Skip to Content

Rule

Elections Regarding Start-Up Expenditures, Corporation Organizational Expenditures, and Partnership Organizational Expenses; 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

AGENCY:

Internal Revenue Service (IRS), Treasury.

ACTION:

Correcting amendment.

SUMMARY:

This document contains corrections to final regulations and removal of temporary regulations (TD 9542) that were published in the Federal Register on Wednesday, August 17, 2011 (76 FR 50887) relating to elections to deduct start-up expenditures, organizational expenditures of corporations, and organizational expenses of partnerships. The American Jobs Creation Act of 2004 amended the Internal Revenue Code to permit the optional deduction of a limited amount of these types of expenses that are paid or incurred after October 22, 2004.

DATES:

This correction is effective on September 15, 2011 and is applicable August 16, 2011.

Start Further Info

FOR FURTHER INFORMATION CONTACT:

R. Matthew Kelley, (202) 622-7900 (not a toll-free number).

End Further Info End Preamble Start Supplemental Information

SUPPLEMENTARY INFORMATION:

Background

The final regulations and removal of temporary regulations that are the subject of this document are under sections 195, 248, and 709 of the Internal Revenue Code.

Need for Correction

As published, the final regulations and removal of temporary regulations (TD 9542) 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 1

End List of Subjects

Correction of Publication

Accordingly, 26 CFR part 1 is corrected by making the following correcting amendments:

Start Part

PART 1—INCOME TAXES

End Part Start Amendment Part

End Amendment Part Start Authority

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

End Authority Start Amendment Part

End Amendment Part
Treatment of organization and syndication costs.
* * * * *

(b) * * *

(4) * * *

* * * * *

Example 2. * * * Partnership X may amortize the remaining $34,800

($36,000 − $1,200 = $34,800) ratably over the remaining 174 months.

* * * * *

Example 5. * * * Partnership X may amortize the remaining $52,200

($54,000 − $1,800 = $ 52,200) ratably over the remaining 174 months.

Example 6. * * * Partnership X may amortize the remaining $435,000

($450,000 − $15,000 = $435,000) ratably over the remaining 174 months.

* * * * *
Start Signature

Diane Williams,

Federal Register Liaison, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration).

End Signature End Supplemental Information

[FR Doc. 2011-23598 Filed 9-14-11; 8:45 am]

BILLING CODE 4830-01-P