Internal Revenue Service (IRS), Treasury.
This document corrects final and temporary regulations (TD 9257) that were published in the Federal Register on Monday, April 10, 2006 (71 FR 17990) applying to a deemed sale or acquisition of an insurance company's assets pursuant to an election under section 338 of the Internal Revenue Code, to a sale or acquisition of an insurance trade or business subject to section 1060, and to the acquisition of insurance contracts through assumption reinsurance.
This correction is effective April 10, 2006.Start Further Info
FOR FURTHER INFORMATION CONTACT:
Mark Weiss, (202) 622-7790 (not a toll-free number).End Further Info End Preamble Start Supplemental Information
The final and temporary regulations (TD 9257) that are the subjects of this correction are under sections 197, 338, 381, and 1060 of the Internal Revenue Code.
Need for Correction
As published, TD 9257 contains an error that may prove to be misleading and is in need of clarification.Start List of Subjects
List of Subjects in 26 CFR Part 1End List of Subjects
Correction of PublicationStart Amendment Part
Accordingly,End Amendment Part Start Part
PART 1—INCOME TAXESEnd Part Start Amendment Part
End Amendment Part Start Amendment Part
End Amendment Part
(d) * * *
(3) * * *
(ii) * * *
(2) B equals old target's undiscounted unpaid losses (determined under section 846(b)(1) as of the close of the acquisition date;
Guy R. Traynor,
Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel, (Procedure and Administration).
[FR Doc. 06-4272 Filed 5-8-06; 8:45 am]
BILLING CODE 4830-01-P