[Federal Register Volume 74, Number 42 (Thursday, March 5, 2009)]
[Rules and Regulations]
[Page 9570]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-4656]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9441]
RIN 1545-BI46


Section 482: Methods To Determine Taxable Income in Connection 
With a Cost Sharing Arrangement; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to final and temporary regulations.

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SUMMARY: This document contains corrections to final and temporary 
regulations (TD9441) that were published in the Federal Register on 
Monday, January 5, 2009 providing further guidance and clarification 
regarding methods under section 482 to determine taxable income in 
connection with a cost sharing arrangement in order to address issues 
that have arisen in administering the current regulations. The 
temporary regulations affect domestic and foreign entities that enter 
into cost sharing arrangements described in the temporary regulations.

DATES: This correction is effective March 5, 2009, and is applicable on 
January 5, 2009.

FOR FURTHER INFORMATION CONTACT: Kenneth P. Christman, (202) 435-5265 
(not a toll-free number).

SUPPLEMENTARY INFORMATION: 

Background

    The final and temporary regulations that are the subject of this 
document are under sections 367 and 482 of the Internal Revenue Code.

Need for Correction

    As published, final and temporary regulations (TD 9441), published 
Monday, January 5, 2009 (74 FR 340) , contains errors that may prove to 
be misleading and are in need of clarification.

Correction of Publication

PART 1--[CORRECTED]

    Accordingly, the publication of the final and temporary regulations 
(TD 9441), which was the subject of FR Doc. E8-30715, is corrected as 
follows:
    1. On page 346, column 2, in the preamble, under the paragraph 
heading ``4. Acquisition Price and Market Capitalization Methods--Temp. 
Treas. Reg. Sec.  1.482-7T(g)(5) and (6), third paragraph of the 
column, line 17, the language ``PCT Payor's, nonroutine contributions'' 
is corrected to read ``PCT Payee's, nonroutine contributions''.
    2. On page 347, column 1, in the preamble, the language of the 
paragraph heading ``2. Contingent Payments--Temp. Treas. Reg. Sec.  
1.482-7T(h)(2)(iv) and (v)'' is corrected to read ``2. Contingent 
Payments--Temp. Treas. Reg. Sec.  1.482-7T(h)(2)(iii) and (iv)''.
    3. On page 348, column 2, in the preamble, under the paragraph 
heading ``Special Analyses'', last paragraph of the column, line 13, 
the language ``preamble to the cross-reference notice of'' is corrected 
to read ``preamble to the cross-referenced notice of''.
    4. On page 348, column 3, in the preamble, under the paragraph 
heading ``Drafting Information'', second paragraph of the column, line 
2, the language ``proposed regulations is Kenneth P.'' is corrected to 
read ``temporary regulations is Kenneth P.''.

LaNita Van Dyke,
Chief, Publications and Regulations Branch Legal Processing Division, 
Associate Chief Counsel, (Procedure and Administration).
[FR Doc. E9-4656 Filed 3-4-09; 8:45 am]
BILLING CODE 4830-01-P