Internal Revenue Service November 14, 2008 – Federal Register Recent Federal Regulation Documents

Results 1 - 2 of 2

Section 1367 Regarding Open Account Debt; Correction

Document Number: E8-27024

Type: Rule

Date: 2008-11-14

Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury

This document contains corrections to final regulations (TD 9428) that were published in the Federal Register on Monday, October 20, 2008 (73 FR62199) relating to the treatment of open account debt between S corporations and their shareholders. These final regulations provide rules regarding the definition of open account debt and the adjustments in basis of any indebtedness of an S corporation to a shareholder under section 1367(b)(2) of the Internal Revenue Code for shareholder advances and repayments on advances of open account debt. The regulations affect shareholders of S corporations and are necessary to provide guidance needed to comply with the applicable tax law.

https://regulations.justia.com/regulations/fedreg/2008/11/14/E8-27024.html

Determining the Amount of Taxes Paid for Purposes of Section 901; Correction

Document Number: E8-27023

Type: Rule

Date: 2008-11-14

Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury

This document contains corrections to final and temporary regulations (TD 9416) that were published in the Federal Register on Wednesday, July 16, 2008 (73 FR 40727) under section 901 of the Internal Revenue Code providing guidance relating to the determination of the amount of taxes paid for purposes of the foreign tax credit.

https://regulations.justia.com/regulations/fedreg/2008/11/14/E8-27023.html