[Federal Register Volume 74, Number 52 (Thursday, March 19, 2009)]
[Rules and Regulations]
[Page 11644]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-5950]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9441]
RIN 1545-BI46


Section 482: Methods To Determine Taxable Income in Connection 
With a Cost Sharing Arrangement; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correcting amendment.

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SUMMARY: This document contains a correction to a correcting amendment 
for final and temporary regulations (TD 9441) that were published in 
the Federal Register on Thursday, March 5, 2009 (74 FR 9570) providing 
further guidance and clarification regarding methods under section 482 
to determine taxable income in connection with a cost sharing 
arrangement in order to address issues that have arisen in 
administering the current regulations. The temporary regulations affect 
domestic and foreign entities that enter into cost sharing arrangements 
described in the temporary regulations.

DATES: This correction is effective March 19, 2009, and is applicable 
on January 5, 2009.

FOR FURTHER INFORMATION CONTACT: Kenneth P. Christman, (202) 435-5265 
(not a toll-free number).

SUPPLEMENTARY INFORMATION: 

Background

    The final and temporary regulations that are the subject of this 
document are under sections 367 and 482 of the Internal Revenue Code.

Need for Correction

    As published, final and temporary regulations (TD 9441) contains 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 
correcting amendment:

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 1.482-0T is amended by removing and reserving the entry 
of Sec.  1.482-7T(h)(3)(vi)(B) and revising the entry of Sec.  1.482-
7T(i)(6)(vi)(B) to read as follows:


Sec.  1.482-0T  Outline of regulations under section 482 (temporary).

* * * * *


Sec.  1.482-7T  Methods to determine taxable income in connection with 
a cost sharing arrangement (temporary).

* * * * *
    (i) * * *
    (6) * * *
    (vi) * * *
    (B) Circumstances in which Periodic Trigger deemed not to occur.
* * * * *

LaNita Van Dyke,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel (Procedure and Administration).
 [FR Doc. E9-5950 Filed 3-18-09; 8:45 am]
BILLING CODE 4830-01-P