Source: https://www.federalregister.gov/documents/2004/03/18/04-6141/loss-limitation-rules
Timestamp: 2017-10-23 12:05:38
Document Index: 609210951

Matched Legal Cases: ['art 1', '§\u20091', '§\u20091', '§\u20091', '§\u20091', '§\u20091', '§\u20091']

A Proposed Rule by the Internal Revenue Service on 03/18/2004
Written or electronic comments must be received by June 16, 2004.
69 FR 12811
12811-12812 (2 pages)
REG 153172-03
04-6141
https://www.federalregister.gov/d/04-6141 https://www.federalregister.gov/d/04-6141
Send submissions to: CC:PA:LPD:PR (REG-153172-03), room 5203, Internal Revenue Service, POB 7604, Ben Franklin Station, Washington, DC 20044. Submissions may be hand delivered Monday through Friday between the hours of 8 a.m. and 4 p.m. to CC:PA:LPD:PR (REG-153172-03), Courier's Desk, Internal Revenue Service, 1111 Constitution Avenue, NW., Washington, DC 20044. Alternatively, taxpayers may submit electronic comments directly to the IRS Internet site at http:// www.irs.gov/​regs.
Regarding the regulations under section 337(d), Mark Weiss (202-622-7790) of the Office of Associate Chief Counsel (Corporate), and regarding the regulations under section 1502, Lola L. Johnson (202-622-7550) of the Office of Associate Chief Counsel (Corporate); regarding submission of comments and/or requests for a hearing, Sonya M. Start Printed Page 12812Cruse (202-622-4693) of the Office of Procedure and Administration (not toll-free numbers).
Temporary regulations in the Rules and Regulations section of this issue of the Federal Register amend the Income Tax Regulations (26 CFR part 1) relating to section 337(d) and section 1502. The text of those regulations also serves as the text of these proposed regulations. The preamble to the temporary regulations explains the amendments.
It has been determined that this notice of proposed rulemaking is not a significant regulatory action as defined in Executive Order 12866. Therefore, a regulatory assessment is not required. It is hereby certified that these regulations will not have a significant economic impact on a substantial number of small entities. This certification is based on the fact that these regulations will primarily affect affiliated groups of corporations, which tend to be larger businesses. Therefore a Regulatory Flexibility Analysis is not required. Pursuant to section 7805(f) of the Internal Revenue Code, this notice of proposed rulemaking will be submitted to the Chief Counsel for Advocacy of the Small Business Administration for comment on its impact on small business.
Before these proposed regulations are adopted as final regulations, consideration will be given to any written comments (a signed original and eight (8) copies) or electronic comments that are submitted timely to the IRS. The IRS and the Treasury Department request comments on the clarity of the proposed regulations and how they may be made easier to understand. All comments will be available for public inspection and copying. A public hearing may be scheduled if requested by any person who timely submits comments. If a public hearing is scheduled, notice of the date, time and place for the hearing will be published in the Federal Register.
Par. 2. Section 1.337(d)-2(c)(2) is added to read as follows:
§ 1.337(d)-2
Loss limitation window period.
[The text of this proposed section is the same as the text of § 1.337(d)-2T published elsewhere in this issue of the Federal Register].
Par. 3. Section 1.1502-35(f)(1) is added to read as follows:
Transfers of subsidiary member stock and deconsolidations of subsidiary members.
[The text of this proposed section is the same as the text of § 1.1502-35T published elsewhere in this issue of the Federal Register].
Par. 4. In § 1.1502-80, paragraph (c) is revised to read as follows:
(c) [The text of this proposed § 1.1502-80(c) is the same as the text of § 1.1502-80T(c) published elsewhere in this issue of the Federal Register].
[FR Doc. 04-6141 Filed 3-17-04; 8:45 am]