[Federal Register Volume 70, Number 131 (Monday, July 11, 2005)]
[Proposed Rules]
[Page 39695]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 05-13381]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-102144-04]
RIN 1545-BD10


Dual Consolidated Loss Regulations; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to notice of proposed rulemaking.

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SUMMARY: This document contains corrections to a notice of proposed 
rulemaking and notice of public hearing that was published in the 
Federal Register on Tuesday, May 24, 2005 (70 FR 29868). The proposed 
regulations provide guidance regarding dual consolidated loss issues, 
including exceptions to the general prohibition against using a dual 
consolidated loss to reduce the taxable income of any other member of 
the affiliated group.

FOR FURTHER INFORMATION CONTACT: Kathryn T. Holman, (202) 622-3840 (not 
a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The notice of proposed rulemaking (REG-102144-04) that is the 
subject of these corrections are under sections 1503, 953 and 367 of 
the Internal Revenue Code.

Need for Correction

    As published, the notice of proposed rulemaking and notice of 
public hearing (REG-102144-04) contains errors that may prove to be 
misleading and are in need of clarification.

Correction of Publication

    Accordingly, the notice of proposed rulemaking and notice of public 
hearing (REG-102144-04), that was the subject of FR Doc. 05-10160, is 
corrected as follows:
    1. On page 29869, column 1, in the preamble under the paragraph 
heading ``Background'', paragraph 3 from the top of the column, line 5, 
the language ``as if such unit where a wholly owned'' is corrected to 
read ``as if such unit were a wholly owned''


Sec.  1.1503(d)-4  [Corrected]

    2. On page 29897, column 2, ``Sec.  1503(d)-4 (i)(1), line 6, the 
language, ``through (ix) of this section, including'' is corrected to 
read ``through (viii) of this section, including''


Sec.  1.1503(d)-5  [Corrected]

    3. On page 29903, column 2, Sec.  1.1503(d)-5(c), paragraph (i), of 
Example 34., the language, ``its worldwide income Fx, a an 
unrelated'' is corrected to read ``its worldwide income, Fx, 
an unrelated''

Cynthia Grigsby,
Acting Chief, Publications and Regulations Branch, Legal Processing 
Division, Associate Chief Counsel, (Procedure and Administration).
[FR Doc. 05-13381 Filed 7-8-05; 8:45 am]
BILLING CODE 4830-01-P