[Federal Register Volume 85, Number 158 (Friday, August 14, 2020)]
[Rules and Regulations]
[Page 49595]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-16383]



[[Page 49595]]

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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9885]
RIN 1545-BO56


Base Erosion and Anti-Abuse Tax; Correcting Amendment

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correcting amendments.

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SUMMARY: This document contains corrections to final regulations (TD 
9885) that were published in the Federal Register on Friday, December 
6, 2019. The final regulations implementing the base erosion and anti-
abuse tax, designed to prevent the reduction of tax liability by 
certain large corporate taxpayers through certain payments made to 
foreign related parties and certain tax credits.

DATES: 
    Effective date: The final regulations are effective on August 14, 
2020.
    Applicability date: December 6, 2019.

FOR FURTHER INFORMATION CONTACT: Sarah Hoyt at (202) 317-6848 or Julie 
Wang at (202) 317-6975 (not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The final regulations (TD 9885) that are the subject of this 
correction are issued under Sec.  1.1.502-59A of the Internal Revenue 
Code.

Need for Correction

    As published, December 6, 2019 (84 FR 66968) the final regulations 
(TD 9885; FR DOC. 2019-25744) contains an error that needs to be 
corrected.

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 * * *


Sec.  1.1.502-59A   [Transferred]

0
Par. 2. Section 1.1502-59A is amended by transferring the section 
underneath the undesignated heading ``Special Taxes and Taxpayers'' and 
following Sec.  1.1502-55.
* * * * *

Martin V. Franks,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel (Procedure and Administration).
[FR Doc. 2020-16383 Filed 8-13-20; 8:45 am]
BILLING CODE 4830-01-P