[Federal Register Volume 71, Number 235 (Thursday, December 7, 2006)]
[Rules and Regulations]
[Page 70875]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-20732]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9296]
RIN 1545-BD60


Credit for Increasing Research Activities; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correcting amendments.

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SUMMARY: This document contains corrections to final regulations (TD 
9296) that were published in the Federal Register on Thursday, November 
9, 2006 (71 FR 65722) relating to the computation and allocation of the 
credit for increasing research activities for members of a controlled 
group of corporations or a group of trades or businesses under common 
control.

DATES: This correction is effective November 9, 2006.

FOR FURTHER INFORMATION CONTACT: Nicole R. Cimino (202) 622-3120 (not a 
toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The final regulations that are the subject of this correction are 
under section 41 of the Internal Revenue Code.

Need for Correction

    As published, final regulations (TD 9296) contain 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 
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 * * *


0
Par. 2. Section 1.41-6 is amended by revising paragraph (j)(2), last 
sentence to read as follows:


Sec.  1.41-6  Aggregation of expenditures.

    (j) * * *
    (2) * * * For taxable years ending on or after May 24, 2005, and 
before November 9, 2006, see Sec.  1.41-6T(d) as contained in 26 CFR 
part 1, revised April 1, 2006.


0
Par. 3. Section 1.41-8 is amended by revising paragraph (b)(5), last 
sentence to read as follows:


Sec.  1.41-8  Special rules for taxable years ending on or after 
November 9, 2006.

    (b) * * *
    (5) * * * For taxable years ending on or after May 24, 2005, and 
before November 9, 2006, see Sec.  1.41-8T(b)(5) as contained in 26 CFR 
part 1, revised April 1, 2006.

LaNita Van Dyke,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel (Procedure and Administration).
 [FR Doc. E6-20732 Filed 12-6-06; 8:45 am]
BILLING CODE 4830-01-P