[Federal Register Volume 72, Number 60 (Thursday, March 29, 2007)]
[Rules and Regulations]
[Page 14678]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E7-5603]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9313]
RIN 1545-BG29


Corporate Reorganizations; Additional Guidance on Distributions 
Under Sections 368(a)(1)(D) and 354(b)(1)(B); Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correcting amendment.

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SUMMARY: This document contains correction to temporary regulations (TD 
9313) that were published in the Federal Register on Thursday, March 1, 
2007 (72 FR 9262) providing guidance regarding the qualification of 
certain transactions as reorganizations described in section 
368(a)(1)(D) where no stock and/or securities of the acquiring 
corporation are issued and distributed in the transaction.

DATES: This amendment is effective March 29, 2007.

FOR FURTHER INFORMATION CONTACT: Bruce A. Decker at (202) 622-7550 (not 
a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The temporary regulations that are the subjects of this correction 
are under section 368 of the Internal Revenue Code.

Need for Correction

    As published, temporary regulations (TD 9313) contain 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 
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 1.368-2T is amended by revising paragraph (l)(2)(iv) to 
read as follows:


Sec.  1.368-2T  Definition of terms (temporary).

* * * * *
    (l) * * *
    (2) * * *
    (iv) Exception. This paragraph (l)(2) of this section does not 
apply to a transaction otherwise described in Sec.  1.358-6(b)(2) or 
section 368(a)(1)(G) by reason of section 368(a)(2)(D).
* * * * *

LaNita Van Dyke,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel, (Procedure and Administration).
[FR Doc. E7-5603 Filed 3-28-07; 8:45 am]
BILLING CODE 4830-01-P