Federal Register: October 15, 2010 (Volume 75, Number 199)
DOCID: fr15oc10-2 FR Doc 2010-25950
DEPARTMENT OF THE TREASURY
Internal Revenue Service
CFR Citation: 26 CFR Part 1
RIN ID: RIN 1545-BF90
TD ID: [TD 9502]
NOTICE: RULES
DOCID: fr15oc10-2
DOCUMENT ACTION: Correcting amendment.
SUBJECT CATEGORY:
Exclusions From Gross Income of Foreign Corporations; Correction
DATES: This correction is effective on October 15, 2010, and is applicable on September 17, 2010.
DOCUMENT SUMMARY:
This document contains corrections to final regulations (TD 9502) that were published in the Federal Register on Friday, September 17, 2010 (75 FR 56858) under section 883(a) and (c) of the Internal Revenue Code, concerning the exclusion from gross income of income derived by certain foreign corporations from the international operation of ships or aircraft.
SUMMARY:
Exclusions From Gross Income of Foreign Corporations; Correction
SUPPLEMENTAL INFORMATION
Background
The final regulations (TD 9502) that are the subject of this document are under section 883 of the Internal Revenue Code. Need for Correction
As published, the final regulations (TD 9502) contain errors that may prove to be misleading and are in need of clarification. List of Subjects in 26 CFR Part 1
Income taxes, Reporting and recordkeeping requirements. Correction of Publication
Accordingly, 26 CFR part 1 is corrected by making the following correcting amendments:
PART 1INCOME TAXES
Paragraph 1. The authority citation for part 1 continues to read in part as follows:
Authority: 26 U.S.C. 7805 * * *
Par. 2. Section 1.8832 is amended by revising paragraph (f)(4)(ii)(C) to read as follows:
Sec. 1.8832 Treatment of publiclytraded corporations.
* * * * *
(f) * * *
(4) * * *
(ii) * * *
(C) The number of days during the taxable year of the foreign
corporation that such qualified shareholders owned, directly or
indirectly, their shares in the closely held block of stock. * * * * *
Par. 3. Section 1.8835 is amended by revising the heading of paragraph (d) to read as follows:
Sec. 1.8835 Effective/applicability dates.
* * * * *
(d) Effective/applicability dates. * * *
LaNita Van Dyke,
Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration).
[FR Doc. 201025950 Filed 101410; 8:45 am]
BILLING CODE 483001P
FOR FURTHER INFORMATION CONTACT
Patricia A. Bray, (202) 622-3880 (not a tollfree number).