[Federal Register Volume 69, Number 88 (Thursday, May 6, 2004)]
[Rules and Regulations]
[Page 25315]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-10223]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9118]
RIN 1545-BC84


Loss Limitation Rules; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correcting amendment.

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SUMMARY: This document contains corrections to TD 9118, which was 
published in the Federal Register on Thursday, March 18, 2004 (69 FR 
12799), relating to certain aspects of the temporary regulations 
addressing the deductibility of losses recognized on dispositions of 
subsidiary stock by members of a consolidated group and to the 
consequences of treating subsidiary stock as worthless.

DATES: This correction is effective on March 18, 2004.

FOR FURTHER INFORMATION CONTACT: Mark Weiss (202) 622-7790 or Lola 
Johnson (202) 622-7550 (not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The temporary regulations (TD 9118) that are the subject of this 
correction are under 1502 of the Internal Revenue Code.

Need for Correction

    As published, TD 9118 contains errors that may prove to be 
misleading and are in need of clarification.

List of Subjects in 26 CFR Part 1

    Income taxes, Reporting and recordkeeping requirements.

Correction of Publication

0
Accordingly, 26 CFR part 1 is corrected by making the following 
correcting amendments:

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 * * *


Sec.  1.1502-35T  [Corrected]

0
Par. 2. Section 1.1502-35T(f)(1), the language ``expired as of the day 
following the last'' is removed and the language ``expired as of the 
beginning of the day following the last'' is added in its place.

0
Par. 3. Section 1.1502-35T(f)(1), the language ``shall be treated as 
expired as of the day'' is removed and the language ``shall be treated 
as expired as of the beginning of the day'' is added in its place.

LaNita Van Dyke,
Acting Chief, Publications and Regulations Branch, Legal Processing 
Division, Associate Chief Counsel (Procedures and Administration).
[FR Doc. 04-10223 Filed 5-5-04; 8:45 am]
BILLING CODE 4830-01-P