Internal Revenue Service (IRS), Treasury.
This document contains a correction to Treasury Decision 9048, which was published in the Federal Register on Friday, March 14, 2003 (68 FR 12287) that redetermines the basis of stock of a subsidiary member or a consolidated group immediately prior to certain transfers of such stock and certain deconsolidations of a subsidiary member.
This correction is effective on March 14, 2003.Start Further Info
FOR FURTHER INFORMATION CONTACT:
Aimee K. Meacham at (202) 622-7530 (not a toll-free number).End Further Info End Preamble Start Supplemental Information
The final regulations that are the subject of this correction are under section 1502 of the Internal Revenue Code.
Need for Correction
As published, TD 9048 contains an error which may prove to be misleading and is in need of clarification.Start List of Subjects
List of Subjects in 26 CFR Part 1
- Income taxes
- Reporting and recordkeeping requirements
Correction of PublicationStart Amendment Part
Accordingly, 26 CFR Part 1 is corrected by making the following correcting amendment:End Amendment Part Start Part
PART 1—INCOME TAXESEnd Part Start Amendment Part
Paragraph 1. The authority citation for part 1 continues to read in part as follows:End Amendment Part
Par. 2. Section 1.1502-35T(b)(2)(ii)(B) is amended by removing the word “or” at the end of the paragraph.End Amendment Part Start Signature
LaNita Van Dyke,
Acting Chief, Regulations Unit, Associate Chief Counsel, (Procedure and Administration).
[FR Doc. 03-11591 Filed 5-8-03; 8:45 am]
BILLING CODE 4830-01-P