[Federal Register Volume 74, Number 189 (Thursday, October 1, 2009)]
[Proposed Rules]
[Pages 50758-50759]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-23645]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-139068-08]
RIN 1545-BI31


Modification to Consolidated Return Regulation Permitting an 
Election To Treat a Liquidation of a Target, Followed by a 
Recontribution to a New Target, as a Cross-Chain Reorganization; 
Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to a notice of proposed rulemaking by cross-
reference to temporary regulations.

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SUMMARY: This document contains corrections to a notice of proposed 
rulemaking by cross-reference to temporary regulations (REG-139068-08) 
that were published in the Federal Register on Friday, September 4, 
2009 (74 FR 45789) modifying the election under which a consolidated 
group can avoid immediately taking into account

[[Page 50759]]

an intercompany item after the liquidation of a target corporation. 
This modification was made necessary in light of the regulations under 
section 368 that were issued in October 2007 addressing transfers of 
assets or stock following a reorganization.

FOR FURTHER INFORMATION CONTACT: Mary W. Lyons, (202) 622-7930 (not a 
toll-free number).

SUPPLEMENTARY INFORMATION: 

Background

    A notice of proposed rulemaking by cross-reference to temporary 
regulations that is the subject of this document is under section 1502 
of the Internal Revenue Code.

Need for Correction

    As published, a notice of proposed rulemaking by cross-reference to 
temporary regulations (REG-139068-08) contains errors that may prove to 
be misleading and are in need of clarification.

Correction of Publication

    Accordingly, the publication of a notice of proposed rulemaking by 
cross-reference to temporary regulations (REG-139068-08), which was the 
subject of FR Doc. E9-21323, is corrected as follows:


Sec.  1.1502-13  [Corrected]

    1. On page 45791, column 1, paragraph (f)(5)(ii)(B)(1), lines 2 and 
3, the language ``amendments to Sec.  1.1502-13(B)(1) is the same as 
the text of Sec.  1.1502-13T(B)(1)'' is corrected to read ``amendments 
to Sec.  1.1502-13(f)(5)(ii)(B)(1) is the same as the text of Sec.  
1.1502-13T(f)(5)(ii)(B)(1)''.
    2. On page 45791, column 1, paragraph (f)(5)(ii)(B)(2), lines 2 and 
3, the language ``amendments to Sec.  1.1502-13(B)(2) is the same as 
the text of Sec.  1.1502-13T(B)(2)'' is corrected to read ``amendments 
to Sec.  1.1502-13(f)(5)(ii)(B)(2) is the same as the text of Sec.  
1.1502-13T(f)(5)(ii)(B)(2)''.
    3. On page 45791, column 1, paragraph (f)(5)(ii)(F), lines 2 and 3, 
the language ``amendments to Sec.  1.1502-13(F) is the same as the text 
of Sec.  1.1502-13T(F)'' is corrected to read ``amendments to Sec.  
1.1502-13(f)(5)(ii)(F) is the same as the text of Sec.  1.1502-
13T(f)(5)(ii)(F)''.

LaNita Van Dyke,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel (Procedure and Administration).
[FR Doc. E9-23645 Filed 9-30-09; 8:45 am]
BILLING CODE 4830-01-P