Guidance Regarding the Treatment of Stock of a Controlled Corporation Under Section 355(a)(3)(B); Correction, 3420-3421 [E9-1109]

Download as PDF 3420 Federal Register / Vol. 74, No. 12 / Wednesday, January 21, 2009 / Rules and Regulations 4 percent as is required to meet U.S. No. 1 Institutional grade. Grapes meeting these quality requirements shall not be marked ‘‘Institutional Pack,’’ but may be marked ‘‘DGAC No. 1 Institutional.’’ (i) * * * (ii) Grapes of the Flame Seedless variety shall meet the minimum berry size requirement of ten-sixteenths of an inch (1.5875 centimeters) and shall be considered mature if the juice meets or exceeds 16.5 percent soluble solids, or the juice contains not less than 15 percent soluble solids and the soluble solids are equal to or in excess of 20 parts to every part acid contained in the juice, in accordance with applicable sampling and testing procedures specified in sections 1436.3, 1436.5, 1436.6, 1436.7, 1436.12, and 1436.17 of Article 25 of Title 3: California Code of Regulations (CCR). * * * * * (3) All regulated varieties of grapes offered for importation shall be subject to the grape import requirements contained in this section effective April 10 through July 10. * * * * * temporary regulations also serves as the text of the proposed regulations set forth in the notice of proposed rulemaking on this subject in the Proposed Rules section in this issue of the Federal Register. DATES: Effective Date: This correction is effective January 21, 2009, and is applicable on December 15, 2008. FOR FURTHER INFORMATION CONTACT: Russell P. Subin, (202) 622–7790 (not a toll-free number). SUPPLEMENTARY INFORMATION: Background Need for Correction List of Subjects in 26 CFR Part 1 Guidance Regarding the Treatment of Stock of a Controlled Corporation Under Section 355(a)(3)(B); Correction Income taxes, Reporting and recordkeeping requirements. BILLING CODE 3410–02–P PART 1—INCOME TAXES Accordingly, 26 CFR part 1 is corrected by making the following correcting amendments: Paragraph 1. The authority citation for part 1 is amended by revising the entries to read as follows: ■ 26 CFR Part 1 Authority: 26 U.S.C. 7805 * * * Section 1.355–2T(g) and (i) are also issued under 26 U.S.C. 355(b)(3)(D). * * * [TD 9435] ■ RIN 1545–BH61 Par. 2. Section 1.355–1 is amended by revising the last two sentences of paragraph (a) to read as follows: Guidance Regarding the Treatment of Stock of a Controlled Corporation Under Section 355(a)(3)(B); Correction § 1.355–1 Distribution of stock and securities of a controlled corporation. Internal Revenue Service (IRS), Treasury. ACTION: Correcting amendment. jlentini on PROD1PC65 with RULES SUMMARY: This document contains corrections to final and temporary regulations (TD 9435) that were published in the Federal Register on Monday, December 15, 2008 (73 FR 75946) providing guidance regarding the distribution of stock of a controlled corporation acquired in a transaction described in section 355(a)(3)(B) of the Internal Revenue Code. This action is necessary in light of amendments to section 355(b). These temporary regulations will affect corporations and their shareholders. The text of these VerDate Nov<24>2008 16:09 Jan 16, 2009 Jkt 217001 Internal Revenue Service 26 CFR Part 1 ■ AGENCY: DEPARTMENT OF THE TREASURY As published, final and temporary regulations (TD 9435) contains errors that may prove to be misleading and are in need of clarification. Correction of Publication Internal Revenue Service LaNita Van Dyke, Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel, (Procedure and Administration). [FR Doc. E9–1120 Filed 1–16–09; 8:45 am] BILLING CODE 4830–01–P The final and temporary regulations that are the subject of this document are under section 355 of the Internal Revenue Code. Dated: January 14, 2009. James E. Link, Administrator, Agricultural Marketing Service. [FR Doc. E9–1139 Filed 1–16–09; 8:45 am] DEPARTMENT OF THE TREASURY (i) * * * (1) * * * However, except as provided in paragraph (i)(2) of this section, paragraphs (g)(1) through (g)(5) of this section do not apply to any distribution occurring after December 15, 2008, that is pursuant to a transaction which is— * * * * * (a) * * * This section and §§ 1.355– 2 through 1.355–4, other than § 1.355– 2(g) and (i) and § 1.355–2T, do not reflect the amendments to section 355 made by the Revenue Act of 1987, the Technical and Miscellaneous Revenue Act of 1988, and the Tax Technical Corrections Act of 2007. For the applicability date of §§ 1.355–2T(g), 1.355–5, 1.355–6, and 1.355–7, see §§ 1.355–2T(i), 1.355–5(e), 1.355–6(g), and 1.355–7(k), respectively. * * * * * ■ Par. 3. Section 1.355–2T is amended by revising the last sentence of paragraph (i)(1) to read as follows: § 1.355–2T Limitations (temporary). * * PO 00000 * Frm 00026 * Fmt 4700 * Sfmt 4700 [TD 9435] RIN 1545–BH61 AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Correction to final and temporary regulations. SUMMARY: This document contains corrections to final and temporary regulations (TD 9435) that were published in the Federal Register on Monday, December 15, 2008 (73 FR 75946) providing guidance regarding the distribution of stock of a controlled corporation acquired in a transaction described in section 355(a)(3)(B) of the Internal Revenue Code. This action is necessary in light of amendments to section 355(b). These temporary regulations will affect corporations and their shareholders. DATES: Effective Date: This correction is effective January 21, 2009, and is applicable on December 15, 2008. FOR FURTHER INFORMATION CONTACT: Russell P. Subin, (202) 622–7790 (not a toll-free number). SUPPLEMENTARY INFORMATION: Background The final and temporary regulations that are the subject of this document are under section 355 of the Internal Revenue Code. Need for Correction As published, final and temporary regulations (TD 9435) contains errors that may prove to be misleading and are in need of clarification. E:\FR\FM\21JAR1.SGM 21JAR1 Federal Register / Vol. 74, No. 12 / Wednesday, January 21, 2009 / Rules and Regulations Correction of Publication Accordingly, the publication of the final and temporary regulations (TD 9435), which was the subject of FR Doc. E8–29544, is corrected as follows: ■ 1. On page 75947, column 1, in the preamble, under the paragraph heading ‘‘Background’’, second paragraph of the column, third line from the bottom of the paragraph, the language ‘‘respective corporation is not the’’ is corrected to read ‘‘corporation is not the’’. ■ 2. On page 75949, column 1, in the preamble, under the paragraph heading ‘‘B. Issuances of Controlled Stock Outside the Dunn Trust or Predecessor Context’’, first paragraph, ninth line, the language ‘‘442, (1978–2 CB 143) (distributing’’ is corrected to read ‘‘442 (1978–2 CB 143) (distributing’’. ■ 3. On page 75949, column 2, in the preamble, under the paragraph heading ‘‘C. Redemptions of Controlled Stock’’, second paragraph of the column, twelfth line, the language ‘‘distributing, and generally no additional’’ is corrected to read ‘‘distributing and generally no additional’’. ■ 4. On page 75949, column 3, in the preamble, under the paragraph heading ‘‘Effective/Applicability Date’’, seventh line, the language ‘‘occurring after December 15, 2008 that’’ is corrected to read ‘‘occurring after December 15, 2008, that’’. ■ LaNita Van Dyke, Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration). [FR Doc. E9–1109 Filed 1–16–09; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 31 [TD 9440] RIN 1545–BI39 AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Correcting amendment. This document contains corrections to final and temporary SUMMARY: jlentini on PROD1PC65 with RULES DATES: Effective Date: This correction is effective January 21, 2009, and is applicable on December 29, 2008. FOR FURTHER INFORMATION CONTACT: Audra Dineen, (202) 622–4910 (not a toll-free number). SUPPLEMENTARY INFORMATION: Background This document contains corrections to final and temporary regulations (TD 9440) that were published in the Federal Register on Monday, December 29, 2008 (73 FR 79354) relating to the annual filing of Federal employment tax returns and requirements for employment tax deposits. The final and temporary regulations that are the subject of this document are under sections 6011 and 6302 of the Internal Revenue Code. These temporary regulations generally allow certain employers to file a Form 944, ‘‘Employer’s ANNUAL Federal Tax Return’’, rather than Form 941, ‘‘Employer’s QUARTERLY Federal Tax Return’’. In addition to rules related to Form 944, the temporary regulations provide an additional method for employers who file Form 941 to determine whether the amount of accumulated employment taxes is considered de minimis. The portions of this document that are final regulations provide necessary cross-references to the temporary regulations. Need for Correction Employer’s Annual Federal Tax Return and Modifications to the Deposit Rules; Correction VerDate Nov<24>2008 regulations (TD 9440) that were published in the Federal Register on Monday, December 29, 2008, relating to the annual filing of Federal employment tax returns and requirements for employment tax deposits. These temporary regulations relate to sections 6011 and 6302 of the Internal Revenue Code concerning reporting and paying income taxes withheld from wages and reporting and paying taxes under the Federal Insurance Contributions Act (FICA) (collectively, ‘‘employment taxes’’). 17:32 Jan 16, 2009 Jkt 217001 As published, final and temporary regulations (TD 9440) contain errors that may prove to be misleading and are in need of clarification. List of Subjects in 26 CFR Part 31 Employment taxes, Income taxes, Penalties, Pensions, Railroad retirement, Reporting and recordkeeping PO 00000 Frm 00027 Fmt 4700 Sfmt 4700 3421 requirements, Social security, Unemployment compensation. Correction of Publication Accordingly, 26 CFR part 31 is corrected by making the following correcting amendments: ■ PART 31—EMPLOYMENT TAXES AND COLLECTION OF INCOME TAX AT SOURCE Paragraph 1. The authority citation for part 31 continues to read, in part, as follows: ■ Authority: 26 U.S.C. 7805 * * * Par. 2. Section 31.6302–0T is amended by revising the entry for § 31.6302–1T(d) Example 6. to read as follows: ■ § 31.6302–0T (temporary). * * * Table of contents * * § 31.6302–1T Federal tax deposit rules for withheld income taxes and taxes under the Federal Insurance Contributions Act (FICA) attributable to payments made after December 31, 1992 (temporary). * * * (d) * * * * * Example 6. Extension of time to deposit for employers who filed Form 944 for the preceding year satisfied. * * * * * ■ Par. 3. Section 31.6302–1T is amended by revising the last sentence of paragraph (d) Example 6. to read as follows: § 31.6302–1T Federal tax deposit rules for withheld income taxes and taxes under the Federal Insurance Contributions Act (FICA) attributable to payments made after December 31, 1992 (temporary). * * * (d) * * * * * Example 6. * * * Pursuant to § 31.6302– 1T(c)(6), F will be deemed to have timely deposited the employment taxes due for January 2007, and, thus, the IRS will not impose a failure-to-deposit penalty under section 6656 for that month. * * * * * LaNita Van Dyke, Chief, Publications and Regulations Branch Legal Processing Division, Associate Chief Counsel, (Procedure and Administration). [FR Doc. E9–1097 Filed 1–16–09; 8:45 am] BILLING CODE 4830–01–P E:\FR\FM\21JAR1.SGM 21JAR1

Agencies

[Federal Register Volume 74, Number 12 (Wednesday, January 21, 2009)]
[Rules and Regulations]
[Pages 3420-3421]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-1109]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9435]
RIN 1545-BH61


Guidance Regarding the Treatment of Stock of a Controlled 
Corporation Under Section 355(a)(3)(B); Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to final and temporary regulations.

-----------------------------------------------------------------------

SUMMARY: This document contains corrections to final and temporary 
regulations (TD 9435) that were published in the Federal Register on 
Monday, December 15, 2008 (73 FR 75946) providing guidance regarding 
the distribution of stock of a controlled corporation acquired in a 
transaction described in section 355(a)(3)(B) of the Internal Revenue 
Code. This action is necessary in light of amendments to section 
355(b). These temporary regulations will affect corporations and their 
shareholders.

DATES: Effective Date: This correction is effective January 21, 2009, 
and is applicable on December 15, 2008.

FOR FURTHER INFORMATION CONTACT: Russell P. Subin, (202) 622-7790 (not 
a toll-free number).

SUPPLEMENTARY INFORMATION: 

Background

    The final and temporary regulations that are the subject of this 
document are under section 355 of the Internal Revenue Code.

Need for Correction

    As published, final and temporary regulations (TD 9435) contains 
errors that may prove to be misleading and are in need of 
clarification.

[[Page 3421]]

Correction of Publication

0
Accordingly, the publication of the final and temporary regulations (TD 
9435), which was the subject of FR Doc. E8-29544, is corrected as 
follows:
0
1. On page 75947, column 1, in the preamble, under the paragraph 
heading ``Background'', second paragraph of the column, third line from 
the bottom of the paragraph, the language ``respective corporation is 
not the'' is corrected to read ``corporation is not the''.
0
2. On page 75949, column 1, in the preamble, under the paragraph 
heading ``B. Issuances of Controlled Stock Outside the Dunn Trust or 
Predecessor Context'', first paragraph, ninth line, the language ``442, 
(1978-2 CB 143) (distributing'' is corrected to read ``442 (1978-2 CB 
143) (distributing''.
0
3. On page 75949, column 2, in the preamble, under the paragraph 
heading ``C. Redemptions of Controlled Stock'', second paragraph of the 
column, twelfth line, the language ``distributing, and generally no 
additional'' is corrected to read ``distributing and generally no 
additional''.
0
4. On page 75949, column 3, in the preamble, under the paragraph 
heading ``Effective/Applicability Date'', seventh line, the language 
``occurring after December 15, 2008 that'' is corrected to read 
``occurring after December 15, 2008, that''.

LaNita Van Dyke,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel (Procedure and Administration).
 [FR Doc. E9-1109 Filed 1-16-09; 8:45 am]
BILLING CODE 4830-01-P

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