Beruflich Dokumente
Kultur Dokumente
[TD 8834]
and (2), as added to the Internal Revenue Code by the Tax Reform
SUPPLEMENTARY INFORMATION:
the Office of Management and Budget, Attn: Desk Officer for the
by 26 U.S.C. 6103.
Background
Section 367(e)(1) amended the Code by providing regulatory
otherwise.
sections 631(d)(1) and 1810(g) of the Tax Reform Act of 1986 (100
Register on August 14, 1996 (61 FR 42165 [TD 8682, 1996-2 C.B.
A new RIN (RIN 1545-AX30) has been issued under which the section
Proposed Rulemaking.
to-foreign liquidation).
Rep. 426, 99th Cong., 1st Sess. 931 (1985); S. Rep. 313, 99th
corporation.
sections 355(d) and (e) and the device and continuity of interest
recognized.
1. General Rule
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recognize losses.
gains. The final regulations take this into account and allow
The IRS and Treasury do not believe that sections 336(d) and
After considering the issue, the Treasury and the IRS have
§1.367(a)-1T(c)(3).
recognizes gain (or loss) on its U.S. income tax return for the
property.
as if the property had been sold for fair market value at the
requirements.
challenged under existing law. The Treasury and the IRS hereby
business.
4. Effective Date
August 9, 1999.
C. Section 6038B
Special Analyses
It has been determined that these regulations are not a
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Drafting Information
The principal author of these regulations is Guy A. Bracuti
List of Subjects
26 CFR Part 1
are removed.
determined under section 358 without any increase for any gain
domestic corporation.
78f); or
characteristics--
listed stocks.
1999.
of this section contains the general rule that gain and loss are
specifies the effective date for the rules of this section. The
section 332(b).
section.
1211.
loss limitation rule, the pro rata loss allocation method, and
this section) shall not offset gain from property not received in
under the rules and principles of sections 701 through 761 and
corporation.
States, if--
its U.S. income tax returns for the taxable years that include
of this section to its U.S. income tax return for the tax year
only if all income from the use of the property and all income or
section 936(h)(3)(B).
following items:
section.
incorporation.
property until three years after the date on which all such items
period longer than 13 years from the filing of the original U.S.
income tax return for the taxable year of the last distribution
Recognition Agreement.@
and properly reports such gain (or loss) on its U.S. income tax
that the losses (or credits) were otherwise available in the year
The interest due will be calculated from the due date of the
schedule (attached to its U.S. income tax return for the year of
(b)(2)(i)(E).
States;
applicable);
section.
of section 897);
corporation; and
corporation.
immediately thereafter.
shall file a U.S. income tax return (or amended U.S. income tax
(c)(2) of this section, section 337(a) and (b)(1) shall apply and
§1.367(e)-2(b)(2)(i)(C)(4), unless--
section; or
of this section.
paragraph (c).
United States.
(ii) Other rules. For other rules that may apply, see
corporations.
367(e). * * *
Corporation.@ * * *
* * * * *
section.
shall complete Part 1 of the Form 926 and attach a signed copy of
such form to its U.S. income tax return for the year of the
Form 926 and attach a signed copy of such form to its U.S. income
the Form 926, noting thereon that the information required by the
its U.S. income tax return for the year of the distribution.
* * * * *
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corporations (temporary).
* * * * *
* * * * *
read as follows:
read as follows:
* * * * *
(b) * * *
Robert E. Wenzel
Deputy Commissioner of Internal Revenue.
Approved: 7/29/1999
Donald C. Lubbick
Assistant Secretary of the Treasury.
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