[Federal Register Volume 80, Number 80 (Monday, April 27, 2015)]
[Rules and Regulations]
[Pages 23237-23238]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-09711]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9715]
RIN 1545-BH31


Regulations Revising Rules Regarding Agency for a Consolidated 
Group; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correcting amendment.

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SUMMARY: This document contains corrections to final regulations (TD 
9715) that were published in the Federal Register on April 1, 2015 (80 
FR 17314). The final regulations are regarding the agent for an 
affiliated group of corporations that files a consolidated return 
(consolidated group).

DATES: This correction is effective on April 27, 2015 and applicable 
April 1, 2015.

FOR FURTHER INFORMATION CONTACT: Gerald Fleming at (202) 317-6975 or 
Richard M. Heinecke at (202) 317-6065 (not a toll free number).

SUPPLEMENTARY INFORMATION: 

Background

    The final regulations (TD 9715) that are the subject of this 
correction is under section 1502 of the Internal Revenue Code.

Need for Correction

    As published, the final regulations (TD 9715) contain errors that 
may prove to be misleading and are in need of clarification.

List of Subjects in 26 CFR Part 1

    Income taxes, Reporting and recordkeeping requirements.

Correction of Publication

    Accordingly, 26 CFR part 1 is corrected by making the following 
correcting amendments:

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 1.1502-77 is amended by revising the second sentence of 
paragraph (c)(1) and the first sentence of paragraph (g) to read as 
follows:


Sec.  1.1502-77  Agent for the group.

* * * * *
    (c) * * * (1) * * * Except as specifically provided otherwise in 
this paragraph (c), any entity that is an agent pursuant to paragraph 
(c)(3) of this section (agent following group structure change), 
paragraph (c)(5) of this section (agent designated by agent terminating 
without default successor), paragraph (c)(6) of this section (agent 
designated by Commissioner), or paragraph (c)(7) of this section (agent 
designated by resigning agent), or any entity subsequently serving as 
agent following such agent, acts as an agent for and under the same 
terms and conditions that apply to a common parent. * * *
* * * * *
    (g) Examples. Unless otherwise indicated, all entities are domestic 
and have a calendar year taxable year, and each of P, S, S-1, S-2, S-3, 
T, U, V, W,

[[Page 23238]]

W-1, Y, Z, and Z-1 is a corporation. * * *
* * * * *

Martin V. Franks,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel (Procedure and Administration).
[FR Doc. 2015-09711 Filed 4-24-15; 8:45 am]
 BILLING CODE 4830-01-P