Internal Revenue Service (IRS), Treasury.
Correction to final and temporary regulations.
This document contains a correction to final and temporary regulations (TD 9535), that were published in the Federal Register on Monday, July 18, 2011. These regulations provide guidance relating to the determination of the amount of taxes paid for purposes of the foreign tax credit. These regulations address certain highly structured transactions that produce inappropriate foreign tax credit results. The regulations affect individuals and corporations that claim direct and indirect foreign tax credits.
This correction is effective August 30, 2011, and is applicable beginning July 18, 2011.Start Further Info
FOR FURTHER INFORMATION CONTACT:
Jeffrey Cowan, (202) 622-3850 (not a toll-free number).End Further Info End Preamble Start Supplemental Information
The final and temporary regulations (TD 9535) that is the subject of this correction are under section 901 of Internal Revenue Code.
Need for Correction
As published, TD 9535 contains an error that may prove to be misleading and is in need of clarification.
Correction of Publication
On page 42042, column 3, in the preamble under the caption “K. Effective Date”, line 5, the language, “or after July 17, 2011.” is corrected to read “or after July 13, 2011.”.Start Signature
Treena V. Garrett,
Federal Register Liaison, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration).
[FR Doc. 2011-22064 Filed 8-29-11; 8:45 am]
BILLING CODE 4830-01-P