[Federal Register Volume 76, Number 168 (Tuesday, August 30, 2011)]
[Rules and Regulations]
[Pages 53819-53820]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-22051]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9534]
RIN 1545-BD81


Methods of Accounting Used by Corporations That Acquire the 
Assets of Other Corporations; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to final regulations.

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SUMMARY: This document describes corrections to final regulations (TD 
9534) relating to the methods of accounting, including the inventory 
methods, to be used by corporations that acquire the assets of other 
corporations in certain corporate reorganizations and tax-free 
liquidations. These regulations were published in the Federal Register 
on Monday, August 1, 2011.

DATES: This correction is effective on August 31, 2011.

[[Page 53820]]


FOR FURTHER INFORMATION CONTACT: Cheryl Oseekey, (202) 622-4970 (not a 
toll-free number).

SUPPLEMENTARY INFORMATION: 

Background

    The final regulations (TD 9534) that are the subject of this 
correction are under sections 381 and 446 of the Internal Revenue Code.

Need for Correction

    As published on August 1, 2011 (76 FR 45673), the final regulations 
(TD 9534) contain errors that may prove to be misleading and are in 
need of clarification.

Correction of Publication

    Accordingly, the publication of the final regulations (TD 9534), 
which were the subject of FR Doc. 2011-19256, is corrected as follows:


Sec.  1.381(c)(5)-1  [Corrected]

0
1. On page 45683, column 1, Sec.  1.381(c)(5)-1(b), first line of the 
paragraph, the language ``(b) Definitions. (1) Inventory method.'' is 
corrected to read ``(b) Definitions. For purposes of this section--(1) 
Inventory method.''.

0
2. On page 45685, column 1, Sec.  1.381(c)(5)-1(c)(3) Example (6).(i), 
third sentence of the paragraph, the language ``X Corporation's 
manufacturing business and T Corporation's manufacturing business use, 
the same methods to capitalize costs under section 263A.'' is corrected 
to read ``X Corporation's manufacturing business and T Corporation's 
manufacturing business use the same methods to capitalize costs under 
section 263A.''.

LaNita Van Dyke,
 Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel, (Procedure and Administration).
[FR Doc. 2011-22051 Filed 8-29-11; 8:45 am]
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