[Federal Register Volume 73, Number 53 (Tuesday, March 18, 2008)]
[Rules and Regulations]
[Page 14386]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E8-5333]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9377]
RIN 1545-BF02


Application of Section 338 to Insurance Companies; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correcting amendment.

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SUMMARY: This document contains a correction to final regulations (TD 
9377) that were published in the Federal Register on Wednesday, January 
23, 2008 (73 FR 3868), that apply to a section 197 intangible resulting 
from an assumption reinsurance transaction, and under section 338 that 
apply to reserve increases after a deemed asset sale.

DATES: This correction is effective on March 18, 2008.

FOR FURTHER INFORMATION CONTACT: William T. Sullivan (202) 622-7052 
(not toll-free number).

SUPPLEMENTARY INFORMATION: 

Background

    The final regulations (TD 9377) that is the subject of this 
correction is under section 197 of the Internal Revenue Code.

Need for Correction

    As published, TD 9377 contains an error that may prove to be 
misleading and is in need of clarification.

List of Subjects 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 as 
follows:

     Authority: 26 U.S.C. 7805. * * *


Sec.  1.1060-1  [Corrected]

0
Par. 2. Section 1.1060-1(a)(2)(iii) introductory text, last sentence is 
amended by removing the language ``Sec. Sec.  1.338-11 and 1.338-
11T(d)'' and adding the language ``Sec.  1.338-11'' in its place.

 Cynthia Grigsby,
 Senior Federal Register Liaison Officer, Publications and Regulations 
Branch, Legal Processing Division, Office of Associate Chief Counsel, 
(Procedure and Administration).
 [FR Doc. E8-5333 Filed 3-17-08; 8:45 am]
BILLING CODE 4830-01-P