[Federal Register Volume 72, Number 79 (Wednesday, April 25, 2007)]
[Rules and Regulations]
[Pages 20424-20425]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E7-7780]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9315]
RIN 1545-BD10


Dual Consolidated Loss Regulations; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

[[Page 20425]]


ACTION: Correction to final regulations.

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SUMMARY: This document contains a correction to final regulations (TD 
9315) that were published in the Federal Register on Monday, March 19, 
2007 (72 FR 12902) regarding dual consolidated losses. Section 1503(d) 
generally provides that a dual consolidated loss of a dual resident 
corporation cannot reduce the taxable income of any other member of the 
affiliated group unless, to the extent provided in regulations, the 
loss does not offset the income of any foreign corporation.

DATES: This correction is effective April 25, 2007.

FOR FURTHER INFORMATION CONTACT: Jeffrey P. Cowan, (202) 622-3860 (not 
a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The correction notice that is the subject of this document is under 
section 1503(d) of the Internal Revenue Code.

Need for Correction

    As published, final regulations (TD 9315) contain an error that may 
prove to be misleading and is in need of clarification.

Correction of Publication

    Accordingly, the publication of the final regulations (TD 9315), 
which was the subject of FR Doc. E7-4618, is corrected as follows:
    On page 12904, column 1, in the preamble, under the paragraph 
heading ``C. Elimination of the Consistency Rule'', third line from the 
bottom of the paragraph, the language ``application of the dual 
consolidated'' is corrected to read ``application of the dual 
consolidated loss''.

LaNita Van Dyke
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel, (Procedure and Administration).
[FR Doc. E7-7780 Filed 4-24-07; 8:45 am]
BILLING CODE 4830-01-P