Internal Revenue Service (IRS), Treasury.
This document contains corrections to temporary regulations (TD 9330) that were published in the Federal Register on Thursday, June 14, 2007 (72 FR 32792) applying to corporations that have undergone ownership changes within the meaning of section 382. These regulations provide guidance regarding the treatment of prepaid income under the built-in gain provisions of section 382(h).
These corrections are effective August 1, 2007.Start Further Info
FOR FURTHER INFORMATION CONTACT:
Keith Stanley at (202) 622-7750 (not a toll-free number).End Further Info End Preamble Start Supplemental Information
The temporary regulations that are the subject of this document are under section 382 of the Internal Revenue Code.
Need for Correction
As published, temporary regulations (TD 9330) contain errors that may prove to be misleading and are 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
(b) * * *
(2) The applicability of this section expires on June 14, 2010.
End Amendment Part Start Signature
LaNita Van Dyke,
Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration).
[FR Doc. E7-14797 Filed 7-31-07; 8:45 am]
BILLING CODE 4830-01-P