[Federal Register Volume 70, Number 57 (Friday, March 25, 2005)]
[Rules and Regulations]
[Page 15227]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 05-5969]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9187]
RIN 1545-BA52


Loss Limitation Rules; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correcting amendment.

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SUMMARY: This document corrects final regulations (TD 9187) that were 
published in the Federal Register on Thursday, March 3, 2005 (70 FR 
10319), that disallows certain losses recognized on sales of subsidiary 
stock by members of a consolidated group.

DATES: This correction is effective on April 4, 2005.

FOR FURTHER INFORMATION CONTACT: Theresa Abell, (202) 622-7700 or 
Martin Huck, (202) 622-7750 (not toll-free numbers).

SUPPLEMENTARY INFORMATION:

Background

    The final and temporary regulations (TD 9187) that is the subject 
of this correction is under sections 337(d) and 1502 of the Internal 
Revenue Code.

Need for Correction

    As published, (TD 9187) contains an error that may prove to be 
misleading and is 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 amendment:

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.  1.1502-20  [Corrected]

    Section 1.1502-20(i)(3)(viii), second sentence, the language ``Any 
reapportionment of a section 382 limitation made pursuant to the 
previous sentence shall have the effects described in paragraphs 
(i)(3)(iii)(D)(ii) and (iii) of this section.'' is removed and the 
language ``Any reapportionment of a section 382 limitation made 
pursuant to the previous sentence shall have the effects described in 
paragraph (i)(3), (iii)(D)(2) and (3) of this section.'' is added in 
its place.

Cynthia E. Grigsby,
Acting Chief, Publications and Regulations Branch, Legal Processing 
Division, Associate Chief Counsel (Procedures and Administration).
[FR Doc. 05-5969 Filed 3-24-05; 8:45 am]
BILLING CODE 4830-01-P