is 
irrevocable. In the case of elections for taxable years beginning 
before January 1, 2003, the statement through which a corporation makes 
an election under Sec.  1.1368-1(g)(2)(i) must be signed by an officer 
of the corporation under penalties of perjury. In the case of elections 
for taxable years beginning after December 31, 2002, the statement 
described in the preceding sentence shall be verified by signing the 
return.
    (g)(2)(iv) [Reserved]. For further guidance, see Sec.  1.1368-
1(g)(2)(iv).

0
Par. 14. Section 1.1377-1 is amended by revising paragraph (b)(5)(i)(C) 
to read as follows:


Sec.  1.1377-1  Pro rata share.

* * * * *
    (b) * * *
    (5) * * *
    (i) * * *
    (C) [Reserved]. For further guidance, see Sec.  1.1377-
1T(b)(5)(i)(C).
* * * * *

0
Par. 15. Section 1.1377-1T is added to read as follows:


Sec.  1.1377-1T  Pro rata share (temporary).

    (a) through (b)(5)(i)(B) [Reserved]. For further guidance, see 
Sec.  1.1377-1(a) through (b)(5)(i)(B).
    (b)(5)(i)(C) The signature on behalf of the S corporation of an 
authorized officer of the corporation under penalties of perjury, 
except that for taxable years beginning after December 31, 2002, the 
election statement described in Sec.  1.1377-1(b)(5)(i) shall be 
verified, and the requirement of this paragraph (b)(5)(i)(C) is 
satisfied, by the signature on the Form 1120S filed by the S 
corporation.
    (b)(5)(i)(D) through (c) [Reserved]. For further guidance, see 
Sec.  1.1377-1 (b)(5)(i)(D) through (c).

0
Par. 16. Section 1.1502-21 is amended by revising paragraphs 
(b)(2)(iii), (b)(3)(i) and (b)(3)(ii)(B) to read as follows:


Sec.  1.1502-21  Net operating losses.

* * * * *
    (b) * * *
    (2) * * *
    (iii) [Reserved]. For further guidance, see Sec.  1.1502-
21T(b)(2)(iii).
* * * * *
    (3) * * * (i) [Reserved]. For further guidance, see Sec.  1.1502-
21T(b)(3)(i).
    (ii) * * * (A) * * *
    (b)(3)(ii)(B) [Reserved]. For further guidance, see Sec.  1.1502-
21T(b)(3)(ii)(B).
* * * * *

0
Par. 17. Section 1.1502-21T is amended by revising paragraphs 
(b)(2)(iii) and (b)(3) through (b)(3)(ii)(B) to read as follows:


Sec.  1.1502-21T  Net operating losses (temporary).

* * * * *
    (b)(2)(iii) [Reserved]. For further guidance, see Sec.  1.1502-
21(b)(2)(iii).
* * * * *
    (b)(3) Special rules--(i) Election to relinquish carryback. A group 
may make an irrevocable election under section 172(b)(3) to relinquish 
the entire carryback period with respect to a CNOL for any consolidated 
return year. Except as provided in paragraph (b)(3)(ii)(B) of this 
section, the election may not be made separately for any member 
(whether or not it remains a member), and must be made in a

[[Page 70707]]

separate statement entitled ``THIS IS AN ELECTION UNDER Sec.  1.1502-
21(b)(3)(i) TO WAIVE THE ENTIRE CARRYBACK PERIOD PURSUANT TO SECTION 
172(b)(3) FOR THE [insert consolidated return year] CNOLs OF THE 
CONSOLIDATED GROUP OF WHICH [insert name and employer identification 
number of common parent] IS THE COMMON PARENT''. The statement must be 
filed with the group's income tax return for the consolidated return 
year in which the loss arises. If the consolidated return year in which 
the loss arises begins before January 1, 2003, the statement making the 
election must be signed by the common parent. If the consolidated 
return year in which the loss arises begins after December 31, 2002, 
the election may be made in an unsigned statement.
    (b)(3)(ii) through (b)(3)(ii)(A) [Reserved]. For further guidance, 
see Sec.  1.1502-21 (b)(3)(ii) through (b)(3)(ii)(A).
    (B) Acquisition of member from another consolidated group. If one 
or more members of a consolidated group becomes a member of another 
consolidated group, the acquiring group may make an irrevocable 
election to relinquish, with respect to all consolidated net operating 
losses attributable to the member, the portion of the carryback period 
for which the corporation was a member of another group, provided that 
any other corporation joining the acquiring group that was affiliated 
with the member immediately before it joined the acquiring group is 
also included in the waiver. This election is not a yearly election and 
applies to all losses that would otherwise be subject to a carryback to 
a former group under section 172. The election must be made in a 
separate statement entitled ``THIS IS AN ELECTION UNDER Sec.  1.1502-
21(b)(3)(ii)(B)(2) TO WAIVE THE PRE-[insert first taxable year for 
which the member (or members) was not a member of another group] 
CARRYBACK PERIOD FOR THE CNOLs attributable to [insert names and 
employer identification number of members].'' The statement must be 
filed with the acquiring consolidated group's original income tax 
return for the year the corporation (or corporations) became a member. 
If the year in which the corporation (or corporations) became a member 
begins before January 1, 2003, the statement must be signed by the 
common parent and each of the members to which it applies. If the year 
in which the corporation (or corporations) became a member begins after 
December 31, 2002, the election may be made in an unsigned statement.
* * * * *

0
Par. 18. Section 1.1502-75 is amended by revising paragraph (h)(2) to 
read as follows:


Sec.  1.1502-75  Filing of consolidated returns.

* * * * *
    (h) * * *
    (2) [Reserved]. For further guidance, see Sec.  1.1502-75T(h)(2).
* * * * *
0
Par. 19. Section 1.1502-75T is added to read as follows:


Sec.  1.1502-75T  Filing of consolidated returns (temporary).

    (a) through (h)(1) [Reserved]. For further guidance, see Sec.  
1.1502-75(a) through (h)(1).
    (2) Filing of Form 1122 for first year. If, under the provisions of 
Sec.  1.1502-75 (a)(1) , a group wishes to file a consolidated return 
for a taxable year, then a Form 1122 (``Authorization and Consent of 
Subsidiary Corporation To Be Included in a Consolidated Income Tax 
Return'') must be executed by each subsidiary. For taxable years 
beginning before January 1, 2003, the executed Forms 1122 must be 
attached to the consolidated return for the taxable year. For taxable 
years beginning after December 31, 2002, the group must attach either 
executed Forms 1122 or unsigned copies of the completed Forms 1122 to 
the consolidated return. If the group submits unsigned Forms 1122 with 
its return, it must retain the signed originals in its records in the 
manner required by Sec.  1.6001-1(e). Form 1122 is not required for a 
taxable year if a consolidated return was filed (or was required to be 
filed) by the group for the immediately preceding taxable year.
    (h)(3) through (k) [Reserved]. For further guidance, see Sec.  
1.1502-75(h)(3) through (k).

0
Par. 20. Section 1.1503-2 is amended by revising paragraphs (g)(2)(i), 
(g)(2)(iv)(B)(3)(iii) and (g)(2)(vi)(B) to read as follows:


Sec.  1.1503-2  Dual consolidated loss.

* * * * *
    (g) * * *
    (2) * * *
    (i) [Reserved]. For further guidance, see Sec.  1.1503-2T(g)(2)(i).
* * * * *
    (iv) * * *
    (B) * * *
    (3) * * *
    (iii) [Reserved]. For further guidance, see Sec.  1.1503-
2T(g)(2)(iv)(B)(3)(iii)
* * * * *
    (vi) * * *
    (B) [Reserved]. For further guidance, see Sec.  1.1503-
2T(g)(2)(vi)(B).
* * * * *

0
Par. 21. Section 1.1503-2T is added to read as follows:


Sec.  1.1503-2T  Dual consolidated loss (temporary).


    (a) through (g)(1) [Reserved]. For further guidance, see Sec.  
1.1503-2(a) through (g)(1).
    (2) Elective relief provision--(i) In general. Paragraph (b) of 
this section shall not apply to a dual consolidated loss if the 
consolidated group, unaffiliated dual resident corporation, or 
unaffiliated domestic owner elects to be bound by the provisions of 
Sec.  1.1503-2(g)(2) and this paragraph (g)(2). In order to elect 
relief under Sec.  1.1503-2(g)(2) and this paragraph (g)(2), the 
consolidated group, unaffiliated dual resident corporation, or 
unaffiliated domestic owner must attach to its timely filed U.S. income 
tax return for the taxable year in which the dual consolidated loss is 
incurred an agreement described in paragraph (g)(2)(i)(A) of this 
section. The agreement must be signed under penalties of perjury by the 
person who signs the return. For taxable years beginning after December 
31, 2002, the agreement attached to the income tax return of the 
consolidated group, unaffiliated dual resident corporation or 
unaffiliated domestic owner pursuant to the preceding sentence may be 
an unsigned copy. If an unsigned copy is attached to the return, the 
consolidated group, unaffiliated dual resident corporation, or 
unaffiliated domestic owner must retain the original in its records in 
the manner specified by Sec.  1.6001-1(e). The agreement must include 
the following items, in paragraphs labeled to correspond with the items 
set forth in paragraphs (g)(2)(i)(A) through (F) of this section:
    (A) A statement that the document submitted is an election and an 
agreement under the provisions of Sec.  1.1503-2(g)(2) of the Income 
Tax Regulations.
    (B) The name, address, identifying number, and place and date of 
incorporation of the dual resident corporation, and the country or 
countries that tax the dual resident corporation on its worldwide 
income or on a residence basis, or, in the case of a separate unit, 
identification of the separate unit, including the name under which it 
conducts business, its principal activity, and the country in which its 
principal place of business is located.
    (C) An agreement by the consolidated group, unaffiliated dual 
resident

[[Page 70708]]

corporation, or unaffiliated domestic owner to comply with all of the 
provisions of paragraphs (g)(2)(iii) through (vii) of Sec.  1.1503-2 
and this section.
    (D) A statement of the amount of the dual consolidated loss covered 
by the agreement.
    (E) A certification that no portion of the dual resident 
corporation's or separate unit's losses, expenses, or deductions taken 
into account in computing the dual consolidated loss has been, or will 
be, used to offset the income of any other person under the income tax 
laws of a foreign country.
    (F) A certification that arrangements have been made to ensure that 
no portion of the dual consolidated loss will be used to offset the 
income of another person under the laws of a foreign country and that 
the consolidated group, unaffiliated dual resident corporation, or 
unaffiliated domestic owner will be informed of any such foreign use of 
any portion of the dual consolidated loss.
    (g)(2)(ii) through (iv)(B)(3)(ii) [Reserved] For further guidance, 
see Sec.  1.1503-2(g)(2)(ii) through (iv)(B)(3)(ii).
    (g)(2)(iv)(B)(3)(iii) The unaffiliated domestic corporation or new 
consolidated group must file, with its timely filed income tax return 
for the taxable year in which the event described in Sec.  1.1503-
2(g)(2)(iv)(B)(1) or (2) occurs, an agreement described in paragraph 
(g)(2)(i) of this section (new (g)(2)(i) agreement), whereby it assumes 
the same obligations with respect to the dual consolidated loss as the 
corporation or consolidated group that filed the original (g)(2)(i) 
agreement with respect to that loss. The new (g)(2)(i) agreement must 
be signed under penalties of perjury by the person who signs the return 
and must include a reference to Sec.  1.1503-2(g)(2)(iv)(B)(3)(iii) or 
this paragraph (g)(2)(iv)(B)(3)(iii). For taxable years beginning after 
December 31, 2002, the agreement attached to the return pursuant to the 
preceding sentence may be an unsigned copy. If an unsigned copy is 
attached to the return, the corporation or consolidated group must 
retain the original in its records in the manner specified by Sec.  
1.6001-1(e).
    (g)(2)(iv)(C) through (vi)(A) [Reserved]. For further guidance, see 
Sec.  1.1503-2(g)(2)(iv)(C) through (vi)(A).
    (B) Annual certification. Except as provided in Sec.  1.1503-
2(g)(2)(vi)(C), until and unless Form 1120 or the Schedules thereto 
contain questions pertaining to dual consolidated losses, the 
consolidated group, unaffiliated dual resident corporation, or 
unaffiliated domestic owner must file with its income tax return for 
each of the 15 taxable years following the taxable year in which the 
dual consolidated loss is incurred a certification that the losses, 
expenses, or deductions that make up the dual consolidated loss have 
not been used to offset the income of another person under the tax laws 
of a foreign country. For taxable years beginning before January 1, 
2003, the annual certification must be signed under penalties of 
perjury by a person authorized to sign the agreement described in 
paragraph (g)(2)(i) of this section. For taxable years beginning after 
December 31, 2002, the certification is verified by signing the return 
with which the certification is filed. The certification for a taxable 
year must identify the dual consolidated loss to which it pertains by 
setting forth the taxpayer's year in which the loss was incurred and 
the amount of such loss. In addition, the certification must warrant 
that arrangements have been made to ensure that the loss will not be 
used to offset the income of another person under the laws of a foreign 
country and that the taxpayer will be informed of any such foreign use 
of any portion of the loss. If dual consolidated losses of more than 
one taxable year are subject to the rules of this paragraph 
(g)(2)(vi)(B), the certifications for those years may be combined in a 
single document but each dual consolidated loss must be separately 
identified.
    (g)(2)(vii) through (h) [Reserved]. For further guidance, see Sec.  
1.1503-2(g)(2)(vi) through (h).

0
Par. 22. Section 1.6038B-1 is amended by revising paragraphs (b)(1)(i) 
and (b)(1)(ii) to read as follows:


Sec.  1.6038B-1  Reporting of certain transfers to foreign 
corporations.

* * * * *
    (b)(1)(i) and (ii) [Reserved]. For further guidance, see Sec.  
1.6038B-1T(b)(1)(i) and (ii).
* * * * *

0
Par. 23. Section 1.6038B-1T is amended by revising paragraphs (a) 
through (b)(3) to read as follows:


Sec.  1.6038B-1T  Reporting of certain transactions to foreign 
corporations (temporary).

    (a) [Reserved]. For further guidance, see Sec.  1.6038B-1(a).
    (b) Time and manner of reporting--(1) Ingeneral--(i) Reporting 
procedure. Except for stock or securities qualifying under the special 
reporting rule of Sec.  1.6038B-1(b)(2) , and certain exchanges 
described in section 354 (listed below), any U.S. person that makes a 
transfer described in section 6038B(a)(1)(A), 367(d) or (e), is 
required to report pursuant to section 6038B and the rules of Sec.  
1.6038B-1 and this section and must attach the required information to 
Form 926, ``Return by Transferor of Property to a Foreign 
Corporation.'' For special rules regarding cash transfers made in tax 
years beginning after February 5, 1999, see Sec.  1.6038B-1(b)(3) and 
(g) . For purposes of determining a U.S. transferor that is subject to 
section 6038B, the rules of Sec.  1.367(a)-1T(c) and Sec.  1.367(a)-
3(d) shall apply with respect to a transfer described in section 
367(a), and the rules of Sec.  1.367(a)-1T(c) shall apply with respect 
to a transfer described in section 367(d). Additionally, if in an 
exchange described in section 354, a U.S. person exchanges stock of a 
foreign corporation in a reorganization described in section 
368(a)(1)(E), or a U.S. person exchanges stock of a domestic or foreign 
corporation for stock of a foreign corporation pursuant to an asset 
reorganization described in section 368(a)(1)(C), (D), or (F), that is 
not treated as an indirect stock transfer under section 367(a), then 
the U.S. person exchanging stock is not required to report under 
section 6038B. Notwithstanding any statement to the contrary on Form 
926, the form and attachments must be attached to, and filed by the due 
date (including extensions) of the transferor's income tax return for 
the taxable year that includes the date of the transfer (as defined in 
Sec.  1.6038B-1T(b)(4)). For taxable years beginning before January 1, 
2003, any attachment to Form 926 required under the rules of this 
section is filed subject to the transferor's declaration under 
penalties of perjury on Form 926 that the information submitted is 
true, correct and complete to the best of the transferor's knowledge 
and belief. For taxable years beginning after December 31, 2002, Form 
926 and any attachments shall be verified by signing the income tax 
return with which the form and attachments are filed.
    (ii) Reporting by corporate transferor. For transfers by 
corporations in taxable years beginning before January 1, 2003, Form 
926 must be signed by an authorized officer of the corporation if the 
transferor is not a member of an affiliated group under section 
1504(a)(1) that files a consolidated Federal income tax return and by 
an authorized officer of the common parent corporation if the 
transferor is a member of such an affiliated group. For transfers by 
corporations in taxable years beginning after December 31, 2002, Form 
926 shall be verified by signing the income tax return to which the 
form is attached.

[[Page 70709]]

    (b)(2) through (b)(3) [Reserved]. For further guidance, see Sec.  
1.6038B-1(b)(2) through (b)(3).
* * * * *

PART 301--PROCEDURE AND ADMINISTRATION

0
Par. 24. The authority citation for part 301 continues to read as 
follows:

    Authority: 26 U.S.C. 7805.


0
Par. 25. Section 301.7701-3 is amended by revising paragraph (c)(1)(ii) 
to read as follows:


Sec.  301.7701-3  Classification of certain business entities.

* * * * *
    (c) * * * (1) * * *
    (ii) [Reserved]. For further guidance, see Sec.  301.7701-
3T(c)(1)(ii).
* * * * *

0
Par. 26. Section 301.7701-3T is added to read as follows:


Sec.  301.7701-3T  Classification of certain business entities 
(temporary).

    (a) through (c)(1)(i) [Reserved]. For further guidance, see Sec.  
301.7701-3(a) through (c)(1)(i).
    (ii) Further notification of elections. An eligible entity required 
to file a federal tax or information return for the taxable year for 
which an election is made under Sec.  301.7701-3(c)(1)(i) must attach a 
copy of its Form 8832 to its federal tax or information return for that 
year. If the entity is not required to file a return for that year, a 
copy of its Form 8832 (``Entity Classification Election'') must be 
attached to the federal income tax or information return of any direct 
or indirect owner of the entity for the taxable year of the owner that 
includes the date on which the election was effective. An indirect 
owner of the entity does not have to attach a copy of the Form 8832 to 
its return if an entity in which it has an interest is already filing a 
copy of the Form 8832 with its return. If an entity, or one of its 
direct or indirect owners, fails to attach a copy of a Form 8832 to its 
return as directed in this section, an otherwise valid election under 
Sec.  301.7701-3(c)(1)(i) will not be invalidated, but the non-filing 
party may be subject to penalties, including any applicable penalties 
if the federal tax or information returns are inconsistent with the 
entity's election under Sec.  301.7701-3(c)(1)(i). In the case of 
returns for taxable years beginning after December 31, 2002, the copy 
of Form 8832 attached to a return pursuant to this paragraph (c)(1)(ii) 
is not required to be a signed copy.
    (c)(1)(iii) through (h) [Reserved]. For further guidance, see Sec.  
301.7701-3(c)(1)(iii) through (h).

PART 602--OMB CONTROL NUMBERS UNDER THE PAPERWORK REDUCTION ACT

0
Par. 27. The authority citation for part 602 continues to read in part 
as follows:

    Authority: 26 U.S.C. 7805 * * *


0
Par. 28. In Sec.  602.101, paragraph (b) is amended by adding the 
following entry in numerical order to the table to read as follows:


Sec.  602.101  OMB Control numbers.

* * * * *
    (b) * * *

------------------------------------------------------------------------
                                                             Current OMB
     CFR part or section where identified and described      control No.
------------------------------------------------------------------------
 
                                * * * * *
1.170A-11T.................................................    1545-1868
 
                                * * * * *
------------------------------------------------------------------------


Robert E. Wenzel,
Deputy Commission for Services and Enforcement.
    Approved: December 2, 2003.
Gregory Jenner,
Deputy Assistant Secretary of the Treasury (Tax Policy).
[FR Doc. 03-31238 Filed 12-18-03; 8:45 am]
BILLING CODE 4830-01-P