73 FR 37 pgs. 9971-9972 - Consolidated Returns; Intercompany Obligations
Type: PRORULEVolume: 73Number: 37Pages: 9971 - 9972
Docket number: [REG-107592-00]
FR document: [FR Doc. 08-823 Filed 2-20-08; 8:48 am]
Agency: Treasury Department
Sub Agency: Internal Revenue Service
Official PDF Version: PDF Version
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[REG-107592-00]
RIN 1545-BA11
Consolidated Returns; Intercompany Obligations
AGENCY:
Internal Revenue Service (IRS), Treasury.
ACTION:
Partial withdrawal of notice of proposed rulemaking.
SUMMARY:
This document withdraws a portion of a notice of proposed rulemaking (REG-107592-00) published in the Federal Register on September 28, 2007 (72 FR 55139). The withdrawn portion relates to the treatment of transactions involving the provision of insurance between members of a consolidated group.
FOR FURTHER INFORMATION CONTACT:
Frances L. Kelly, (202) 622-7770 (not a toll-free number).
SUPPLEMENTARY INFORMATION:
Background
On September 28, 2007, the IRS and the Treasury Department published a notice of proposed rulemaking (REG-107592-00) in the Federal Register (72 FR 55139) which proposed to amend § 1.1502-13(g) (regarding the treatment of transactions involving obligations between members of a consolidated group) and to add § 1.1502-13(e)(2)(ii)(C) (regarding the treatment of certain transactions involving the provision of insurance between members of a consolidated group).
Under proposed § 1.1502-13(e)(2)(ii)(C), certain intercompany insurance transactions would be taken into account on a single entity basis. Written comments were received with respect to proposed § 1.1502-13(e)(2)(ii)(C). After consideration of these comments, the IRS and the Treasury Department have decided to withdraw proposed § 1.1502-13(e)(2)(ii)(C). However, the IRS and the Treasury Department continue to study whether revisions to the rules for intercompany transactions are necessary to clearly reflect the taxable income of consolidated groups.
List of Subjects in 26 CFR Part 1
Income taxes, Reporting and recordkeeping requirements.
Partial Withdrawal of a Notice of Proposed Rulemaking
Accordingly, under the authority of 26 U.S.C. 7805 and 26 U.S.C. 1502, § 1.1502-13(e)(2)(ii)(C) of the notice of proposed rulemaking (REG-107592-00) that was published in the Federal Register on September 28, 2007 (72 FR 55139) is withdrawn.
Linda E. Stiff,
Deputy Commissioner for Services and Enforcement.
[FR Doc. 08-823 Filed 2-20-08; 8:48 am]
BILLING CODE 4830-01-P