Source: https://www.scribd.com/document/372929/a2006-81
Timestamp: 2018-10-17 08:42:07
Document Index: 8666576

Matched Legal Cases: ['§1', '§1', '§1', '§1', '§1', '§1']

a2006 81 | Internal Revenue Service | Partnership
dollar a day membership harca
(k) Effective date for certain regu­ lations relating to allocation and ac­ counting.
Except as otherwise provided in this section, §§1.141–1(e), 1.141–6, 1.141–13(d), and 1.145–2(b)(4), (b)(5), and (c)(3) apply to bonds that are sold on or after the date that is 60 days after the date of publication of the Treasury decisions adopting these rules as final reg­ ulations in the Federal Register and that are subject to the 1997 Final Regulations. (l) Permissive retroactive applica­ tion of certain regulations. Issuers may apply §1.141–13(d) to bonds to which §1.141–13 applies. Par. 7. Section 1.145–2 is amended by adding paragraphs (b)(4), (b)(5), and (c)(3) to read as follows: §1.145–2 Application of Private Activity Bond Regulations ***** (b) * * * (4) References to governmental bonds in §1.141–6 mean qualified 501(c)(3) bonds. (5) References to ownership by govern­ mental persons in §1.141–6 mean owner­ ship by governmental persons or 501(c)(3) organizations. (c) * * * (3) Partnerships. Section 1.141–1(e)(2) does not apply for purposes of sec­ tion 145(a)(1). For purposes of section 145(a)(2), in the case of a partnership (as defined in section 7701(a)(2)) in which each of the partners is a governmental person or a section 501(c)(3) organization, the partnership is disregarded as a separate entity and is treated as an aggregate of its partners. Mark E. Matthews, Deputy Commissioner for Services and Enforcement.
(Filed by the Office of the Federal Register on September 25, 2006, 8:45 a.m., and published in the issue of the Federal Register for September 26, 2006, 71 F.R. 56072)
Deletions From Cumulative List of Organizations Contributions to Which are Deductible Under Section 170 of the Code Announcement 2006–81
The Internal Revenue Service has re­ voked its determination that the organiza­ tion listed below qualifies as an organi­ zation described in sections 501(c)(3) and 170(c)(2) of the Internal Revenue Code of 1986. Generally, the Service will not disallow deductions for contributions made to a listed organization on or before the date of announcement in the Internal Revenue Bulletin that an organization no longer qualifies. However, the Service is not precluded from disallowing a deduction for any contributions made after an or­ ganization ceases to qualify under section 170(c)(2) if the organization has not timely filed a suit for declaratory judgment under section 7428 and if the contributor (1) had knowledge of the revocation of the ruling or determination letter, (2) was aware that such revocation was imminent, or (3) was in part responsible for or was aware of the activities or omissions of the organization that brought about this revocation. If on the other hand a suit for declara­ tory judgment has been timely filed, con­ tributions from individuals and organiza­ tions described in section 170(c)(2) that are otherwise allowable will continue to be deductible. Protection under section 7428(c) would begin on June 27, 2005, and would end on the date the court first deter­ mines that the organization is not described in section 170(c)(2) as more particularly set forth in section 7428(c)(1). For indi­ vidual contributors, the maximum deduc­ tion protected is $1,000, with a husband and wife treated as one contributor. This benefit is not extended to any individual, in whole or in part, for the acts or omissions of the organization that were the basis for revocation. University Lithotripsy Affiliates, Inc. Newark, NJ
Determination of Interest Expense Deduction of Foreign Corporations; Correction Announcement 2006–82
AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Correction to final and tempo­ rary regulations. SUMMARY: This document contains a correction to final and temporary regu­ lations (T.D. 9281, 2006–39 I.R.B. 517), that were published in the Federal Reg­ ister on Thursday, August 17, 2006 (71 FR 47443). This regulation revised the Income Tax Regulations relating to the determination of the interest expense de­ duction of foreign corporations and applies to foreign corporations engaged in a trade or business within the United States. DATES: This correction is effective Au­ gust 17, 2006. FOR FURTHER INFORMATION CONTACT: Gregory Spring or Paul Epstein, (202) 622–3870 (not a toll-free number). SUPPLEMENTARY INFORMATION: Background The final and temporary regulations (T.D. 9281) that is the subject of this cor­ rection are under sections 882 and 884 of the Internal Revenue Code. Need for Correction As published, T.D. 9281 contains an er­ ror that may prove to be misleading and is in need of clarification. Correction of Publication Accordingly, the publication of the final and temporary regulations (T.D. 9281), that were the subject of FR Doc. E6–13402, is corrected as follows: On page 47443, column 1, in the pream­ ble under the caption “DATES: Effective Date:”, lines 1 through 5, the language, “These regulations are effective starting
2006–44 I.R.B.
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