Skip to Content


Section 1374 Effective Dates; Correction

Document Details

Information about this document as published in the Federal Register.

Published Document

This document has been published in the Federal Register. Use the PDF linked in the document sidebar for the official electronic format.

Start Preamble


Internal Revenue Service (IRS), Treasury.


Correcting amendment.


This document corrects temporary regulations (TD 9170) that were published in the Federal Register on Wednesday, December 22, 2004 (69 FR 76612), that provide guidance concerning the applicability of section 1374 to S corporations that acquire assets in carryover basis transactions from C corporations on or after December 27, 1994, and to certain corporations that terminate S Start Printed Page 5045corporation status and later elect again to become S corporations.


This document is effective on December 22, 2004.

Start Further Info


Stephen R. Cleary, (202) 622-7750 (not a toll-free number).

End Further Info End Preamble Start Supplemental Information



The final and temporary regulations (TD 9170) that is the subject of this correction are under 1374 of the Internal Revenue Code.

Need for Correction

As published, the final and temporary regulations (TD 9170) contains an error that may prove to be misleading and are in need of clarification.

Start List of Subjects

List of Subjects in 26 CFR Parts 1

  • Income Tax
  • Reporting and recordkeeping requirements
End List of Subjects

Correction of Publication

Start Amendment Part

Accordingly, 26 CFR Part 1 is corrected by making the following correcting amendment:

End Amendment Part Start Part


End Part Start Amendment Part

Paragraph 1. The authority citation for part 1 continues to read in part as follows:

End Amendment Part Start Authority

Authority: 26 U.S.C. 7805 * * *

End Authority Start Amendment Part

2. In § 1.1374-8T, the section heading, and paragraphs (a)(1) and (a)(2) are revised to read as follows:

End Amendment Part
transactions (temporary).

(a)(1) (Reserved) For further guidance see § 1.1374-8(a).

(2) Section 1374(d)(8) applies to any § 1.1374(d)(8) transaction, as defined in paragraph (a)(1) of this section, that occurs on or after December 27, 1994, without regard to the date of the corporation's election to be an S corporation under section 1362.

* * * * *
Start Signature

Cynthia E. Grigsby,

Acting Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedures and Administration).

End Signature End Supplemental Information

[FR Doc. 05-1734 Filed 1-31-05; 8:45 am]